Exmar’s LNG profit climbs

Belgium’s Exmar said its LNG fleet earned USD 35.4 million for the full year 2014, compared to USD 26.5 million in 2013.

“Exmar remains committed to long-term charter, and is therefore not directly impacted by the rate fluctuations on the worldwide market,” the company said in a statement.

According to Exmar, LNG tanker Excel is currently employed by Malaysia LNG until end January 2015. Discussions on future employment are on-going.

Exmar also revealed in the statement that, together with Altagas Idemitsu Joint Venture and EDFT,  it has completed the restructuring of the Douglas Channel FLNG project. The consortium has now full ownership and control of the project and is advancing to a final investment decision within 2015 with a start of LNG export in 2018.

Exmar and the Port of Antwerp decided not to jointly invest in an LNG bunker vessel.

The JV partners previously completed a study for the development of LNG bunkering within the Port of Antwerp.

“As the necessary critical demand for this service is currently not existing, it was decided not to jointly invest in an LNG bunker vessel,” Exmar added.