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Höegh LNG disappoints in 1st quarter

Norwegian Höegh LNG made a net deficit of USD 7.5 million in the first quarter 2013, which was more than expected. Profits before taxes were USD 0.1 million, writes analysts Fearnley.

Photo: Rederiforeningen

Norwegian natural gas shipping company Höegh LNG presents a disappointing result for the first quarter of the year.

The financial report showed a decline in operational results (EBITDA) in the first quarter of the year, at USD 7.5 million, compared to USD 12.5 million in the fourth quarter 2012, as well as a net deficit of USD 7.9 million, bigger than Fearnley's estimated deficit of  USD 5.6 million, according to the analysts.

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