Edition:
United Kingdom

Hoegh LNG Holdings Ltd (HLNGH.OL)

HLNGH.OL on Oslo Stock Exchange

39.90NOK
23 Apr 2019
Change (% chg)

kr0.30 (+0.76%)
Prev Close
kr39.60
Open
kr39.80
Day's High
kr40.05
Day's Low
kr39.45
Volume
24,613
Avg. Vol
77,337
52-wk High
kr51.40
52-wk Low
kr34.30

Latest Key Developments (Source: Significant Developments)

Hoegh LNG Q4 EBITDA beats forecast, helped by one-off
Wednesday, 27 Feb 2019 

Feb 27 (Reuters) - Hoegh LNG Holdings Ltd ::HOEGH LNG Q4 EBITDA $81.4 MILLION (REUTERS POLL $50.0 MILLION).HOEGH LNG Q4 NET RESULT $45.0 MILLION (REUTERS POLL $7.9 MILLION).EBITDA OF USD 81.4 MILLION, INCLUDING USD 34.7 MILLION IN RECOGNITION OF REMAINING PAYMENTS FROM EGAS UNDER AMENDED CONTRACT STRUCTURE FOR HÖEGH GALLANT.HOEGH LNG DECLARES DIVIDEND OF $0.025 PER SHARE (REUTERS POLL $0.03).OPERATING RESULTS IN THE FIRST QUARTER OF 2019 ARE LIKELY TO BE POSITIVELY AFFECTED BY HÖEGH ESPERANZA OPERATING IN FSRU MODE FOR THE FULL QUARTER, A FULL QUARTER OF REVENUE CONTRIBUTION FROM HÖEGH GANNET AND THE IMPLEMENTATION OF IFRS 16.POSITIVE ELEMENTS IN Q1 2019 WILL BE PARTLY OFFSET BY OPERATING EXPENSES AND DEPRECIATION FOR HÖEGH GANNET, ACCELERATED DEPRECIATION OF INDEPENDENCE AND THE ELIMINATION OF REVENUE EARNED UNDER THE SUSPENSION AND SETTLEMENT AGREEMENT WITH EGAS.FSRU #10 TO BE DELIVERED FROM SAMSUNG HEAVY INDUSTRIES BY MID-2019 IS EXPECTED TO BE EMPLOYED IN THE LNGC SHORT-TERM MARKET FOR A LIMITED PERIOD.HÖEGH LNG REMAINS INVOLVED IN THE FINAL BIDDING ROUND FOR ONE ADDITIONAL TENDER PROCESS.THE GROUP IS INVOLVED IN SEVERAL ADDITIONAL SELECTION AND TENDER PROCESSES AT VARIOUS STAGES OF DEVELOPMENT.CHINA REMAINS A KEY FOCUS AREA SINCE ADDITIONAL REGASIFICATION CAPACITY IS DEEMED NECESSARY TO MEET INCREASING DEMAND FOR NATURAL GAS FOR THE CHINESE MARKET.  Full Article

Hoegh LNG wins contract in Australia
Friday, 21 Dec 2018 

Dec 21 (Reuters) - Hoegh LNG Holdings Ltd ::HÖEGH LNG : HÖEGH LNG SELECTED AS THE FSRU PROVIDER TO AGL'S CRIB POINT.CHARTER IS FOR A PERIOD OF 10 YEARS AND REMAINS CONDITIONAL ON BOARD OF DIRECTORS OF AGL ENERGY LTD. TAKING A FINAL INVESTMENT DECISION IN RELATION TO PROJECT AND RECEIPT BY CHARTERER OF KEY ENVIRONMENTAL PROJECT APPROVALS..FSRU ASSIGNED TO PROJECT IS EXPECTED TO GENERATE ANNUAL EBITDA OF BETWEEN USD 29 MILLION AND USD 31 MILLION DEPENDING ON PLANNED TECHNICAL MODIFICATIONS THAT MAY BE SPECIFIED BY AGL BEFORE PROJECT START-UP..  Full Article

Hoegh LNG takes delivery of 9th FSRU vessel
Thursday, 6 Dec 2018 

Dec 6 (Reuters) - Hoegh LNG Holdings Ltd ::HÖEGH LNG : DELIVERY OF FSRU NUMBER NINE, "HÖEGH GANNET".TODAY TOOK DELIVERY OF HÖEGH GANNET, ITS NINTH FLOATING STORAGE AND REGASIFICATION UNIT (FSRU).GANNET IS PART OF HLNG'S ONGOING TENDER PROCESSES FOR FSRU PROJECTS WITH SCHEDULED START-UP IN 2019-21 PERIOD.FOR INTERIM PERIOD BETWEEN DELIVERY AND START-UP UNDER A LONG-TERM CONTRACT IT WILL SERVE AN LNGC CHARTER WITH NATURGY, WHICH STARTS IMMEDIATELY AFTER POSITIONING VOYAGE FROM SHIPYARD.THIS INTERIM CONTRACT RUNS FOR 15 MONTHS, UNDER WHICH HÖEGH GANNET WILL EARN A FIXED DAYRATE IN LINE WITH HISTORICAL MEDIUM TERM LNGC MARKET.GANNET HAS REGASIFICATION CAPACITY OF 1 BCF PER DAY AND STORAGE CAPACITY OF 170 000 CBM OF LNG, COMBINED MAKING IT LARGEST FSRU BUILT BY CAPACITY.  Full Article

Hoegh LNG Appoints new CFO
Monday, 3 Dec 2018 

Dec 3 (Reuters) - Hoegh LNG Holdings Ltd ::APPOINTMENT OF NEW CFO.HÅVARD FURU IS APPOINTED AS NEW CHIEF FINANCIAL OFFICER (CFO) OF HÖEGH LNG AS EFFECTIVE 1 MARCH 2019.INTERIM CFO, STEFFEN FØREID, WILL STEP DOWN EFFECTIVE 1 MARCH 2019 AND WILL FROM THEN CONTINUE IN HIS ROLE AS CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER OF HÖEGH LNG PARTNERS LP.HÅVARD FURU COMES FROM POSITION AS CFO OF LAW FIRM WIKBORG REIN.  Full Article

Hoegh LNG says Esperanza starts commissioning for China FSRU operations
Tuesday, 6 Nov 2018 

Nov 6 (Reuters) - Hoegh LNG Holdings Ltd ::HÖEGH ESPERANZA COMMISSIONING FOR FSRU OPERATIONS IN TIANJIN, CHINA.HÖEGH ESPERANZA HAS ARRIVED AT TIANJIN LNG TERMINAL IN CHINA AND HAS STARTED COMMISSIONING FOR FSRU OPERATIONS.WITH AN ANTICIPATED ANNUALISED EBITDA CONTRIBUTION WHEN IN FSRU MODE OF APPROXIMATELY USD 33 MILLION.FSRU HÖEGH ESPERANZA WAS DELIVERED FROM HYUNDAI HEAVY INDUSTRIES IN APRIL 2018 AND ENTERED CONTRACT WITH CNOOC IN JUNE 2018.FOLLOWING AN AGGRESSIVE COAL-TO-GAS SWITCH, CHINA'S LNG IMPORTS LOOK TO INCREASE BY ALMOST 50% IN 2018.POTENTIAL FOR FURTHER INCREASES IN LNG IMPORTS REMAINS SIGNIFICANT.  Full Article

Hoegh LNG CEO says dividend cut is temporary
Wednesday, 28 Feb 2018 

Feb 28 (Reuters) - Hoegh Lng Holdings Ltd ::HOEGH LNG CEO SAYS DIVIDEND CUT IS TEMPORARY, WILL BE REVIEWED WHEN CUSTOMERS MAKE FIRMER COMMITMENT TO TAKE ON VESSELS THAT ARE UNDER CONSTRUCTION.FIRST QUARTER DIVIDEND IS CUT TO $0.025 PER SHARE FROM $0.125 IN Q4 .HOEGH LNG CEO SAYS PRIORITY IS TO SECURE CONTRACTS FOR UNIT NUMBER 8, 9 AND 10 UNDER CONSTRUCTION, WE ARE IN SEVERAL ADVANCED DISCUSSIONS.HOEGH LNG CEO SAYS CAN'T BE MORE SPECIFIC ON TIMING OF ANY CONTRACTS, ADDS TENDERS UNDER WAY IN EUROPE SOUTH AMERICA, MIDDLE EAST.HOEGH LNG CFO: PLAN IS TO REFINANCE UNSECURED DEBT IN THE NORDIC HIGH-YIELD BOND MARKET.  Full Article

Hoegh LNG cuts dividend, focus on securing new contracts
Wednesday, 28 Feb 2018 

Feb 28 (Reuters) - Hoegh Lng Holdings Ltd ::HOEGH LNG Q4 EBITDA $‍43.0​ MILLION (REUTERS POLL $39 MILLION).HOEGH LNG DECLARES DIVIDEND OF $‍0.025​ PER SHARE (REUTERS POLL $0.13) VS $0.125 PER SHARE IN PREVIOUS QUARTER.HOEGH LNG Q4 RESULT AFTER TAX $‍20​ MILLION (REUTERS POLL $4.5 MILLION).‍BOARD OF DIRECTORS HAS DECIDED IT PRUDENT TO REDUCE DIVIDEND PAYMENTS IN ORDER TO OPTIMISE OUR EQUITY CAPITAL TOWARDS SUSTAINABLE LONG-TERM VALUE CREATION​.OUR BUSINESS DEVELOPMENT ACTIVITY REMAINS FOCUSED ON SECURING LONG TERM CONTRACTS FOR OUR FSRUS UNDER CONSTRUCTION, AND HERE WE ARE IN ADVANCED STAGES IN SEVERAL TENDERS WITH NEAR TERM DECISION POINTS​.‍WE CONTINUE TO SEE VALUE IN PROVISION OF DIVIDENDS TO OUR SHAREHOLDERS, AND DIVIDEND AMOUNT IS SUBJECT TO RE-EVALUATION AS WE FIRM UP NEW CONTRACTS​.HOEGH LNG Q4 OPERATING RESULT $‍​31.7 MILLION (REUTERS POLL $27.7 MILLION).HÖEGH LNG’S ATTENTION IS FOCUSED ON ESTABLISHING LONG-TERM EMPLOYMENT ON BINDING TERMS FOR THE THREE NEWBUILDINGS STILL UNDER CONSTRUCTION‍​.  Full Article

Hoegh LNG terminates FSRU deal, hopes for alternative employment
Friday, 24 Nov 2017 

Nov 24 (Reuters) - Hoegh Lng Holdings Ltd :Termination of fsru charter agreement with Global Energy Infrastructure.‍As explained in its q3 2017 financial report issued 16 november 2017, Hoegh lng has considered its options under contract with GEI​.‍Concluded to terminate fsru charter agreement signed 15 december 2016​.‍Hoegh lng is involved in several ongoing processes for alternative employment for fsru number 9, which was originally intended for the GEI project.‍Remains optimistic that firm fsru employment will be in place before delivery end 2018​.  Full Article

Hoegh LNG Holdings: Main owner Leif Höegh & co. Ltd. buys 250,000
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - Hoegh Lng Holdings Ltd :‍Leif Höegh & co. Ltd. ("LHC"), a primary insider of Höegh Lng, purchased 250,000 common shares in company on 21 November 2017 for a price of nok 63.375 per share.Following the above transaction, Leif Höegh & Co. Ltd., which is indirectly controlled by Leif O. Høegh and by family trusts under which Morten W. Høegh is a primary beneficiary, holds a total of 32,479,953 shares, representing 42.0 pct of the shares in the Company and 311,591 common units in Höegh LNG Partners LP ("HMLP")​.  Full Article

Baupost sold 200,000 Hoegh LNG shares on behalf of clients
Tuesday, 21 Nov 2017 

Nov 21 (Reuters) - Hoegh LNG Holdings Ltd :‍baupost group sold 200,000 shares in hoegh lng holdings ltd on behalf of several clients​.‍baupost acts as discretionary investment adviser to its clients, and is authorized to exercise voting rights attached to shares under management on a discretionary basis.Following the transaction, the aggregate shareholding in HLNG over which Baupost is authorized to exercise voting rights on a discretionary basis is below 5 pct​.  Full Article

Lithuania LNG port aims to be Baltic hub, double flows

VILNIUS, Jan 21 Lithuania's Klaipeda liquefied natural gas (LNG) import terminal will more than double its LNG volumes once gas pipelines to Poland and Finland open after 2021, turning the Baltic port into a regional supply hub, its operator said in an interview.