Awilco LNG has inked a lucrative new charter for one of its two gas carriers.
The Oslo-listed LNG shipowner said on Friday that it had fixed the 156,000-cbm WilForce (built 2013) to an unnamed counterparty for "about 12 months".
The company did not disclose the rate, but said the charter would provide $18m in Ebitda to its balance sheet.
In 2020, Awilco LNG reported $18.1m in Ebitda for the entire year.
"The contract is expected to commence at the end of April 2021 in direct continuation from the present charter party," Awilco said.
The WilForce — half of the company's fleet alongside the 156,000-cbm WilPride (built 2013) — had been trading in the spot market, according to Awilco's fourth-quarter 2020 report.
The WilPride had been on a two to three-month time-charter contract following delivery in February.
The WilForce's new contract will begin at the end of the month.
LNG carrier rates have firmed since the winter rally cooled off in February.
Poten & Partners said a 160,000-cbm, tri-fuel diesel electric (TFDE) carrier heading west was earning an average of $81,313 per day this year, while the same ship heading east would earn $74,375 per day.
Both the WilForce and the WilPride have TFDE propulsion systems.
On 19 April, TradeWinds reported that John Fredriksen-backed Flex LNG pushed into the period market, fixing four ships to Cheniere Energy for as long as three-and-a-half years, with an option for a fifth.
Expanding on the rationale for the move, Flex chief executive Oystein Kalleklev said low inventories in Europe were supporting rates, while Chinese customers looked to secure cargoes early for winter.
