Awilco Wraps Up Sale of LNG Carrier Duo

Awilco LNG Norwegian liquefied natural gas (LNG) transportation provider Awilco LNG ASA has completed the sale of two 125,000 cbm LNG carriers WilEnergy and WilGas. Following the sale, the 1983-built WilEnergy and the 1984-built WilGas were delivered to an unknown Far Eastern buyer, according to data provided by VesselsValue. The carriers were sold for a price of USD 20 million each, slightly below the market value of USD 22 million for WilEnergy and USD 23.6 million for WilGas, VesselsValue data shows. The company said that the sale of the LNG carriers, which were in cold lay-up, would contribute with an estimated loss of USD 6.6 million in Awilco LNG’s 2016 financial results. The sale was announced on June 1, when the company opted to dispose of the two vessels amid a weak LNG freight market which continued in the early part of 2016.