Norway's Awilco LNG is putting its faith in an improving spot market after its third quarter loss increased.

The company said the net deficit was $6.79m, compared to $4.21m a year ago.

Freight income from its two LNG carriers was $5.7m, down from $8.4m in 2016.

The company said that after a very weak first half, the market has firmed both in terms of utilisation and rates.