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Golar LNG making money again

US-based Golar LNG returned to profits in the first quarter, though the carrier remains under pressure. Management is highly unsatisfied with the first and second quarter, but hopes for improvements in the third quarter this year.

Photo: Höegh LNG

Golar LNG, which operates LNG vessels and works in the FSRU (Floating Storage Regasification Unit) segment, exited the first quarter this year with a positive result on the bottom line.

Charter revenue hovered at around the same level in the first quarter this year, at USD 32.1 million, as in the fourth quarter 2014, where charter revenue reached USD 32.5 million. The bottom line showed a profit of USD 24.5 million in the first quarter, compared to a deficit of USD 37.9 million in the final quarter 2014. The positive result is especially attributed to the carrier's major profit from selling vessel Golar Eskimo.

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