Awilco LNG Freight Income Down

Awilco LNG said its freight income for the first quarter of this year was MUSD 20.2, compared to MUSD 21.3 in the previous quarter. The decrease was due to lower rates for WilPride in Q1.

Highlights:

– Awilco LNG reported an EBITDA of MUSD 10.7 (MUSD 8.0 in Q4 2013);

– WilForce commenced a three plus one year contract on 24 January 2014;

– WilPride successfully completed maiden voyage; and

– Vessel utilisation of 95 % (trading vessels), compared to 90 % in Q4 2013.

Awilco LNG’s profit before tax for the period was MUSD 0.0, compared to a loss of MUSD 0.3 in Q4 2013.