Tag Archives: Awilco LNG
LNG Carrier Sector Update (BUY): Earnings Surge to Three-Year High
The dynamics for LNG carriers have changed and the cyclical inflection point is definitively behind us as spot rates surge towards levels not seen in three years. We see utilization rising steadily towards the end of this decade, with corresponding...
Posted in LNG carriers, shipping
Tagged ALNG, ALNG-NO, Awilco LNG, Flex LNG, FLNG, FLNG-NO, GasLog, GLOG, GLOG-US, LNG, LNG carriers
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ALNG-NO: Getting ready to ride the cycle (BUY, TP 5.6 [6.9])
The company today announced a restructuring and recapitalization of the balance sheet by deferring charter hire payments to Teeky LNG Partners and a private equity placement of USD ~25m through a book building process. As we touched upon in our initiation in...
ALNG-NO: Initiation (BUY, TP 6.9)
The company is too small for most institutional investors, and we see limited prospects for growth. Despite the share illiquidity and stretched liquidity position on our estimates, we believe there is upside to the share price based on the continued massive discount on steel and our positive sector view. We initiate coverage of Awilco LNG with a BUY recommendation and target price of NOK 6.9 (+7%).
