Exmar swings to first quarter loss

Exmar swings to first quarter loss
Image courtesy of Exmar

Belgium’s Exmar, the Nicolas Savery-led shipowner, reported a plunge into the red in the first quarter of the year. 

The company reported a loss of $11.4 million, which compares to $21.4 million in the corresponding quarter in 2018.

Exmar’s LNG infrastructure division posted a $3 million operating loss during the first quarter compared to $29.6 million in the first quarter of 2018. The 2018 figures included a $30.9 million gain on the sale of Excelsior.

The barge-based floating storage regasification unit (FSRU), receives hire in full from Gunvor as from October 2018, according to the contract. The financing of the FSRU unit is progressing according to schedule and should be fully committed in the course of the second quarter of 2019, the company said.

The Tanfo floating liquefaction barge, already installed and safely moored in Bahia Blanca, Argentina, is being commissioned and has already received its first gas and LNG cool down cargo.

Upon completion of the commissioning, the unit will be presented to the customer for final acceptance. From early May Tango FLNG is expected to start generating earnings and as from September, the unit should be fully on stream.

Share this article

Follow LNG World News

Posted on April 26, 2019 with tags .

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >