Boston, MA 03\/28\/2014 (wallstreetpr) –\u00a0Golar LNG Partners LP (NASDAQ:GMLP)<\/b> moved today to declare the completion of its acquisition which it earlier announced in December. The development is important for analysts and investors in trying to understand what lies ahead of the company, now that commodity shipping is gaining mention in the market.<\/p>\n
While the news about the completion of acquisition ought to be exciting enough, the stock is not moving in the right direction.<\/p>\n
Perhaps the news needs to be digested before investors can get to understand that it is actually one big step that GMLP has made towards boosting its revenue and earnings.<\/p>\n
The deal is done, yes, but what does it entail and how were funds raised to seal the transaction. These and more is the subject of this article.<\/p>\n
Transaction sealed<\/b><\/p>\n
Back in December 2013, during which bulk and shipping companies were losing sleep, Golar LNG Partners LP (NASDAQ:GMLP), announced that it was up to acquire\u00a0 Golar Igloo, from Golar LNG Limited. It announced that the acquisition was valued at $310 million. In order to seal the transaction, the company assumed the outstanding debts of Golar Igloo to the tune of $161.3 million. That left a balance and the company paid the balance from the cash proceeds it raised through equity offering in December 2013.<\/p>\n
The vessel (Golar Igloo) which Golar LNG Partners LP (NASDAQ:GMLP) has now acquired was built by Samsung Heavy Industries Co. and it was delivered last month.<\/p>\n
Five-year Kuwait charter<\/b><\/p>\n
The vessel has been committed to a five-year charter time with Kuwait National Petroleum Company (KNPC), having arrived off Kuwait this month. As regards the KNPC charter, the vessel supports import operations.<\/p>\n
Facts can easily be drowned here. The simply story is that Golar LNG Partners LP (NASDAQ:GMLP) is out to expand its fleet and take advantage of the opportunities which the market presents. The company hopes that long-term charter agreements are essential to its long-term and sustainable revenue earnings. Thus, in that position, the management believes that it will be possible, if not easy, to drive significant shareholder value.<\/p>\n
The company owns and operates a fleet of vessels, usually chartered to serve customers including, Brazil\u2019s oil giant Petrobras, Dubai Supply Authority, Pertamina and BG Group.<\/p>\n
With additional and perhaps new vessels, Golar LNG Partners LP (NASDAQ:GMLP) is poised to significantly shore up its balance sheet going forward.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 03\/28\/2014 (wallstreetpr) –\u00a0Golar LNG Partners LP (NASDAQ:GMLP) moved today to declare the completion of its acquisition which it earlier announced in December. The […]<\/p>\n","protected":false},"author":12,"featured_media":18002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[5686,5687],"stock_ticker":[],"class_list":["post-18299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-golar-lng-partners-lp-nasdaqgmlp","tag-nasdaqgmlp","entry"],"acf":[],"yoast_head":"\n