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Golar LNG in talks with Korea Line.
(From Lloyds List)
GOLAR LNG has entered 'constructive' talks with Korea Line, the South Korean liquefied natural gas carrier operator in which it has a stake of more than 20%, writes tony Gray.
This was disclosed at the same time as the John Fredriksen company reported a 15% fall in first-quarter net income to $8.25m from $9.71m in the like period of 2003.
The latest result was affected by a net loss on the movement of the fair value of interest rate swaps, and idle time incurred by the newbuilding Methane Princess before commencing a long-term charter with BG Group.
Golar said its 21% investment in Korea Line was 'an opportunity to develop a mutually beneficial relationship' with a leading South Korean LNG shipping provider.
'A constructive dialogue with Korea Line has already been established.'
Significantly, Golar now expects to start equity accounting for its stake in Korea ...
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