Shipowner Exmar said it is closing in on employment for its barge-based floating LNG (FLNG) unit and is in discussions over its mini floating storage and regasification unit (FSRU).
Both vessels had were left in limbo after their original charterers pulled out of deals.
In a third quarter results statement, Exmar said it is seeing "strong interest" for the employment of its 500,000 tonnes per annum Tango FLNG (built 2017), adding that "term sheet discussions are ongoing with various parties".
"Current high oil and gas prices further increase the interest in Tango FLNG," the Belgian shipowner added.
The Brussels-listed company said monthly settlement payments from former charterer YPF, which redelivered the floater early, are "diligently being honoured".
Exmar said that following the termination of the charter party with Gunvor earlier this year, the search for employment for its 25,000-cbm FSRU S188 (built 2017) is continuing.
"Technical and commercial discussions for several opportunities are ongoing," the company said.
Antwerp-headquartered Exmar said its lone LNG carrier, the 138,000-cbm Excalibur (built 2002), will be redelivered at the start of 2022.
"The current strong LNG product market and LNG freight rates give us confidence we will be able to secure further employment either trading or as a conversion candidate," the company said.
Cash coming in
Exmar said its liquidity position had been improved by the receipt of an early termination fee from Gunvor for the FSRU S188 and the contractual monthly payments from YPF for its Tango FLNG.
The company said it expects to further strengthen its liquidity position through the time charters for its two new dual-fuel VLGCs, the payment of the remaining instalments by YPF, the sale of the company's 35,000-cbm Brussels (built 1997) and engineering contracts, in addition to the the future employment of the Tango FLNG and FSRU S188.
Exmar turned around figures for the first nine months of this year, posting a consolidated result of $21.9m compared with a loss of $7.1m in the same period of 2020.
Revenue slipped back to $140.7m in the first nine months of the year, from $143.4m in the same period of last year.
But the company logged a third quarter operating loss of $4.6m against a profit of $2.8m in the corresponding period last year.
Exmar highlighted that its figures were hit by losses from its infrastructure segment which was negatively affected by the current unemployment of the FSRU S188.
Its nine months operating result was up at $41.3m, compared to $22m in the same period of 2020. But the company said the result includes an early termination fee of $56.8m for the early termination of the FSRU S188 charter agreement by Gunvor.
