They have vessels, but Golar don’t directly ship their product, so I don’t consider them a shipping company. They announced their results this past week.
- Operating rev $138M
- EBITDA $106M
- Net Income $102M
- NIBD (Net Interest Bearing Debt) increased to $1650M
- Declared div of 25c/sh
The Mark II conversion with $1.2B of equity spend, is currently unencumbered. I think their cash position offers some flexibility. But, if a new FLNG deal gets signed in 2026, they will likely have to place their order for long lead items shortly after. The squeeze comes when FLNG Hilli wraps up in Cameroon, and heads to Singapore for its upgrade.