Norwegian LNG shipowner ALNG ASA posted a $6.4m second-quarter net loss as fleet utilisation fell to 66% and net TCE earnings dropped to $32,600 per day, according to ALNG’s second-quarter results statement.
The loss for the three months ended 30 June was unchanged from the first quarter. Loss per share was $0.03, compared with $0.05 in the previous quarter. Net freight income slipped to $5.9m from $6.2m quarter on quarter, while EBITDA fell to $0.6m from $0.9m.
Fleet utilisation declined from 68%, while net TCE earnings were down from $42,600 per day in the second quarter of 2025.
Interim chief executive Jens-Julius Ramdahl Nygaard said TFDE spot rates had swung between $10,000 and $180,000 per day during the first half amid shifting Atlantic-to-Pacific trade routes and Middle East transit challenges. “The timing of our open positions negatively impacted on the overall earnings and utilisation of the fleet in the second quarter,” Nygaard said.
ALNG recorded a first-half net loss of $12.8m, or $0.08 per share. Net freight income fell to $12.1m from $16m a year earlier and EBITDA dropped to $1.5m from $7.7m. Fleet utilisation was 67% against 68%, while net TCE declined to $33,400 per day from $44,300. The company expects its LNG trading initiative to enter its first LNG trade by the end of 2026. A subsequent offering raised NOK 29.6m ($3.14m), following a private placement that generated gross proceeds of NOK 251.3m ($26.68m).
ALNG changed its name from Awilco LNG ASA on 3 June 2026. The Norwegian company owns and operates the 2013-built, 156,000-cbm TFDE membrane LNG carriers WilForce and WilPride for international trade.