Norway's Awilco LNG has admitted it will take "some time" to get its hands on compensation cash following a collision involving one of its two vessels earlier this year.

Its 156,600-cbm LNG carrier WilForce (built 2013) suffered extensive off-hire and lost a charter after it was involved in the incident shortly after leaving a Singapore shipyard in May.

TradeWinds understands the ship was in collision with a newbuilding, Nisshin Shipping's 39,300-dwt open-hatch bulker Western Moscow.