Business UpdateJun 25, 2026, 04:13 PM
Stabilis Solutions Terminates LNG Vessel Charter; $1.85M Fees Due
AI Summary
Stabilis Solutions, Inc.'s subsidiary, Stabilis GDS, has terminated its time charter agreement with Seaspan Energy Ltd. for the liquefied natural gas bunkering vessel Seaspan Garibaldi. The termination, effective June 24, 2026, follows the Owners' exercise of a termination option. Stabilis GDS is now obligated to pay an early termination fee of $750,000 by January 1, 2027, and approximately $1.1 million in previously accrued amounts during the third quarter of 2026.
Key Highlights
- Stabilis GDS terminated its time charter agreement for the LNG bunkering vessel Seaspan Garibaldi.
- The original charter agreement with Seaspan Energy Ltd. was dated December 12, 2025.
- A Termination Option Agreement was entered into on June 11, 2026.
- The Owners exercised the termination option on June 24, 2026, making the termination effective immediately.
- Stabilis GDS is obligated to pay an early termination fee of $750,000 by January 1, 2027.
- Additionally, approximately $1.1 million in accrued amounts under the Charter are due in Q3 2026.
Price Impact
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