Hoegh LNGC lives on - 30/09/2014

Hoegh LNG has stretched a charter for an elderly LNG carrier by another 12 months, the company confirmed Friday.

The Oslo-listed shipowner said Gas Natural will continue to charter the 126,000-cbm LNG Libra (built 1979) until the end of 2015.

Hoegh LNG said the ebitda contribution to the company for the extended period will be about $6.9m.

 “The extension underlines our ability to secure employment for LNG carriers even at times of challenging market conditions,” said Hoegh LNG chief executive Sveinung JS Stohle.

Last month Hoegh LNG said it was considering scrapping the 35-year-old vessel if no employment could be found for it.

Stohle, speaking in a results briefing, said the company would “most likely be recycling” the vessel given the current very soft market.

Hoegh LNG bought the LNG Libra from Mitsui OSK Lines (MOL) in 2012 for around $50m.

in www.tradewinds.com 26/09/2014