- CEO
- Jon Skule Storheill
- Full Time Employees
- 6
- Sector
- Industrials
- Industry
- Marine Shipping
- Address
- Beddingen 8 Oslo Norway 0250
- IPO Date
- Oct 5, 2021
- Business
- Awilco LNG ASA owns and operates liquefied natural gas (LNG) carriers for international trade; the company provides LNG transportation services through its fleet of two 156,000 cbm tri-fuel diesel electric (TFDE) membrane-type vessels, WilForce and WilPride, both built in 2013 by Daewoo Shipbuilding & Marine Engineering and flagged in Malta; it also offers in-house technical management services via its wholly owned subsidiary Awilco LNG Technical Management AS, covering maintenance, crew management, regulatory compliance, and performance monitoring. Awilco LNG ASA serves global energy markets, targeting LNG producers, traders, and utilities with a focus on safe, efficient, and environmentally compliant operations supported by SIGTTO and OCIMF standards. The company, incorporated in February 2011 and headquartered at Beddingen 8, Aker Brygge in Oslo, Norway, traces its roots to the Awilhelmsen Group's maritime heritage dating back to 1939 and lists its shares on Euronext Expand Oslo under the ticker ALNG. Subsidiaries include Awilco LNG Technical Management AS, Awilco LNG 1 AS, Awilco LNG 2 AS, and Awilco LNG 3 AS, with commercial operations managed from Oslo and certain administrative services sourced from related Awilhelmsen Group entities. In recent developments, Awilco LNG ASA completed a significant refinancing in 2024 through a 10- to 12-year sale/leaseback facility with China Development Bank Financial Leasing Co. Ltd. (CDB Leasing) and earlier with CCB Financial Leasing Co. Ltd., fully replacing prior arrangements for WilForce and WilPride at a gross consideration of USD 175 million per vessel including prepaid charter hire, substantially lowering annual finance costs by about USD 7 million and reducing cash break-even by USD 10,000 per day per vessel; the company reported a net profit of USD 1.5 million in Q4 2024 amid a robust full-year result of USD 17.1 million, followed by net losses in Q1-Q3 2025 due to weak spot market conditions and lower utilization, with WilPride chartered until end-2025 providing cash flow stability while WilForce trades in challenging conditions.