Golar

New maritime energy-transport companies often launch IPOs as a way to finance the purchase of more ships, but in Golar LNG Partners' case, all its proceeds are going back into its parent's coffers, so the deal won't help it raise capital for expansion.

Golar LNG Partners, CVR Gain in Debuts Lynn Cowan 2011

Global demand for liquefied natural gas has been on the rise, and Golar LNG Partners' net revenue and bottom line increased throughout the economic downturn.

Two Limited Partnerships Prepare Debuts Lynn Cowan 2011

Maritime gas-storage and transport company Golar LNG Partners LP made gains on its first day as a public company Friday.

Golar LNG Partners, CVR Gain in Debuts Lynn Cowan 2011

With an annual dividend of $1.54 a unit, Golar LNG Partners will offer a payout of 6.8% at the IPO price.

Golar LNG Partners, CVR Gain in Debuts Lynn Cowan 2011

Headquartered in Bermuda, Golar LNG Partners operates liquefied-natural-gas carriers and floating storage and regasification vessels.

Golar LNG Partners, CVR Gain in Debuts Lynn Cowan 2011

In fact, Golar LNG Ltd. is the only company in the world so far that has retrofitted liquefied-natural-gas carriers into floating storage and regasification vessels, so it should come as no surprise that all four of Golar LNG Partners' chartered ships came from its parent.

Golar LNG Partners, CVR Gain in Debuts Lynn Cowan 2011

It was formed by Golar LNG Ltd., which owns and operates the same type of gas vessels.

Golar LNG Partners, CVR Gain in Debuts Lynn Cowan 2011

This morning, both Bank of America and Citigroup initiated coverage on shares of Golar LNG Partners.

BofA Kisses Golar LNG, Citi Gives It A Wet One 2011

It also has the right to purchase two more, one from the parent and one from a related company, Golar LNG Energy Ltd.

Golar LNG Partners, CVR Gain in Debuts Lynn Cowan 2011

On the plus side, global demand for liquefied natural gas has been on the rise, and Golar LNG Partners' net revenue and bottom line increased throughout the economic downturn.

Golar LNG Partners, CVR Gain in Debuts Lynn Cowan 2011