Cool Company Ltd. (CLCO) shares ended the last trading session 5.6% higher at $12.39. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.6% gain over the past four weeks. The uptick followed the long-term charter between Cool Company and GAIL (India). The charter increases Cool Company's total revenue backlog to almost $1.9 billion This company is expected to post quarterly earnings of $0.46 per share in its upcomin ...

SHanscheThe UP World LNG Shipping Index (UPI) lost 1.92 points or 1.24% last week, reaching a closing value of 152.38 points. This index monitors the stocks of companies that specialise in LNG shipping. In contrast, the S&P 500 (SPX) index, representing US stocks, gained 0.55%. The image below displays both indices. Week 19-2024: Chart of the UP World LNG Shipping Index with S&P 500 (Source: UP-Indices) (UP-Indices.com)The UPI underwent its regular rebalance, with no changes in its constituents. Howeve ...

alvarezNote: I previously covered Cool Company (NYSE:CLCO) in February 2024. I discussed the company’s strengths: its fleet with TF-DE/XDF engines (plus two new builds equipped with ME-GA engines), attractive dividend yield, reasonable valuation, and robust finances. CLCO will benefit from replacing LNG carriers powered by steam turbines and rising LNG demand globally. I gave CLCO a strong buy rating, considering its merits. In today’s note, I will review the last results for 2023 and 4Q23 reported at t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF ...

HAMILTON, Bermuda--(BUSINESS WIRE)--The shares in Cool Company Ltd. (NYSE: CLCO / CLCO.OL) will be traded ex dividend of $0.41 per share for the fourth quarter of 2023 as of today, March 8, 2024. This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. ...

Financial Data and Key Metrics Changes - Full year time and voyage charter revenues were $347 million, and total operating revenues were $379 million, with operating income for the quarter reaching $55.1 million, an improvement of 14% compared to the third quarter of 2023 [2][5] - The fourth quarter operating margin reached 57%, with vessel operating expenses coming in at $16,600 per day per vessel, which was approximately $2,000 better than the previous two quarters [3][4] - Reported net income for the fourth quarter was $22.4 million compared to $39.2 million in the third quarter, primarily due to a $23 million unrealized mark-to-market valuation swing on interest rate swaps [5][6] - Adjusted EBITDA for the fourth quarter was a record $34.2 million, excluding non-recurring gains [22] Business Line Data and Key Metrics Changes - Time and voyage charter revenues for the fourth quarter were $89.3 million, resulting in an average time charter equivalent rate of $87,300 per day across the fleet, a record level [15][39] - Total operating revenues for the fourth quarter were $97.1 million, including non-cash amortization of net intangible liabilities of $4.5 million [16] Market Data and Key Metrics Changes - The company expects many more retirements in the coming years, which will create additional demand for modern tonnage [11][13] - The shipping market is anticipated to improve as demand increases with longer shipping distances, particularly due to disruptions in the Panama Canal and Red Sea [41][85] Company Strategy and Development Direction - The company is focused on securing long-term charters for newbuilds, targeting opportunities that align with market demand [93] - The company is confident in fixing newbuild vessels before delivery, despite current market conditions [50][67] Management's Comments on Operating Environment and Future Outlook - Management noted that the warm winter has led to falling gas prices, impacting shipping rates, but they expect rates to bounce back as demand increases [60][34] - The company anticipates that lower gas prices will facilitate demand in key markets, particularly in Asia [67][44] Other Important Information - The Board approved a dividend payout of $0.41 per share, representing approximately a 64% payout of fourth quarter net income [7][26] - The company declared a cumulative $88 million in dividends for 2023, distributing slightly more than the free cash flow available to equity holders [8] Q&A Session Summary Question: Confirmation of charter rate for Husky - Management confirmed that the charter rate needs to be above $80,000 per day [73] Question: Impact of disruptions in the Panama and Suez Canal - Management indicated that charterers are becoming more aware of their cargo needs and may require additional ships due to rerouting [85] Question: Economics of upgrading vessels with ALS system - Management explained that the performance of the vessel will be benchmarked before and after upgrades, with benefits shared between the company and the charterer [90][99] Question: Newbuilds and long-term charters - Management stated that the newbuilds are targeted at the long-term market, with a focus on structured RFP processes [93] Question: Newbuild prices and returns - Management noted that newbuild prices have decreased slightly but remain elevated compared to previous years, with potential for a standoff in the market [112]

HAMILTON, Bermuda--(BUSINESS WIRE)--Note to shareholders who hold shares registered in Euronext Securities Oslo, the central securities depository in Norway (the “VPS”): Due to implementation of the Central Securities Depository Regulation (“CSDR”) in Norway, please note the information on the payment date to the shares registered in the VPS below. Dividend amount: $0.41 per share Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK. Last day including right ...

HAMILTON, Bermuda--(BUSINESS WIRE)--This release includes business and financial updates for the three ("Q4", "Q4 2023" or the "Quarter") and twelve months ("FY 2023") ended December 31, 2023 of Cool Company Ltd. ("CoolCo" or the "Company") (NYSE:CLCO / CLCO.OL). Q4 Highlights and Subsequent Events Generated total operating revenues of $97.1 million in Q4, compared to $92.9 million for the third quarter of 2023 ("Q3" or "Q3 2023"); Net income of $22.41 million in Q4, compared to $39.21 million for Q3, ...

HAMILTON, Bermuda--(BUSINESS WIRE)--Cool Company Ltd. (NYSE: CLCO / CLCO.OL, “CoolCo” or the “Company”) will host a Fourth Quarter and Full Year 2023 Earnings call and webcast presentation on Wednesday, February 28, 2024, at 8:00 A.M. New York / 2:00 P.M. Oslo / 1:00 P.M. London. The presentation will be available to download from the Presentations and Webcasts subsection of the Investors section of the Company’s website at www.coolcoltd.com. We recommend that participants join the conference call via the ...

We-GeIntroduction Cool Company (NYSE:CLCO) is another LNG pure play. The company has a small fleet of 11 vessels, plus two that are expected to be delivered in 2H2024. The company has ample liquidity and adequate capital structure, considering its strengths. Its margins reflect its relatively young fleet equipped with TFDE and X-DF propulsion plants. CLCO offers a quality fleet, healthy financials, and a double-digit dividend yield at an attractive price of 68% P/NAV. I have CLCO as part of shipping por ...