Profit ahead for Hoegh LNG

Analysts are projecting a profit of $2.78m in the three months to the end of June, according to consensus numbers distributed by SpareBank1 Markets.

Analyst Peder Nicolai Jarlsby says the shift from red to green figures will come with the 170,000-cbm Hoegh Gallant (built 2014 now operational in Egypt.

The FSRU, on a five year contract to EGAS, is now expected to be the first dropped down to MLP Hoegh LNG Partners.

Hoegh LNG posted a loss of around $4m in the opening three months of this year. 

Shares in the shipowner were up 5.06% today at NOK 124.50 ($15.02) each.