ALNG.OL ALNG (Awilco LNG)

Gas · LNGC · 89 documents

ALNG (Awilco LNG)'s 2-vessel gas fleet should earn about $32,600 a day in 2026Q3.

Rates in, dividend out 2026Q3

Model Your scenario

Set a rate per vessel class and the statement below re-prices: our model’s figures in one column, yours beside them. These are your numbers, not our forecast and not company guidance; nothing you set is saved.

Latest rates

Class	Company earned	Booked 2026Q3	Market now	8 weeks
Lngc · 2	$32,6002026Q2 · fleet avg	—none printed	—no open $/day series

Company earned: the issuer’s own reported TCE (linked). Booked: cover the issuer printed for 2026Q3. Market now: the median across the broker route prints we hold for the class — a derived blend, not a vendor index; the trend is rebased to 100 eight weeks ago.

Your rates every day is at your rate

Lngc 184 open days

$/d

2026Q3 P&L and cash

Model

Your scenario

Vessel-days, days modelled

Ships on the fleet list × the quarter's calendar days for lngc: no off-hire or drydock days are deducted there.

184

By class

Class	Days	Model $/day	Yours $/day
Lngc	184	32,600	32,600

Fleet TCE, $/day assumed

32,600

Revenue (TCE basis), $m assumed

Vessel-days × fleet TCE.

6.0

Vessel opex, $m assumed

2026Q2: $3.8m over 184 vessel-days, held per day.

(3.8)

G&A, $m assumed

2026Q2: $1.5m over 184 vessel-days, held per day.

(1.5)

EBITDA, $m assumed

0.7

Hire for chartered-in ships, $m

Not on file for any quarter (not extracted, or not disclosed).

—

Interest expense, $m assumed

2026Q2: $2.8m over 184 vessel-days, held per day.

(2.8)

Scheduled debt amortisation, $m stated

2026Q2: $0.0m over 184 vessel-days, held per day (the issuer’s scheduled principal).

0.0

Drydock cost, $m

No separate drydock cash line on file.

—

Cash break-even, $/day assumed

Σ cash costs above ÷ vessel-days.

44,103

Cushion vs fleet TCE, $/day

(11,503)

Free cash flow to equity, $m assumed

Revenue − cash costs: the cash available for distribution.

(2.1)

Maintenance capex, $m

Not disclosed as a cash line; not in the model’s cash.

—

Dividend policy

No stated payout policy on file.

Output	Model	Your scenario	Δ
Estimated DPS, $/share	—
Forward yield, run-rate %	—

Yield annualises the quarter’s DPS × 4 (a run-rate, not a forecast of the year) against the $0.36 close on 2026-10-19.

No dividend is modelled for 2026Q3: the company states no payout policy and no declared distributions are on file.

Showing the model’s own figures. Setting your own rates needs JavaScript.

Why no forward dividend next step: payout behaviour

This page prices a fleet, takes off its cash costs and debt service, and measures what is left against the payout. The step it cannot take today: the company states no payout policy and no declared distributions are on file. A stated payout policy — or enough declared distributions to fit one — unblocks it.

What is on file:

2-vessel fleet —
realized fleet TCE of $32,600/day in 2026Q2

Every company's position on the modelling chain, and what each page can and cannot answer yet: coverage.

Market context — rates, the dividend, and the price

Fleet rate

Realized fleet TCEModel

forecast →

$0k

$30k

$60k

2025Q1

2025Q2

2025Q3

2025Q4

2026Q1

2026Q2

2026Q3

2026Q4

Reported fleet TCE. This company declares no dividend, so there is nothing to pay out against it.

How we got the number

How to read this page

Every figure here is built the same way: the fleet's vessel-days are priced at the rate its classes earned, costs and debt service come off, and what is left is measured against the dividend the company actually declared. Nothing is estimated where it can be sourced, and a number that cannot be sourced is withheld rather than filled in. The full method, and the rates behind it →

Where ALNG.OL departs from that

No market index covers this fleet's vessel types, so each is priced at the company's own last realized rate per calendar vessel-day (revenue divided by vessel-days), held flat — the revenue track record shows how that has done.

What drives it — fleet TCE, 2026Q3

Expected fleet TCE

$32,600/d

ASSUMED

Financials & fleet

Latest quarter 2026Q2 2 qtrs old

Fleet

Realized TCE

$32,600/d 2026Q2

Declared DPS

—

TTM DPS

—

Coverage

—

Revenue

$7.3M

Opex

$3.8M

Net income

−$6.4M

2× lngc current

Revenue model track record model vs realized

Each quarter priced at the previous quarter's realized rate, held flat — the figure the model holds once that quarter is reported — against the rate the fleet actually realized. Average miss 20.6% over 5 backtested quarters.

Quarter	Record	Model $/day	Realized $/day	Model rev $M	Realized rev $M	Miss
2025Q2	backtest	46,000	42,600	8.4	7.8	+8.0%
2025Q3	backtest	42,600	57,800	7.8	10.6	-26.3%
2025Q4	backtest	57,800	37,600	10.6	6.9	+53.7%
2026Q1	backtest	37,600	34,200	6.8	6.2	+9.9%
2026Q2	backtest	34,200	32,600	6.2	5.9	+4.9%

Backtest rows apply today's rule to past quarters using only the prior quarters' reported rates; live rows are the forecast as frozen on the date shown. Revenue is rate × vessel-days, so a miss here is a rate miss.

Fleet model — 2026Q3

Fleet model estimate — not issuer guidance.

Class	Ships	TC	Spot	% Fixed	Guided $/d	Spot $/d	Blended $/d	QTD rev $M	Modeled Q rev $M
Lngc	2	—	—	—	—	—	32,600	—	6.0
Total	2						32,600	—	6.0

Guided rates are issuer-booked cover for 2026Q3 blended with the company's own realized rates for the open days.

Revenue if rates hold

$6.0M

Bear uses booked coverage only; Base prices open vessels at the company's own last realized fleet rate — no market index covers this fleet, so there is no peak-index Bull case.

Expected DPS suppressed: modeled fleet earnings do not clear the cash break-even, so there is no distributable cash.

Expected DPS suppressed: no verbatim payout policy located in the corpus.

Model gaps & assumptions

lngc: no index and no guidance — priced at the issuer's own last realized fleet rate $32,600/day (2026Q2, issuer's printed figure), held flat (owner ruling 2026-09-26) · one-model DPS not used: fewer than 3 quarters of rate and dividend history, no break-even, or it does not explain the company's own dividends (R² < 0.5) · DPS chain unscoreable — missing: payout ratio (no quantified policy, no payout multiple in the quarter files); share count

Realized fleet TCE

Benchmark comparison will appear once issuer-printed benchmark data is available.

Guidance & sources

Sources — press, filings & documents

Press & filings by quarter

Quarter	Report	Presentation	Dividend	Other
2026Q3	ALNG ASA - Second quarter 2026 results, ALNG ASA – Second quarter 2026 results	—	—	ALNG: Financial calendar, Financial calendar, ALNG ASA - EXTRAORDINARY GENERAL MEETING HELD, ALNG ASA – EXTRAORDINARY GENERAL MEETING HELD, ALNG ASA - NOTICE OF EXTRAORDINARY GENERAL MEE…, ALNG ASA – NOTICE OF EXTRAORDINARY GENERAL MEE…
2026Q2	ALNG ASA - Appointment of Interim CEO, ALNG ASA – Appointment of Interim CEO, AWILCO LNG ASA - Final results of subsequent o…, AWILCO LNG ASA – Final results of subsequent o…, Awilco LNG ASA - First quarter 2026 results, Awilco LNG ASA – First quarter 2026 results, Awilco LNG ASA - Annual report 2025, Awilco LNG ASA – Annual report 2025	—	—	ALNG: New name ALNG ASA registered, New name ALNG ASA registered, ALNG ASA - Mandatory notification of trade, ALNG ASA – Mandatory notification of trade, AWILCO LNG ASA - ANNUAL GENERAL MEETING HELD A…, AWILCO LNG ASA – ANNUAL GENERAL MEETING HELD A…, AWILCO LNG ASA - New share capital registered, AWILCO LNG ASA – New share capital registered, Awilco LNG ASA - Purchase of shares by nominat…, Awilco LNG ASA – Purchase of shares by nominat…, Awilco LNG ASA - Appointment of Chief Commerci…, AWILCO LNG ASA - LAST DAY OF SUBSCRIPTION PERI…, Awilco LNG ASA – Appointment of Chief Commerci…, AWILCO LNG ASA – LAST DAY OF SUBSCRIPTION PERI…, AWILCO LNG ASA - Annual General Meeting and pr…, AWILCO LNG ASA – Annual General Meeting and pr…, ALNG: Financial calendar, Financial calendar, AWILCO LNG ASA - COMMENCEMENT OF SUBSCRIPTION …, AWILCO LNG ASA – COMMENCEMENT OF SUBSCRIPTION …, AWILCO LNG ASA - APPROVAL AND PUBLICATION OF P…, AWILCO LNG ASA – APPROVAL AND PUBLICATION OF P…, AWILCO LNG ASA - BOARD CHAIR NOMINATION AND CH…, AWILCO LNG ASA – BOARD CHAIR NOMINATION AND CH…, ALNG: Financial calendar, Financial calendar, ALNG: Disclosure in AWILCO LNG, Disclosure in AWILCO LNG, AWILCO LNG ASA - NEW SHARE CAPITAL RELATED TO …, AWILCO LNG ASA – NEW SHARE CAPITAL RELATED TO …, ALNG: NOTIFICATION OF MAJOR HOLDINGS, NOTIFICATION OF MAJOR HOLDINGS, ALNG: NOTIFICATION OF MAJOR HOLDINGS, NOTIFICATION OF MAJOR HOLDINGS, ALNG: NOTIFICATION OF MAJOR HOLDINGS, NOTIFICATION OF MAJOR HOLDINGS
2026Q1	Awilco LNG ASA - Fourth quarter 2025 results, Awilco LNG ASA – Fourth quarter 2025 results	—	—	Awilco LNG ASA: Major Shareholding Notificatio…, AWILCO LNG ASA - Mandatory Notification of Tra…, AWILCO LNG ASA - Extraordinary General Meeting…, Awilco LNG ASA: Major Shareholding Notificatio…, AWILCO LNG ASA – Mandatory Notification of Tra…, AWILCO LNG ASA – Extraordinary General Meeting…, Awilco LNG ASA - Disclosure of voting proxy fo…, Awilco LNG ASA – Disclosure of voting proxy fo…, ALNG: The Goldman Sachs Group, Inc. Disclosure…, The Goldman Sachs Group, Inc. Disclosure in AW…, ALNG: NOTIFICATION OF MAJOR HOLDINGS, NOTIFICATION OF MAJOR HOLDINGS, ALNG: Disclosure in AWILCO LNG, Disclosure in AWILCO LNG, AWILCO LNG ASA - NOTICE OF EXTRAORDINARY GENER…, AWILCO LNG ASA – NOTICE OF EXTRAORDINARY GENER…, ALNG: Disclosure in AWILCO LNG, AWILCO LNG ASA - EX DATE, Disclosure in AWILCO LNG, AWILCO LNG ASA – EX DATE, AWILCO LNG ASA - KEY INFORMATION REGARDING POT…, AWILCO LNG ASA - PRIVATE PLACEMENT SECURING NE…, AWILCO LNG ASA – KEY INFORMATION REGARDING POT…, AWILCO LNG ASA – PRIVATE PLACEMENT SECURING NE…
2025Q4	Awilco LNG ASA - Third quarter 2025 results, Awilco LNG ASA – Third quarter 2025 results	—	—	ALNG: Financial calendar, Financial calendar
2025Q3	Awilco LNG ASA - Second Quarter 2025 results	—	—	—
2025Q2	Awilco LNG ASA - First quarter 2025 results, Awilco LNG ASA - Annual report 2024	—	—	Awilco LNG ASA - Minutes from AGM, Awilco LNG ASA - Annual General Meeting
2025Q1	Awilco LNG ASA - Fourth quarter 2024 results	—	—	—
2024Q4	—	—	—	ALNG: Financial calendar