Norway-based ALNG, formerly Awilco LNG, reported a net loss of $6.4 million for the second quarter of 2026, unchanged from the preceding three months. Loss per share stood at $0.03, bringing the first-half net loss to $12.8 million, or $0.08 per share.
Net freight income fell to $5.9 million from $6.2 million in the first quarter, while first-half freight revenue reached $12.1 million, compared with $16 million in the same period of 2025.
Earnings before interest, taxes, depreciation and amortisation declined to $0.6 million from $0.9 million in the previous quarter, taking the first-half total to $1.5 million versus $7.7 million a year earlier.
Fleet utilisation fell to 66 per cent in the second quarter and averaged 67 per cent during the first half, compared with 68 per cent in both corresponding periods. Daily net time charter equivalent rates stood at $32,600 for the quarter and $33,400 for the first half, down from $42,600 and $44,300 respectively in 2025.
“The LNG shipping segment experienced volatile spot rates and rising geopolitical disruptions in the first half of 2026,” said Interim Chief Executive Officer Jens-Julius Nygaard.
He said spot rates for tri-fuel diesel-electric vessels fluctuated between $10,000 and $180,000 per day, driven by changing Atlantic-to-Pacific trade flows and disruptions to Middle East transit routes.
ALNG expects to complete its first trade under a new trading initiative by the end of the year. The company said it is pursuing opportunities across both operating segments ahead of the winter season, citing low European gas storage levels and price volatility.
The company owns and operates two 2013-built 156,000-cubic-metre membrane LNG carriers, WilForce and WilPride.
