Welcome to our dedicated page for Cool Co news (Ticker: CLCO), a resource for investors and traders seeking the latest updates and insights on Cool Co stock.
Cool Co Ltd (CLCO) delivers essential LNG shipping solutions through its global fleet operations and strategic partnerships. This news hub provides investors and industry stakeholders with timely updates on the company's maritime transport activities, market positioning, and role in the clean energy transition.
Access official press releases covering charter agreements, fleet management developments, and operational milestones. Our curated collection includes earnings reports, vessel acquisition announcements, and analyses of LNG market trends impacting CLCO's operations. All content is verified through primary sources to ensure reliability.
Key updates feature long-term contract signings with energy producers, technological advancements in LNG carrier operations, and regulatory developments affecting maritime logistics. Bookmark this page for streamlined access to CLCO's latest strategic moves within the evolving energy transportation sector.
Cool Company (NYSE: CLCO) has announced the filing of its Form 20-F annual report for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission (SEC). The report is accessible through multiple channels, including the company's website at www.coolcoltd.com. Shareholders can request a complimentary hard copy of the report.
Cool Company (CLCO) has announced the granting of Restricted Stock Units (RSUs) as part of its Long-Term Incentive Program (LTIP). The Board has authorized 205,871 RSUs to employees and management, representing approximately 0.38% of the company's share capital.
The RSUs will vest equally over four installments between November 2025 and November 2028. Key allocations include:
- CEO Richard Tyrrell: 14,404 RSUs (total holdings: 8,545 shares, 22,745 RSUs, 371,227 Options)
- CFO Johannes Boots: 7,789 RSUs (total holdings: 1,764 shares, 12,205 RSUs, 123,742 Options)
Cool Company (CLCO) reported Q4 2024 financial results with total operating revenues of $84.6 million, up from $82.4 million in Q3 2024. Net income increased to $29.41 million from $8.11 million in Q3, primarily due to mark-to-market gains in interest rate swaps.
Key Q4 metrics include average Time Charter Equivalent Earnings of $73,900 per day and Adjusted EBITDA of $55.3 million. The company took delivery of newbuild vessel Kool Tiger and refinanced its syndicated bank facility into a $570 million reducing revolving credit facility, extending maturity to 2029.
No dividend was declared due to insufficient market rates. The company maintains strong liquidity with $288 million available and a firm backlog exceeding $1 billion. Current market challenges include low spot rates, reaching historic lows of $2,750 per day by quarter-end, due to newbuild deliveries and delays in new LNG supply.
Cool Company (NYSE: CLCO) has scheduled its Fourth Quarter and Full Year 2024 Earnings call and webcast presentation for Thursday, February 27, 2025, at 8:00 A.M. New York / 2:00 P.M. Oslo / 1:00 P.M. London.
The presentation materials will be available for download from the company's website. Participants are encouraged to join via the listen-only live webcast link. Sell-side analysts can participate in the Q&A session through teleconference dial-in options, with a limit of two questions per participant.
The company recommends connecting 10 minutes before the scheduled start time. A replay of the event audio will be available on-demand for one year on the company's website.
Cool Company (NYSE: CLCO / CLCO.OL) has announced an increase in its total issued shares following the vesting of previously granted RSUs under the company's Long-Term Incentive Plan (LTIP). The share count increased by 23,872 shares, bringing the total number of issued shares to 53,726,718. Each share maintains a nominal value of USD 1.00. The complete details of the LTIP can be found in the company's November 25, 2022 Press Release or in their 2023 Annual Report on Form 20-F filed with the SEC.
Cool Company (CoolCo) announced the vesting of restricted stock units (RSUs) under its Long-Term Incentive Program (LTIP). Primary insiders Richard Tyrrell received 2,232 shares and Johannes Boots received 1,175 shares on November 29, 2024. Following the vesting, Tyrrell holds 8,545 shares, 8,341 RSUs, and 371,227 Options, while Boots holds 1,764 shares, 4,416 RSUs, and 123,742 Options. The company will issue shares underlying the vested RSUs around December 9, 2024, increasing total issued shares to 53,726,718.
Cool Company (NYSE: CLCO) has announced its third quarter 2024 dividend of $0.15 per share. The shares will trade ex-dividend on two different dates: November 29, 2024 on the Oslo Stock Exchange (OSE) and December 2, 2024 on the New York Stock Exchange (NYSE).
Cool Company (NYSE: CLCO / CLCO.OL) held its 2024 Annual General Meeting on November 21, 2024, in London. The meeting approved several key resolutions, including: setting a maximum of nine Directors, allowing the Board to fill casual vacancies, re-electing seven Directors including Cyril Ducau and Richard Tyrrell, re-appointing Ernst & Young Global as auditors, and approving Board remuneration not exceeding US$625,000 for 2024, excluding equity-based compensation. The meeting also presented the audited consolidated financial statements for 2023.
Cool Company (NYSE: CLCO) has announced a cash dividend of $0.15 per share, approved on November 20, 2024. Due to the implementation of CSDR in Norway and different settlement cycles between NYSE (T+1) and Oslo Stock Exchange (T+2), there will be varying payment dates. For NYSE-listed shares, the payment date is around December 9, 2024, while shares registered in VPS will receive payments around December 13, 2024. The ex-date is December 2, 2024 for NYSE and November 29, 2024 for OSE. During interim days, share transfers between NYSE and OSE may be restricted.
Cool Company (NYSE:CLCO) reported Q3 2024 financial results with total operating revenues of $82.4 million, slightly down from $83.4 million in Q2. Net income decreased to $8.11 million from $26.51 million, primarily due to losses in mark-to-market interest rate swaps. The company achieved average Time Charter Equivalent Earnings of $81,600 per day, up from $78,400 in Q2. Notable events include the delivery of newbuild vessel Kool Tiger, completion of scheduled drydocks, and approval for refinancing of $570 million bank facility. The company declared a $0.15 per share quarterly dividend and approved a $40 million share repurchase program.
