Awilco LNG bags short-term charter for WilPride

Norwegian LNG transportation provider Awilco LNG has secured short-term employment for its LNG carrier WilPride.

The 2013-built 156,000 cbm TFDE WilPride has been committed on a two-three month time charter contract with expected gross revenues of between $10.3 million and $14.3 million.

With forecasted all-in cash break-even of about $58,000 per day per vessel in 2021, the contract is estimated to generate surplus liquidity of between $6.2 million and $8.6 million, Awilco informed.

The contract is expected to commence upon redelivery from the current contract in the first half of February 2021.

Gas prices and spot LNG shipping rates have recently increased dramatically for several reasons including cold weather, various production disruptions and fleet inefficiencies.

Forward gas prices for the remainder of 2021 has recovered together with consensus shipping rates. The company expects its financial results in 2021 to improve on 2020.