The loss overshadowed a sizable improvement in revenue, which more than doubled year-on-year to $32.5m.

Golar LNG said the average rate for steam LNG carriers in the short-term market during the quarter was around $50,000-$55,000 per day and $65,000-$70,000 per day for TFDE vessels.

“Although chartering activity was consistent with that in the third quarter, the fourth quarter market became acutely sensitive to timing and location,” it said.

“In