Exmar: LNG Fleet Earns USD 26.9 Mln in 2013
Exmar of Belgium said on Thursday its LNG fleet earned USD 26.9 million in 2013 (compared to USD 30.3 million in 2012).
The LNG market was one of the most active segments of the shipping industry in the early part of 2013. As new tonnage capacity was made available the rates have come gradually under pressure. Exmar remains committed to long-term charter, and is therefore not directly impacted by the rates fluctuations on the worldwide market, the company said in a statement.
EXCEL was in dry-dock in the fourth quarter of 2013, which impacted the results of the year with 20 days off-hire. The vessel redelivered from its last charter at the end of December and is currently waiting for employment. In the meantime EXCEL continues to benefit from the minimum revenue undertaking under the Facility Agreement with Conoco.
In the fourth quarter Exmar also incurred some additional costs for the maintenance and upgrade of its LNG fleet that had an impact on the results.
The top side installation on the Caribbean FLNG barge started on 6 December 2013 and is progressing very well. Commercial operations are scheduled to commence for the second quarter 2015. Production of LNG during the first five years will be sold to Gazprom Marketing and Trading and Sales and Purchase Agreement discussions between Pacific Rubiales and Gazprom are ongoing, Exmar added.
[mappress]
LNG World News Staff, January 31, 2014
List of related news articles
-
Posted: 2 months ago
Exmar settles Tango FLNG dispute with YPF
Belgium’s Exmar, the Nicolas Saverys-led shipowner, has finally settled its dispute with YPF o...
Posted: 2 months ago -
Posted: 23 days ago
Croatia awaits its first LNG cargo
Croatia’s first floating storage and regasification unit (FSRU) LNG Croatia is set to receive the fi...
Posted: 23 days ago -
Posted: 2 months ago
Genco continues with fleet renewal as it offloads 3 bulkers
US-based drybulk shipowner Genco Shipping & Trading Limited is moving forward with its fleet ren...
Posted: 2 months ago -
Posted: about 1 month ago
Hapag-Lloyd upgrades earnings forecast amid strong market demand
German container shipping company Hapag-Lloyd has raised its earnings forecast amid better than expe...
Posted: about 1 month ago