Höegh LNG: Secured interim LNGC charters for 2021 and 2022
Hamilton, Bermuda, 9 February 2021 - Höegh LNG Holdings Ltd. ("Höegh LNG" or the “company”) is pleased to announce that it has reached an agreement with Trafigura for an extension of the existing interim LNGC time charter for Höegh Gannet by 12 months and entered into a new interim LNGC time charter for Höegh Gallant for 12 months from the redelivery from its current charter at end March 2021.
Further, an agreement has been reached with Cheniere to extend the existing interim LNGC time charter for the Höegh Galleon with 12 months.
The rates for the above-mentioned time charters are consistent with the term market rates for TFDE LNGCs and modestly above those achieved for Höegh Gallant and Höegh Gannet in 2020. The three time charters include extension options for the charterers which can result in back-to-back employment with potential new FSRU awards.
With these charters the company’s fleet is secured full contract coverage for 2021, with the exception of Höegh Esperanza where Höegh LNG is in discussions with the existing charterer on an extension from the expiry of the existing contract in June 2021. The company aims to secure an extension that potentially covers the period until Höegh Esperanza is planned to be employed on a long-term FSRU contract. Höegh Esperanza is, conditional on a final investment decision being made, selected for AGL’s Crib Point FSRU project in Australia.
President and Chief Executive Officer Sveinung J.S. Støhle says: “We are off to a very good start for 2021 with these charters in place, taking advantage of the seasonally strong LNGC market to bridge the interim period with solid counterparties.”
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Contacts:
Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Håvard Furu, Chief Financial Officer, Telephone +47 991 23 443
Knut Johan Arnholdt, VP IR and Strategy, Telephone +47 922 59 131
About Höegh LNG:
Höegh LNG operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions. Its strategy is to develop the business through an extended service offering, with large-scale FSRUs as the main product, and focus on establishing long-term contracts with attractive risk-adjusted returns involving credible counterparts. The company is publicly listed on the Oslo stock exchange under the ticker HLNG, and owns approximately 46% of Höegh LNG Partners LP (NYSE:HMLP). Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, China, Indonesia, Lithuania, Egypt, Colombia and the Philippines. The group employs approximately 175 office staff and 600 seafarers.