Norway's Awilco LNG Q1 net loss widens as utilization falls

Alng ASA

13/05/2026 06:40

Overview

Norway LNG shipper's Q1 net loss widens as vessel utilization and EBITDA decline

Company raised NOK 251.6 mln ($26 mln) in private placement to fund LNG trading unit

Q1 results saw limited direct impact from Middle East war, but market uncertainty remains

Outlook

Company says LNG market rates remain elevated due to Middle East conflict and shipping disruptions

Awilco LNG says one vessel has been fixed on a multi-month charter at improved levels

Company to fund LNG trading initiative ALNG Trading with proceeds from recent private placement

Result Drivers

VESSEL UTILIZATION DROP - Lower vessel utilization at 68% in Q1, down from 100% in Q4, contributed to weaker results

MARKET DISRUPTION - War in the Middle East disrupted LNG shipping routes and created uncertainty, with limited direct impact on Q1 results, per Interim CEO Per Heiberg

Company press release: ID:nObigFSNGa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.05
Q1 Net Income
-$6.4 mln
Q1 EBITDA
$900,000


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)