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Cool Co Ltd - CLCO STOCK NEWS

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.

Overview of Cool Co Ltd (CLCO)

Cool Co Ltd (CLCO) is a prominent player in the liquefied natural gas (LNG) shipping industry, focusing on the acquisition, ownership, operation, and chartering of LNG carriers (LNGCs). The company also provides fleet management services for third-party vessels, showcasing its expertise in maritime operations. By facilitating the global transportation of LNG, Cool Co Ltd plays a critical role in the energy supply chain, connecting producers with markets worldwide.

Core Business Operations

At the heart of Cool Co Ltd's operations is its fleet of LNG carriers, which are purpose-built vessels designed to transport liquefied natural gas at cryogenic temperatures. The company generates revenue primarily through long-term charter agreements with energy producers, traders, and utilities, ensuring stable cash flows. Additionally, Cool Co Ltd operates in the spot market, offering flexible shipping solutions to meet short-term demand. Its fleet management services further diversify its revenue streams, as the company leverages its operational expertise to manage third-party vessels under contractual agreements.

Market Position and Industry Context

Cool Co Ltd operates within a dynamic and growing industry, driven by the global transition toward cleaner energy sources. LNG is increasingly recognized as a key transitional fuel, offering a lower-carbon alternative to coal and oil. This trend has led to rising demand for LNG shipping capacity, particularly in regions such as Asia and Europe, where natural gas plays a central role in energy strategies. Cool Co Ltd's strategic positioning within this market enables it to capitalize on these growth opportunities while navigating challenges such as fluctuating energy prices and geopolitical risks.

Competitive Landscape

In the competitive LNG shipping sector, Cool Co Ltd distinguishes itself through its commitment to operational excellence, modern fleet capabilities, and flexible service offerings. Key competitors include other specialized LNG shipping companies and broader maritime transport firms that also operate LNG carriers. Cool Co Ltd's ability to secure long-term charters and its expertise in fleet management provide it with a competitive edge, ensuring resilience in a volatile market environment.

Strategic Importance

The company's role extends beyond transportation, as it supports the broader energy ecosystem by enabling the efficient and reliable delivery of LNG. This strategic importance is amplified by the increasing integration of LNG into global energy portfolios, driven by environmental considerations and energy security concerns. Cool Co Ltd's operations contribute to the stability and growth of the LNG supply chain, reinforcing its significance within the industry.

Commitment to Excellence

Cool Co Ltd demonstrates a strong commitment to safety, sustainability, and innovation. By adhering to stringent environmental and operational standards, the company ensures the safe and efficient transportation of LNG while minimizing its environmental footprint. Its focus on continuous improvement and technological advancement positions it as a trusted partner in the LNG shipping industry.

Conclusion

In summary, Cool Co Ltd (CLCO) is a key enabler of the global LNG trade, offering a comprehensive suite of services that span ownership, operation, and management of LNG carriers. Its strategic positioning, operational expertise, and commitment to excellence make it a significant player in the LNG shipping industry, contributing to the evolving energy landscape.

News
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Cool Company Ltd. (NYSE: CLCO / CLCO.OL) has entered into a 12-month time charter agreement for one of its TFDE vessels with Santos Shipping Singapore Pte Ltd. The vessel is expected to undergo an upgrade to LNGe specifications during the charter period, including reliquefaction capability, air lubrication systems, and other optimizations to enhance efficiency and reduce emissions. The charter includes an innovative mechanism to reward both the charterer and CoolCo, taking the fleet utilization to 100% until the end of the second quarter. The total operating revenue guidance for 1Q24 is $88-89 million and $84-85 million for 2Q24, subject to no technical off-hire. The anticipated lower revenue range in 2Q24 is primarily due to off-hire during a scheduled drydock of another vessel. The CEO, Richard Tyrrell, expressed delight with the innovative agreement, highlighting the alignment of incentives between the owner and charterer to enhance efficiency and minimize emissions.
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Cool Company Ltd. (NYSE: CLCO / CLCO.OL) shares will be traded ex dividend of $0.41 per share for Q3 2023 as of December 6, 2023. Contact details for inquiries: c/o Cool Company Ltd - +44 207 659 1111 / ir@coolcoltd.com
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Cool Company Ltd. (CoolCo) (Ticker: CCL) announces the first tranche vesting of restricted stock units (RSUs) awarded in 2022 for employees, management, and board members, with a total of 14,381 shares to be issued on or after December 7, 2023. Additionally, the board has authorized options and RSUs for 2023, granting a total of 74,246 Options and 102,107 RSUs to employees, management, and board members, equivalent to approximately 0.14% and 0.19% of the company's share capital, respectively.
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Cool Company Ltd. (NYSE: CLCO / CLCO.OL) held its 2023 Annual General Meeting on November 29, 2023, in Bermuda. The meeting approved amended Bye-laws, set the maximum number of Directors to nine, re-elected and elected Directors, appointed auditors, and approved the Board of Directors' remuneration.
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Hamilton, Bermuda announces dividend payment of $0.41 per share to VPS shareholders
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Cool Company Ltd. (CoolCo) (Ticker: COOL) reported Q3 2023 total operating revenues of $92.9 million, a net income of $39.21 million, and an average Time Charter Equivalent Earnings (TCE) of $82,400 per day. The company declared a dividend of $0.41 per share for Q3 and entered into sale and leaseback financing arrangements for two state-of-the-art MEGA LNG carriers. Newbuild pricing remained elevated, providing significant support to long-term charter rates. The company is financially well-positioned with $1.5 billion of contracted revenue backlog and plans to maintain a long-term perspective in vessel chartering decisions to provide attractive returns and dividends for shareholders.
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Cool Company Ltd. (CLCO) will host a Third Quarter 2023 Earnings call and webcast presentation on November 28, 2023, at 8:00 A.M. New York / 2:00 P.M. Oslo / 1:00 P.M. London. The presentation will be available to download from the Investors section of the Company’s website. Sell-side analysts can raise questions during the Q&A session that will immediately follow the presentation. The event details for joining the webcast and teleconference are provided, and a replay of the event audio will be available for one year.
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Cool Company Ltd. and Huaxia Financial Leasing Co. have completed sale and leaseback financing arrangements for two newbuild vessels.
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COOL COMPANY Ltd. has scheduled its 2023 Annual General Meeting for November 29, 2023.
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Cool Company Ltd. announces 2023 Annual General Meeting on November 29, 2023 in Bermuda.
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FAQ

What is the current stock price of Cool Co (CLCO)?

The current stock price of Cool Co (CLCO) is $5.64 as of April 18, 2025.

What is the market cap of Cool Co (CLCO)?

The market cap of Cool Co (CLCO) is approximately 283.7M.

What does Cool Co Ltd (CLCO) do?

Cool Co Ltd specializes in the acquisition, ownership, operation, and chartering of LNG carriers, as well as providing fleet management services for third-party vessels.

How does Cool Co Ltd generate revenue?

The company generates revenue through long-term charter agreements, spot market operations, and fleet management services for third-party vessels.

What is Cool Co Ltd's role in the LNG industry?

Cool Co Ltd plays a critical role in the LNG supply chain by ensuring the efficient and reliable transportation of liquefied natural gas globally.

What challenges does Cool Co Ltd face in its market?

The company faces challenges such as fluctuating energy prices, geopolitical risks, and competition from other LNG shipping firms.

How does Cool Co Ltd differentiate itself from competitors?

Cool Co Ltd differentiates itself through operational excellence, modern fleet capabilities, flexible service offerings, and expertise in fleet management.

What is the significance of LNG in the global energy market?

LNG is a key transitional fuel, offering a cleaner alternative to coal and oil, and plays a central role in global energy strategies aimed at reducing carbon emissions.

What are LNG carriers, and why are they important?

LNG carriers are specialized vessels designed to transport liquefied natural gas at cryogenic temperatures, enabling the global trade and supply of LNG.

What regions drive demand for LNG shipping?

Regions such as Asia and Europe drive demand for LNG shipping due to their reliance on natural gas as a cleaner energy source and their need for energy security.
Cool Co Ltd

NYSE:CLCO

CLCO Rankings

CLCO Stock Data

283.66M
22.47M
58.39%
7.68%
0.88%
Oil & Gas Midstream
Energy
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United Kingdom
London