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