This release includes business updates and unaudited financial results for the three months ended March 31, 2023 ("Q1", "Q1 2023" or the "Quarter") of Cool Company Ltd. ("CoolCo" or the "Company").
Q1 Highlights and Subsequent Events
Generated total operating revenues of $98.6 million in Q1, compared to $90.3 million for the fourth quarter 2022 ("Q4" or "Q4 2022")
Net income of $70.1 million in Q1, compared to $33.1 million for Q4 and earnings per share of $1.28 for Q1;
Achieved average Time Charter Equivalent Earnings ("TCE")1 of $83,700 per day for Q1, compared to $83,600, per day for Q4;
Adjusted EBITDA1 of $67.8 million for Q1, compared to $58.6 million for Q4;
Commenced previously announced three-year charter on February 11, 2023 at a rate that is front-end loaded and averages $120,000 per day over the charter period (average rate applies to quarterly revenues and TCE);
Concluded the sale of Golar Seal on March 22, 2023 for $184.3 million, releasing approximately $94.4 million, after repayment of its associated debt, that is available to fund the acquisition of the two Hyundai Samho LNG carriers (the "Newbuild Vessels") should the Company decide to exercise the newbuild option expiring at the end of June 2023;
On March 17, 2023, CoolCo's shares commenced trading on the New York Stock Exchange ("NYSE") under the ticker "CLCO";
On May 17, 2023, the Company announced a new multi-year time charter agreement for a TFDE vessel starting early 2024 with an energy major; and
Declared a dividend for Q1 of $0.41 per share, to be paid on or around June 9, 2023 to all shareholders of record on June 1, 2023.
Richard Tyrrell, CEO, commented:
"Over the quarters ahead, CoolCo has a clear path to further earnings and dividend growth, punctuated by a series of identifiable milestones: fixing the vessel that becomes available in September 2023, as well as the two vessels available in 2024 that are currently trading at rates well below market levels, and if we exercise the option to acquire two newbuild vessels adding further earnings backlog by securing charters for those vessels and funding the acquisition of those newbuilds with an optimal mix of debt and cash on hand.
The term market for modern LNG carriers has demonstrated both strength and stability, reflecting the long-term nature of the LNG business and the sector's supportive fundamentals. For the few owners with available tonnage, including CoolCo, charterers have remained eager to secure multi-year charters at attractive rates for owners. This stands in sharp contrast to the seasonal lows and high volatility of the spot market, which is currently made up almost entirely of sublets, rather than owners with available tonnage. CoolCo is in an excellent position to successfully execute our term chartering strategy, realize the latent earnings and dividend growth potential in our newbuild purchase option and vessels on below-market charters, and benefiting from the expanded investor base made possible by our recent NYSE listing.
Additionally, I would like to highlight the publication of our ESG report for 2022. Last year, the annual efficiency ratio that measures emissions, dropped by 4.5% bringing the total fall since 2019 to 18%, which compares to the IMO target of 6.5%. Our new performance plan includes LNGe upgrades to our TFDE vessels that are expected to reduce our annual efficiency ratio to 6.4 by 2030, a 35% reduction from 2019 levels".
Financial Highlights
The table below sets forth certain key financial information for Q1 2023, Q4 2022 and Q1 2022, split between Successor and Predecessor periods (as defined below).
| Q1 2023 | Q4 2022 | Three months ended March 31,2022 |
(in thousands of $, except TCE) | Successor | Successor | Successor | Predecessor | Total |
Time and voyage charter revenues | 91,168 | 79,032 | 4,285 | 36,542 | 40,827 |
Total operating revenues | 98,649 | 90,255 | 4,285 | 39,776 | 44,061 |
Operating income | 52,022 | 48,881 | 966 | 21,661 | 22,627 |
Net income | 70,132 | 33,069 | (966) | 16,024 | 15,058 |
Adjusted EBITDA1 | 67,814 | 58,621 | 1,958 | 27,400 | 29,358 |
Average daily TCE1 (to the closest $100) | 83,700 | 83,600 | 50,100 | 57,200 | 56,300 |
Note: The commencement of operations and funding of CoolCo and the acquisition of its initial tri-fuel diesel electric ("TFDE") LNG carriers, The Cool Pool Limited and the shipping and FSRU management organization from Golar LNG Limited ("Golar") were completed in a phased process. It commenced with the funding of CoolCo on January 27, 2022 and concluded with the acquisition of the LNG carrier and FSRU management organization on June 30, 2022, with vessel acquisitions taking place on different dates over that period. Results for the three months that commenced January 1, 2022 and ended March 31, 2022 have therefore been split between the period prior to the funding of CoolCo and various phased acquisitions of vessel and management entities (the "Predecessor" period) and the period subsequent to the various phased acquisitions (the "Successor" period). The combined results are not in accordance with U.S. GAAP and consist of the aggregate of selected financial data of the Successor and Predecessor periods. No other adjustments have been made to the combined presentation.
LNG Market Review
The Quarter commenced with the Japan/Korea Marker gas price ("JKM") at $29/MMBtu, the Dutch Title Transfer Facility gas price ("TTF") at $27/MMBtu and quoted TFDE headline spot rates of $163,000 per day. Unwinding of floating storage, a warmer than normal winter, falling LNG prices and no arbitrage to pull cargoes east saw available vessels increase throughout January to early February and spot rates began their seasonal decline. Sentiment and momentum turned positive in mid-February following confirmation of Freeport LNG's restart, although this was short-lived as a long list of available sublet tonnage in the Atlantic maintained pressure on rates. Term-rates, however, have remained strong with charterers needing to charter vessels for 12 months or longer to secure winter coverage. The Quarter concluded with JKM at $13/MMBtu, TTF at $15/MMBtu and quoted TFDE headline spot rates of $54,000 per day.
Masked by a spot market dominated by sublets, there are fewer owner-controlled vessels available to charter for the forthcoming winter than there were this time last year. Those few owners with available tonnage, including CoolCo, remain reluctant to fix their vessels for short periods that only cover the highly profitable winter market, preferring longer term work instead. Floating storage is once again higher than normal and interest in longer-term charters that cover the upcoming winter season is increasing. We expect that, already strong term rates will likely firm further over the coming months when CoolCo expects to fix its September 2023 vessel opening.
Operational Review
CoolCo's fleet continued to perform well with no technical off-hire during the Quarter. The Golar Seal completed its charter and was immediately delivered to her new owner on March 22, 2023, ensuring no idle-time and a Q1 fleet utilization of 100%. There are no drydocks planned for 2023, with the next drydock expected during the second quarter of 2024.
Business Development
CoolCo is in discussions with multiple potential charterers seeking work for the 2-stroke LNG carrier newbuilds with anticipated delivery in late 2024 which the Company has an option to acquire. With the recent sale of the Golar Seal, the Company has sufficient funds available to fund the initial milestones of the newbuild option (if exercised) on or prior to June 30, 2023. The total price of $234 million for each carrier is approximately 10% lower than currently quoted prices for comparable newbuild vessels that will not deliver until 2027/2028.
Financing and Liquidity
Inclusive of $94.4 million of cash released upon sale of Golar Seal, CoolCo had cash and cash equivalents of $240.6 million at March 31, 2023. Total short and long-term debt, net of deferred finance charges and after repayment of $88.0 million of debt associated with the Golar Seal, as of March 31, 2023 amounted to $1,032.4 million. Total Contractual Debt1 stood at $1,145.3 million, which comprised of $442.5 million in respect of the five vessel bank financing facility maturing in March 2027 (the "$570 million bank facility"), $500.6 million in respect of the four vessel bank financing facility maturing in May 2029 (the "$520 million term loan facility"), and $202.2 million in respect of the two sale and leaseback facilities maturing in January 2025 (Ice and Kelvin).
During Q1, we entered into further floating interest rate (SOFR) swap agreements for a notional amount of $132.2 million in respect of the ING bank facility. Subsequent to Quarter end, we entered into further SOFR swap agreements for a notional amount of $40.0 million in respect of the same facility. Overall, the Company's interest rate on its debt is fixed or hedged for approximately 89%, adjusting for existing cash on hand, but excluding cash that is required to exercise the newbuild option.
Corporate and Other Matters
As of March 31, 2023, CoolCo had 53,688,462 shares issued and outstanding. Of these, 31,254,390 shares (58.2%) were owned by EPS Ventures Ltd ("EPS") and 22,434,072 (41.8%) were publicly owned.
On March 14, 2023, in relation to the proposed listing of the Company's ordinary shares on the NYSE, the U.S. Securities and Exchange Commission declared the Company's registration statement on Form 20-F effective. After a scheduled two-day trading suspension on the Euronext Growth Oslo, shares in CoolCo commenced trading on both exchanges on March 17, 2023 under the ticker "CLCO". No CoolCo securities were issued in connection with the NYSE share listing.
In line with the Company's variable dividend policy, the Board has declared a Q1 dividend of $0.41 per ordinary share. The record date is June 1, 2023 and the dividend will be distributed to DTC-registered shareholders on or around June 9, 2023, while, due to the implementation of CSDR in Norway, the dividend will be distributed to Euronext VPS-registered shareholders on or about June 14, 2023.
Outlook
With a significant volume of US cargoes currently being diverted to Europe and thereby reducing aggregate fleet tonne-miles, it is important to place the current 50% orderbook-to-fleet ratio into both an appropriate larger context and the relevant competitive context for CoolCo. Set against a backdrop of lower tonne-miles as a result of more US cargoes being diverted to Europe, an orderbook representing 50% of the on-the-water fleet looks high. CoolCo remains of the view that underlying market fundamentals are supportive of the orders. Ninety percent of vessels on order are committed to specific projects, and an increased charterer emphasis on energy security rather than utilization maximization, longer discharge times at European FSRUs and seasonal storage plays mean that rising tonne-time should mitigate the impact of lower tonne-miles for cargoes diverted to Europe. Additionally, IMO carbon intensity indicator rules that came into effect on January 1 2023, shipping being subject to European carbon pricing from 2024, charterer commitments to reduce their carbon footprints and high LNG prices are all factors that increase the appeal and competitive advantage of modern and efficient vessels such as those in CoolCo fleet. Much of this demand will be at the expense of older, less efficient steam turbine vessels that represent approximately 22% of the combined current and ordered fleet capacity. Lastly, the limited number of modern vessels that do become available over the next 18 months are in the hands of even fewer owners than was previously the case, adding to their bargaining power. As evidenced by a healthy market for 3+ year charters, owners appear reluctant to fix vessels for short durations covering only the most profitable winter months when a willingness to pay for floating storage peaks, preferring instead to secure coverage until the next wave of LNG volumes come into the market in 2026-2027. With a 4-year lead-time, a vessel ordered today is unlikely to frustrate this position, and at $260 million per newbuild vessel for delivery 2026/27, it will set an increased benchmark charter rate against which the fleet becomes priced. Collectively, these fundamentals are expected to support the continuity of a healthy charter rate environment independent of a seasonally volatile spot market dominated by sublets.
FORWARD LOOKING STATEMENTS
This press release and any other written or oral statements made by us in connection with this press release include forward-looking statements. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as "believe," "anticipate," "intend," "estimate," "forecast," "project," "plan," "potential," "will," "may," "should," "expect," "could," "would," "predict," "propose," "continue," or the negative of these terms and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements relating to our ability and expectations to charter available vessels and chartering strategy, outlook, expected results and performance , earnings and dividend growth potential and path, statements with respect to the option to acquire two newbuilds, dividends, expected industry and business trends including expected trends in LNG demand, LNG orderbook, LNG vessel supply and demand including trends of the spot market and the term market, and factors impacting supply and demand of vessels, backlog, charter and spot rates, contracting, utilization, LNG vessel newbuild order-book, statements under "LNG Market Review" and "Outlook" and other non-historical matters.
The forward-looking statements in this document are based upon management's current expectations, estimates and projections. These statements involve significant risks, uncertainties, contingencies and factors that are difficult or impossible to predict and are beyond our control, and that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Numerous factors could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by these forward-looking statements including:
our limited operating history under the CoolCo name;
changes in demand in the LNG shipping industry, including the market for modern TFDE vessels and modern 2-stroke vessels;
general LNG market conditions, including fluctuations in charter hire rates and vessel values;
our ability to successfully employ our vessels;
our expectations regarding the availability of vessel acquisitions and our ability to exercise an option agreement with affiliates of EPS to complete the acquisition of the Newbuild Vessels that are scheduled to be delivered in the second half of 2024;
changes in the supply of LNG vessels;
our ability to procure or have access to financing and refinancing, including financing for the Newbuild Vessels;
our continued borrowing availability under our credit facilities and compliance with the financial covenants therein;
potential conflicts of interest involving our significant shareholders;
our ability to pay dividends;
general economic, political and business conditions, including sanctions and other measures;
changes in our operating expenses due to inflationary pressure and volatility of supply and maintenance including fuel or cooling down prices and lay-up costs when vessels are not on charter, drydocking and insurance costs;
fluctuations in foreign currency exchange and interest rates;
vessel breakdowns and instances of loss of hire;
vessel underperformance and related warranty claims;
potential disruption of shipping routes and demand due to accidents, piracy or political events;
compliance with, and our liabilities under, governmental, tax environmental and safety laws and regulations;
information system failures, cyber incidents or breaches in security;
changes in governmental regulation, tax and trade matters and actions taken by regulatory authorities; and
other risks indicated in the risk factors included in CoolCo's Annual Report on Form 20-F for the year ended December 31, 2022 and other filings with the U.S. Securities and Exchange Commission.
The foregoing factors that could cause our actual results to differ materially from those contemplated in any forward-looking statement included in this report should not be construed as exhaustive. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.
As a result, you are cautioned not to place undue reliance on any forward-looking statements which speak only as of the date of this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless required by law.
Responsibility Statement
We confirm that, to the best of our knowledge, the unaudited condensed consolidated financial statements for the quarter ended March 31, 2023, which have been prepared in accordance with accounting principles generally accepted in the United States (US GAAP) give a true and fair view of the Company's consolidated assets, liabilities, financial position and results of operations. To the best of our knowledge, the financial report for the quarter ended March 31, 2023 includes a fair review of important events that have occurred during the period and their impact on the unaudited condensed consolidated financial statements, the principal risks and uncertainties, and major related party transactions.
本新聞稿包括Cool Company Ltd.(“CoolCo” 或 “公司”)截至2023年3月31日的三個月(“第一季度”、“2023年第一季度” 或 “季度”)的業務更新和未經審計的財務業績。
第 1 季度亮點和後續活動
第一季度創造的總營業收入爲9,860萬美元,而2022年第四季度(“第四季度或 “2022年第四季度”)爲9,030萬美元
第一季度淨收入爲7,010萬美元,而第四季度爲3,310萬美元,第一季度每股收益爲1.28美元;
達到《時光憲章》的平均等值收益(“TCE”)1 第一季度爲每天83,700美元,而第四季度爲每天83,600美元;
調整後 EBITDA1 第一季度爲6,780萬美元,而第四季度爲5,860萬美元;
先前宣佈的三年包機於 2023 年 2 月 11 日開始,費率爲前端裝載費,包租期內平均每天12萬美元(平均費率適用於季度收入和 TCE);
完成銷售 戈拉爾海豹 2023年3月22日以1.843億美元的價格在償還相關債務後釋放約9,440萬美元,用於爲收購兩艘現代三湖液化天然氣運輸船(“新造船”)提供資金,前提是公司決定行使將於2023年6月底到期的新建造期權;
2023年3月17日,CoolCo的股票開始在紐約證券交易所(“紐約證券交易所”)上市,股票代碼爲 “CLCO”;
2023年5月17日,公司宣佈了一項新的多年期租船協議,該協議將從2024年初開始,與一家能源巨頭簽訂一艘TFDE船;以及
宣佈第一季度每股0.41美元的股息,將在2023年6月9日左右支付給2023年6月1日的所有登記股東。
首席執行官理查德·泰瑞爾評論說:
“在接下來的幾個季度中,CoolCo爲進一步實現收益和股息增長開闢了明確的道路,其中包括一系列可識別的里程碑:修復2023年9月上市的兩艘目前交易價格遠低於市場水平的船隻,以及如果我們行使收購兩艘新造船舶的選擇權,通過爲這些船舶獲得租船併爲收購這些最佳組合的新造船提供資金,從而進一步增加積壓的收益債務和手頭現金。
現代液化天然氣運輸船的長期市場表現出了實力和穩定性,反映了液化天然氣業務的長期性質和該行業的支撐性基本面。對於包括CoolCo在內的少數擁有可用噸位的船東來說,租船人仍然渴望以對船東具有吸引力的價格獲得多年租約。這與現貨市場的季節性低點和高波動形成鮮明對比,現貨市場目前幾乎完全由轉租組成,而不是由擁有可用噸位的所有者組成。CoolCo處於有利地位,可以成功執行我們的定期租船戰略,實現我們的新建收購期權和低於市場租船的潛在收益和股息增長潛力,並受益於我們最近在紐約證券交易所上市所帶來的投資者羣的擴大。
此外,我想重點介紹我們 2022 年 ESG 報告的發佈。去年,衡量排放的年效率比下降了4.5%,使自2019年以來的總降幅達到18%,而國際海事組織的目標爲6.5%。我們的新績效計劃包括對我們的TFDE船進行LnGe升級,預計到2030年,我們的年效率比率將降至6.4,比2019年的水平降低35%”。
財務要聞
下表列出了2023年第一季度、2022年第四季度和2022年第一季度的某些關鍵財務信息,分爲繼任期和前任期(定義如下)。
| 2023年第一季度 | 2022 年第四季度 | 截至2022年3月31日的三個月 |
(以千美元計,TCE 除外) | 繼任者 | 繼任者 | 繼任者 | 前任 | 總計 |
定期和航程包機收入 | 91,168 | 79,032 | 4,285 | 36,542 | 40,827 |
總營業收入 | 98,649 | 90,255 | 4,285 | 39776 | 44,061 |
營業收入 | 52,022 | 48881 | 966 | 21,661 | 22,627 |
淨收入 | 70,132 | 33,069 | (966) | 16,024 | 15,058 |
調整後 EBITDA1 | 67,814 | 58621 | 1,958 | 27,400 | 29358 |
平均每日 TCE1 (至最接近的 100 美元) | 83,700 | 83,600 | 50,100 | 57,200 | 56,300 |
注意: CoolCo的運營和融資的開始以及其首批三燃料柴油電動(“TFDE”)液化天然氣運輸船、The Cool Pool Limited以及從Golar LNG LNG Linmited(“Golar”)手中收購航運和FSRU管理組織的過程是分階段完成的。它始於2022年1月27日爲CoolCo提供資金,最後於2022年6月30日收購了液化天然氣運輸船和FSRU管理組織,在此期間,船舶收購在不同的日期進行。因此,從2022年1月1日開始至截至2022年3月31日的三個月的業績分爲CoolCo融資之前的時期(“前身” 期)和各種分階段收購船舶和管理實體之前的時期(“前身” 期)和各種分階段收購之後的階段(“繼任期”)。合併業績不符合美國公認會計原則,由繼任期和前任期選定財務數據的彙總組成。未對合並列報方式進行其他調整。
液化天然氣市場回顧
本季度初,日本/韓國市場天然氣價格(“JKM”)爲29美元/百萬英熱單位,荷蘭產權轉讓機制天然氣價格(“TTF”)爲27美元/百萬英熱單位,TFDE的標題現貨價格爲每天16.3萬美元。浮動儲存的結束、冬季比平時更溫暖、液化天然氣價格下跌以及沒有向東拉貨的套利,使得從1月到2月初,可用船舶增加,現貨價格開始出現季節性下降。在確認弗裏波特液化天然氣重啓後,市場情緒和勢頭在2月中旬轉爲樂觀,儘管這是短暫的,因爲大西洋一長串可用的轉租噸位仍然對利率構成壓力。但是,定期費率仍然很高,租船人需要租船12個月或更長時間才能獲得冬季保險。本季度結束時,JKM爲13美元/百萬英熱單位,TTF爲15美元/百萬英熱單位,TFDE的標題即期匯率爲每天5.4萬美元。
在以轉租爲主的現貨市場的掩蓋下,可供在即將到來的冬季租用的由船東控制的船隻比去年同期減少了。包括CoolCo在內的少數擁有可用噸位的船東,仍然不願在短期內修理僅涵蓋高利潤的冬季市場的船隻,而是更喜歡長期工作。浮動存儲量再次高於正常水平,人們對涵蓋即將到來的冬季的長期包機的興趣與日俱增。我們預計,本已強勁的長期利率可能會在未來幾個月內進一步走強,屆時CoolCo預計將修復2023年9月的船舶開放時間。
運營審查
CoolCo的機隊在本季度繼續表現良好,沒有停租任何技術人員。該 戈拉爾海豹 完成包機並於 2023 年 3 月 22 日立即交付給她的新主人,確保沒有空閒時間,第一季度的機隊利用率達到 100%。2023年沒有計劃建造幹船塢,下一個幹船塢預計在2024年第二季度建成。
業務發展
CoolCo正在與多家潛在租船人進行討論,爲這艘新建的二衝程液化天然氣運輸船尋找工作,該公司可以選擇收購,預計於2024年底交付。隨着最近的出售 戈拉爾海豹,公司有足夠的資金在2023年6月30日當天或之前爲新建期權(如果行使)的初始里程碑提供資金。每艘航母的總價格爲2.34億美元,比目前要到2027年/2028年才能交付的同類新造船的報價低約10%。
融資和流動性
包括出售後釋放的9,440萬美元現金 戈拉爾海豹,截至2023年3月31日,CoolCo的現金及現金等價物爲2.406億美元。扣除遞延融資費用和償還與之相關的8,800萬美元債務後的短期和長期債務總額 戈拉爾海豹,截至2023年3月31日,總額爲10.324億美元。合同債務總額1 爲11.453億美元,其中包括2027年3月到期的五船銀行融資額度(“5.7億美元銀行融資”)的4.425億美元,2029年5月到期的四船銀行融資額度(“5.2億美元定期貸款額度”)的5.06億美元,以及2025年1月到期的兩項售後回租融資的2.022億美元(冰 和 開爾文)。
在第一季度,我們就荷蘭國際集團的銀行融資簽訂了進一步的浮動利率(SOFR)互換協議,名義金額爲1.322億美元。季度結束後,我們就同一融資額度簽訂了進一步的SOFR互換協議,名義金額爲4,000萬美元。總體而言,經現有手頭現金調整後,該公司的債務利率爲固定或對沖約89%,但不包括行使新建期權所需的現金。
公司和其他事務
截至2023年3月31日,CoolCo已發行和流通53,688,462股股票。其中,31,254,390股(58.2%)由EPS Ventures Ltd(“EPS”)擁有,22,434,072股(41.8%)爲公有股。
2023 年 3 月 14 日,關於公司普通股在紐約證券交易所上市的提議,美國證券交易委員會宣佈公司在 20-F 表上的註冊聲明生效。在奧斯陸泛歐交易所Growth暫停交易兩天後,CoolCo的股票於2023年3月17日開始在兩家交易所上市,股票代碼爲 “CLCO”。沒有發行與紐約證券交易所股票上市相關的CoolCo證券。
根據公司的可變股息政策,董事會已宣佈第一季度派發每股普通股0.41美元的股息。記錄日期爲2023年6月1日,股息將在2023年6月9日左右分配給在DTC註冊的股東,而由於挪威實施CSDR,股息將在2023年6月14日左右分配給泛歐交易所VPS註冊股東。
外表
由於目前有大量的美國貨物被轉移到歐洲,從而減少了船隊的總噸英里數,因此必須將當前50%的訂單與車隊的比率置於適當的更大背景和CoolCo的相關競爭背景下。在越來越多的美國貨物轉運到歐洲導致噸里程減少的背景下,佔水上船隊50%的訂單量看起來很高。CoolCo仍然認爲,潛在的市場基本面支持這些訂單。90% 的訂購船隻都致力於特定項目,租船公司越來越重視能源安全,而不是最大限度地提高利用率,歐洲FSRU的卸貨時間更長,季節性倉儲場意味着噸位時間的增加應該可以減輕轉運到歐洲的貨物的噸里程減少的影響。此外,國際海事組織碳強度指標規則於2023年1月1日生效,自2024年起航運將受歐洲碳定價的約束,承租人承諾減少碳足跡,以及液化天然氣價格居高不下,這些都是增加現代高效船隻(例如CoolCo船隊)的吸引力和競爭優勢的因素。其中大部分需求將以犧牲較舊、效率較低的蒸汽輪機船爲代價,這些船隻約佔當前和訂購船隊總容量的22%。最後,未來18個月內可用的現代船隻數量有限,但掌握在船東手中的船東比以前還要少,這增加了他們的討價還價能力。正如3年以上租船的健康市場所證明的那樣,船東似乎不願在短期內修理船隻,只涵蓋利潤最高的冬季,因爲他們願意爲浮動儲存量付費,而是寧願在2026-2027年下一波液化天然氣量進入市場之前獲得保障。由於交貨期爲4年,今天訂購的船隻不太可能阻礙這一地位,而2026/27年交付的每艘新造船舶爲2.6億美元,它將設定更高的基準租船費率,船隊的定價基準租金將以此爲基礎。總體而言,預計這些基本面將支持健康的包機利率環境的延續,不受以轉租爲主的季節性波動現貨市場的影響。
前瞻性陳述
本新聞稿以及我們就本新聞稿發表的任何其他書面或口頭聲明包括前瞻性陳述。除歷史事實陳述外,所有涉及將來、應該、可能或可能發生的活動和事件的陳述均爲前瞻性陳述。這些前瞻性陳述是根據1995年《美國私人證券訴訟改革法》的 “安全港” 條款作出的。你可以通過諸如 “相信”、“預期”、“打算”、“估計”、“預測”、“項目”、“計劃”、“潛在”、“將”、“可能”、“應該”、“期望”、“可能”、“將”、“預測”、“提議”、“繼續” 等詞語或短語來識別這些前瞻性陳述,類似的表達方式旨在識別此類前瞻性聲明。這些前瞻性陳述包括與我們租用可用船隻的能力和預期以及租船戰略、展望、預期業績和業績、收益和股息增長潛力和路徑有關的陳述、與收購兩艘新船的選擇有關的陳述、股息、預期的行業和業務趨勢,包括液化天然氣需求的預期趨勢、液化天然氣訂單簿、液化天然氣船的供應和需求,包括現貨市場和定期市場的趨勢,以及影響船舶供需、積壓、租船的因素現貨價格、合同、利用率、液化天然氣船新造訂單簿、《液化天然氣市場回顧》和《展望》下的聲明以及其他非歷史事項。
本文件中的前瞻性陳述基於管理層當前的預期、估計和預測。這些陳述涉及重大風險、不確定性、突發事件以及難以或無法預測且超出我們控制的因素,可能導致我們的實際業績、業績或成就與前瞻性陳述所表達或暗示的業績、業績或成就存在重大差異。許多因素可能導致我們的實際業績、活動水平、業績或成就與這些前瞻性陳述所表達或暗示的業績、活動水平、業績或成就存在重大差異,包括:
我們以 CoolCo 的名義運營歷史有限;
液化天然氣運輸行業需求的變化,包括現代TFDE船和現代二衝程船的市場;
液化天然氣市場總體狀況,包括包機租金和船舶價值的波動;
我們成功使用船隻的能力;
我們對船舶收購的可用性的預期,以及我們與EPS關聯公司行使期權協議以完成對計劃於2024年下半年交付的Newbuild船舶的收購的能力的預期;
液化天然氣船供應的變化;
我們獲得或獲得融資和再融資的能力,包括爲新造船隻融資;
我們在信貸額度下的持續借款可用性以及其中的財務契約的遵守情況;
涉及我們的主要股東的潛在利益衝突;
我們支付股息的能力;
總體經濟、政治和商業狀況,包括制裁和其他措施;
由於通貨膨脹壓力以及供應和維護的波動,包括燃料或降溫價格以及船舶不租賃、幹船停靠和保險費用時的鋪設成本,導致我們的運營支出發生變化;
外幣匯率和利率的波動;
船舶故障和租金損失情況;
船舶性能不佳和相關的保修索賠;
事故、海盜行爲或政治事件可能導致航運路線和需求中斷;
遵守政府、稅務環境和安全法律和法規,以及我們在這些法律和法規下的責任;
信息系統故障、網絡事件或安全漏洞;
政府法規、稅收和貿易事務的變化以及監管機構採取的行動;以及
CoolCo截至2022年12月31日止年度的20-F表年度報告以及向美國證券交易委員會提交的其他文件中包含的風險因素中指出的其他風險。
上述可能導致我們的實際業績與本報告中包含的任何前瞻性陳述中設想的存在重大差異的因素不應被解釋爲詳盡無遺。此外,我們在競爭激烈且瞬息萬變的環境中運營。新的風險和不確定性時不時出現,我們無法預測所有可能影響本新聞稿中包含的前瞻性陳述的風險和不確定性。前瞻性陳述中反映的結果、事件和情況可能無法實現或發生,實際結果、事件或情況可能與前瞻性陳述中描述的結果、事件或情況存在重大差異。
因此,提醒您不要過分依賴任何僅代表本新聞稿發佈之日的前瞻性陳述。除非法律要求,否則公司沒有義務公開更新或修改任何前瞻性陳述,無論是由於新信息、未來事件還是其他原因。
責任聲明
我們確認,據我們所知,截至2023年3月31日的季度未經審計的簡明合併財務報表是根據美國普遍接受的會計原則(US GAAP)編制的,真實和公允地反映了公司的合併資產、負債、財務狀況和經營業績。據我們所知,截至2023年3月31日的季度財務報告包括對在此期間發生的重要事件及其對未經審計的簡明合併財務報表、主要風險和不確定性以及主要關聯方交易的影響的公平審查。