Höegh LNG delivers USD 2.5 million profit

Norwegian Höegh LNG delivered a profit of USD 2.5 million after tax in the third quarter. This is a step back from the second quarter of this year, while operating profit (EBITDA) went up. Accounting faults in Indonesia are costing millions.

Photo: Höegh LNG

Tanker carrier Höegh LNG delivered a net profit of USD 2.5 million in the third quater. This is a setback compared to the previous quarter, where the result was USD six million, but a clear improvement when compared with the same period last year, where the carrier suffered a deficit of USD 18.1 million, according to Höegh LNG's third quarter interim report on Monday.

The carrier's operating profit (EBITDA) increased from USD 22.6 million in the second quarter of this year to USD 26.6 million in the third quarter. The improvement is due to Höegh LNG's earnings from its FSRU Höegh Gallant over the whole quarter, says CEO Sveinung J.S. Støhle in the report.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs