Awilco Refinances LNG Fleet

Norwegian liquefied natural gas (LNG) transportation company Awilco agreed and signed a term sheet for the financing of its two liquefied natural gas carriers with an Asia-based company.

The refinancing for the two 2013-built 156,000-cbm TFDEs WilForce and WilPride, has been structured as a sale/leaseback similar to the current financing of the vessels, said a press note from the pure play LNG transportation provider, owning and operating LNG vessels intended for international trade.

Awilco LNG says it expects the new financing to close during the fourth quarter of this year, subject to final credit approval, documentation and customary closing conditions.

Recently, Awilco has secured a charter contract for its 156,000 cbm TFDE membrane LNG vessel WilPride.

The charter deal came in days after the company informed that WilPride’s sister vessel, the WilForce was struck by another vessel off Singapore. Wilforce charter was cancelled after the collision.