Golar LNG posts USD 7.8 million profit in Q3

Golar LNG posts USD 7.8 million profit in Q3

Golar LNG reported a $7.8 million net profit in the third quarter of 2014, compared to a $24.2 million net loss in Q2.

During the quarter Golar LNG closed a secondary offering of 32,000,000 World Shipholding shares and sold a 10% stake in the Hilli entity to a Keppel Corporation unit.

The company’s third quarter vessel utilization increased from 47% to 56% increasing revenues by 37% to $28.8 million. Golar LNG also took delivery of two newbuild LNG carriers, Golar Penguin and Golar Bear.

The company still expects the chartering market to be challenging through mid-2015, despite the improved utilisation.

LNG World News Staff; Image: Golar LNG

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