- CEO
- Jens-Julius R. Nygaard
- Full Time Employees
- 8
- Sector
- Energy minerals
- Industry
- Oil & gas production
- Address
- Haakon VIIs Gate 1 Oslo PS Norway 0161
- IPO Date
- Sep 6, 2011
- Business
- Awilco LNG ASA is a Norway-based fully integrated pure play liquefied natural gas (LNG) transportation provider that owns and operates LNG vessels for international trade. The company owns two 156,000 cbm TFDE membrane-type LNG carriers, WilForce and WilPride, both built in 2013, which generate revenue primarily from time charter contracts, freight income, ballast bonuses, and related compensation; it also provides in-house technical management services through its wholly owned subsidiary Awilco LNG Technical Management AS. Awilco LNG ASA operates globally with vessels trading on international routes and maintains a lean organization with approximately four to six employees; the company sources certain administrative and sub-management technical services from affiliated entities within the Awilhelmsen Group. Incorporated in February 2011 by Awilco AS, a company within the Awilhelmsen Group, and listed on Euronext Expand Oslo under the ticker ALNG.OL since September 2011, Awilco LNG ASA is headquartered at Haakon VIIs Gate 1, 4th Floor, Oslo, Norway. In recent developments, the company signed a sale/leaseback refinancing facility in early 2024 with China Development Bank Financial Leasing Co. Ltd. for its two LNG carriers, featuring a longer amortization profile, extended tenor, and lower margin to reduce running costs and cash break-even by USD 10,000 per day per vessel, with closing expected in late Q2 or early Q3 2024; it reported a net profit of USD 1.5 million in Q4 2024 and continues to employ WilPride under charter until the end of 2025 while navigating a challenging spot market for WilForce.