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Golar is one of the oldest liquefied natural gas shipping companies. Its business was originally founded in 1946 as Gotaas-Larsen Shipping, which entered LNG shipping business in 1970. Other than owning, operating and chartering conventional LNG tankers, the company has also been developing floating storage and regasification (FSRU) business since last decade.
Golar LNG had been chaired by John Fredrisken until 2014 when the tycoon sold almost all of his stake in the company. Since then it has been effectively controlled by Tor Olav Trøim, Mr Fredirksen’s former righthand man.
GasLog doubled its profit in the second quarter but fell below analysts’ earnings forecasts for the period as a seasonal softening of rates affected the company’s spot-trading vessels.
Revenue rose 2.2% to $132.8m and the owner posted a profit of $14.2m, up from $6.9m in the equivalent quarter last year.
However, the company reported a loss attributable to owners of GasLog common stock of $3.6m, or a loss per share of $0.07.
The company has declared a dividend for the quarter of $0.15 per share, which is 7% higher than the dividend for the quarter a year ago.
Latest From Golar Lng
Company says operations are scheduled to start in the second half of 2020
The company said it ‘remains focused on fleet utilisation and longer term relationships with charterers’
The Norwegian business magnate saw his LNG concern clinch its first-ever FLNG contract with a supermajor, while his offshore business further beefed up its rapidly growing fleet
On delivery, the converted FSRU will serve a liquefied natural gas import terminal project in Croatia under a 10-year contract
The first of two 7,500 cu m LNG bunkering capable tankers ordered from Keppel Singmarine was launched at Keppel Nantong in late July and both units were previously scheduled for delivery in the second and third quarters of this year
Company sees a ‘significant pipeline’ of FLNG opportunities
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