Presentation

Awilco LNG was founded in 2011 for the purpose of acquiring three secondhand LNGCs (which were later sold) and also signed two newbuilding contracts. The company took delivery of the two vessels in 2013 and still operates them to this day. Awilco is listed on Oslo Axess and has a market capitalization of UDS 20m with net debt of USD 240m as of Q2’20. The company’s largest shareholder is the Wilhelmsen family (~40% stake).

ALNG currently operates two 2013-built 156,000 cbm TFDE LNG carriers, WilForce and WilPride. The company restructured the balance sheet in January and engaged in a sale-leaseback agreement for both vessels with CCB Financial Leasing, with rolling purchase options after three years and a USD 37.5m purchase obligation after ten years.

As we are moving towards winter season, we should expect more LNG demand - as well as a tighter LNG shipping market. Awilco LNG is a very transparent bet on this market, with only two ships in the water, though sensitive to the company’s ability to secure employment at the right time in a booming market.