• Results of companies

    Golar LNG 4Q20 results

    The last 3 months have been quite busy for Golar LNG. They did an AK (12MM shares to raise $100MM), executed a new $100 million credit facility and sold and LNG carrier (Golar Viking) which released $51.7MM. Golar used that money to repay the $150 MM bilateral facility and the $30 MM margin loan.  Apart from that, Golar sold Hygo…

  • Results of companies

    New Fortress Energy 3Q20 Results

    As my Portfolio Manager says, New Fortress is the perfect example of a company which is always putting shareholders expectation out of turn, and it never fulfils those expectations on time. However, after some quarters of undelivered promises (since its IPO in 2019), now investors can feel that something has changed. Its shares are up almost 500% since the March…

  • Results of companies

    Golar LNG 3Q20 results

    Shipping Shipping revenues were better than expected with a TCE of $39k/day instead of the $35k/day forecasted previously. It could have been higher but the Golar Tundra was locked down in the yard(Singapore)because of Covid for several months, diminishing the fleet utilisation. Currently, it is Sabine Pass, so it was in the yard probably till mid-October. Golar Viking conversion project…

  • Results of companies

    Cheniere 3Q20 results

    Some comments about 3Q20 Cheniere conference call: The results of 3Q20 have not been goods for Cheniere. A bad quarter (as expected) due to cargo cancellations during the summer months. The fee related to the cargo cancellations ($450MM was added to the results of the 2Q20. The reason is that the cancellations were made in the 2Q20) Cheniere has just…