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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.

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