Energos-Grand Ship Details and Seafarer Feedback

Golar LNG Partners LP has successfully negotiated a time charter agreement for its steam LNG carrier, the Golar Grand, with a prominent international oil and gas company. This contract spans a potential maximum of nine years, demonstrating Golar LNG's strong positioning in the global LNG market. Currently, the Golar Grand is under a charter with Golar LNG Limited, which means it will be sub-chartered back at the same rate as the new agreement until the existing charter concludes in October 2017. The Golar Grand is set to be delivered under the new charter in the second quarter of 2017, starting with an initial two-year term, accompanied by options for extensions that could lead to a total charter duration of nine years. Notably, the operating income for the Partnership from the Golar Grand will remain stable until the end of the existing charter in 2017. Should the initial extension options of up to five years be exercised, the new charter is anticipated to yield an estimated average of $10 million in operating income before depreciation each year over the entire five-year duration.

Norwegian shipping company Golar LNG has successfully entered into a three-year charter agreement for its Golar Grand tanker, with the arrangement set to commence in March 2012. This exciting development, disclosed on Wednesday, highlights the ongoing surge in global demand for shipping services. As a result of this announcement, Golar LNG's shares saw a significant increase, rallying more than 5% in Oslo's trading market. The charter deal is expected to contribute approximately $39 million to the company's earnings before interest, tax, depreciation, and amortization (EBITDA) over the contract's duration. According to Arctic Securities, daily rental rates for the Golar Grand are projected to hover around $125,000. However, shipping industry insiders report rates between $110,000 and $120,000 per day. More details can be found at http://af.reuters.com/article/energyOilNews/idAFL5E7LJ2YK20111019.