Oslo-listed Hoegh booked a loss of $16.27m for the quarter, worse than the $2.84m deficit seen at the same stage in 2013.

RS Platou Markets says the owner’s core operating loss of $7m compared with the $11m gain consensus had projected.

Despite the weak earnings, RS Platou Markets notes the initial public offering of Hoegh LNG Partners has released $700m.

“The company has already ordered another speculative FSRU, assuming 70% target leverage the company still have $0.6bn