EXMAR swallows $7.8 million loss

In the same period last year, EXMAR still boasted a profit of $3.4 million, but this was largely due to the sale of the gas tanker Excelsior. The operating profit (ebit) of the lng business is -$7.4 million (compared to $23.8 million for the first half of 2018 including $30.9 million profit on the sale of the Excelsior). There are signs of improvement, though: the commissioning and delivery test of the TANGO FLNG liquefaction unit by its customer YPF was successfully completed in June 2019, marking the start of the unit’s monthly rental income, in anticipation of effective start-up after the Argentine winter period from September.