CoolCo Enters 14-Year Charter Party With GAIL (India) Limited For Newbuild LNG Carrier; Revenue Backlog Increased To $1.2B; Total Revenue Backlog Including Extensions To Almost $1.9B As Of March 31, 2024
Portfolio Pulse from Benzinga Newsdesk
CoolCo (NYSE: CLCO) has entered into a 14-year charter agreement with GAIL (India) Limited for a newbuild LNG carrier, increasing its total revenue backlog to almost $1.9 billion as of March 31, 2024.
May 16, 2024 | 12:42 pm
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CoolCo has secured a 14-year charter agreement with GAIL (India) Limited for a newbuild LNG carrier, significantly increasing its revenue backlog to almost $1.9 billion as of March 31, 2024.
The long-term charter agreement with GAIL (India) Limited secures a steady revenue stream for CoolCo, significantly increasing its revenue backlog. This is likely to positively impact investor sentiment and the stock price in the short term.
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