Norway’s Awilco LNG has posted a much-reduced loss in the final three months of 2016 as rates improved.

The net deficit to 31 December was $2.49m, down from $12.58m a year ago.

Last year it was hit by a vessel impairment charge of $8.35m, as well as higher depreciation.

Revenue edged down year-on-year to $9.09m, compared to $9.6m in 2015.

But this figure was up from the third quarter, as both rates and the utilisation of one of its two spot vessels improved.

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