Norway’s Awilco LNG has completed the refinancing of its two diesel-electric, 11-year-old LNG carriers.
Announcing second quarter results today, Awilco LNG said this will reduce its cash payments by approximately $6.5m over the next 12 months and cash break-even will be reduced by approximately $9,000 per day per vessel compared to the previous financing.
China Development Bank Financial Leasing is buying the two ships, with Awilco LNG taking them back on lease for a total of 12 years, for total lease payments of $117.8m.
