Norway: Decrease in freight revenue in Awilco LNG in Q2

31.08.2017

Norway: Decrease in freight revenue in Awilco LNG in Q2
Hegnar Online, 31 Aug 2017, online:-
Norwegian LNG transportation company Awilco LNG reported a decrease in loss after tax from USD 11.52mn (EUR 9.66mn) in Q2 2016 to USD 10.12mn in Q2 2017. Operating loss decreased from USD 5.73mn to USD 4.72mn. Freight revenue decreased significantly from USD 7.23mn to USD 0.99mn. Meanwhile, fleet utilisation increased from 41% to 83%. The company has undergone major restructuring in the summer of 2017.
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