Log In

Reset Password

<Bz23>Golar posts record profit

LONDON (Bloomberg) — Golar LNG Ltd., a Bermuda-based owner of liquefied natural gas tankers, posted a record quarterly profit after the sale of a ship it had on order.Net income rose to $53.3 million, or 81 cents a share, from $27.9 million, or 43 cents, a year earlier, Golar said in a statement to the Oslo Stock Exchange yesterday. The sale of the ship accounted for $41 million of the profit.

Sales fell 6 percent to $53.7 million as rival operators hired out vessels previously used for storage, weakening ship- rental rates. The expansion of the global LNG fleet as new ships were delivered also hurt rates, Golar said.