Golar LNG suffered Q3 net losses of $24.2m compared with a $7.7m profit in the corresponding period in 2014.
Losses narrowed from $43.4m in Q2, however, partly due to spot fleet utilization increasing to 43% versus 33% in the previous quarter, with average spot charter rates reaching $35,000 per day.
Looking ahead, the company anticipates improved results thanks in part to introduction of the LNG â€˜Cool Poolâ€™ which started operation at the beginning of October.
â€œThe Pool has been very well received by the market,â€ said Golar LNG in a statement. â€œOf the 17 spot voyage charters concluded globally during October, 10 were with the Cool Pool.
â€œImproved scheduling ability including the ability to fix forward and reduced positioning costs and cost efficiencies as a result of the common marketing of vessels are expected to result in continuing improvements in vessel utilisation and further reductions to voyage costs in Q4,â€ the company added.