Accueil Ernstrade Bourse Actualite Stock

plus500
 
EXCHANGE: New York Stock Exchange

Höegh LNG Partners (HMLP:US) is a growth-oriented limited partnership formed by Höegh LNG Holdings Ltd. (Oslo Børs symbol: HLNG), a leading floating LNG service provider, to own, operate and acquire floating storage and re​gasification units (FSRUs​), LNG carriers and other LNG infrastructure assets under long-term charters, which we define as charters of five or more years.

http://www.hoeghlngpartners.com/

Höegh LNG Partners LP Reports Financial Results for the Quarter Ended September 30, 2017

16.11.2017
HAMILTON, Bermuda, Nov. 16, 2017 /PRNewswire/ -- Höegh LNG Partners LP (NYSE: HMLP) (the "Partnership") today reported its financial results for the quarter ended September 30, 2017.

Highlights

Reported total time charter revenues of $35.9 million for the third quarter of 2017, compared to $23.3 million of time charter revenues for the third quarter of 2016
Generated operating income of $15.3 million and net income of $5.4 million for the third quarter of 2017 compared to operating income of $20.3 million and net income of $13.4 million for the third quarter of 2016; operating income and net income were impacted by unrealized gains on derivative instruments and an accrual for the probable liability for exceeding historical minimum performance standards for boil-off under the time charters on the Partnership's share of equity in earnings of joint ventures in the third quarter of 2017 compared with unrealized gains on derivative instruments for the third quarter of 2016
Generated Segment EBITDA1 of $19.4 million for the third quarter of 2017 compared to $24.9 million for the third quarter of 2016
On October 5, 2017, raised proceeds, net of underwriting discounts, of $111.4 million from the issuance of 4,600,000 Series A cumulative redeemable preferred units
On November 14, 2017, paid a $0.43 per unit distribution on common and subordinated units with respect to the third quarter of 2017, equivalent to $1.72 per unit on an annual basis
On November 16, 2017, announced an agreement to acquire the remaining 49% ownership interest in the entities that own and operate the Höegh Grace
Richard Tyrrell, Chief Executive Officer and Chief Financial Officer stated: "In the third quarter of 2017, the Partnership priced $115 million of perpetual preferred units and the Partnership is delighted to announce its plan to purchase the remaining 49% interest in the entities that own the Höegh Grace with a portion of the proceeds from the preferred unit offering which closed in October.



Copyright  2017  Ernstrade.com