Awilco LNG freight income down

Awilco LNG of Norway, owner of five LNG tankers, posted a freight income of USD 12.1  million in the first quarter of 2015, compared to USD 17.7 million in the previous quarter.

The LNG shipping company said its EBITDA was at USD 5.5 million, as compared to USD 8.5 million in the fourth quarter of 2014.

According to Awilco LNG, due to low activity and a number of available ships the spot market has experienced a continued weakening in 2015 to the lowest levels in 5 years.

Activity has picked up lately, but with a number of available vessels rates have not improved much yet, the company said in its first quarter report.

Lower oil price has affected negatively the short-term inter-basin trade with the inter-basin spread at a 3-year low, Awilco LNG added.

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