CoolCo Brand Guidelines: Golar’s 2022 Carrier Spin-Off, the Kool Fleet & a 2026 EPS Buyout

A spin-off of Golar’s carrier fleet.

CoolCo, formally Cool Company Ltd., is a young company with an older shipping line behind it. It was set up at the end of 2021 to take over the LNG carriers of Golar LNG, the Bermuda-based gas shipper. On 16 December 2021 Offshore Energy reported that Golar had signed a pre-commitment agreement for the “newly-formed” Cool Company to buy its eight tri-fuel diesel-electric (TFDE) LNG carriers, together with the commercial and technical organisation that ran Golar’s ships and FSRUs. The plan, the magazine said, was to raise equity and list the new company on Euronext Growth in Oslo at the start of 2022.

Two shareholders stood behind it from the start. Golar intended to keep about a third of the company, and Eastern Pacific Shipping (EPS), the privately owned Singapore shipowner, agreed to subscribe for new shares, which made it the largest shareholder and gave it the chair of the board, Offshore Energy reported. CoolCo’s own account is shorter: “In early 2022, CoolCo was spun off from Golar LNG Ltd to establish itself as an independent entity,” its website says, “solely dedicated to owning and operating LNG Carriers and managing FSRUs.”

The ship transfers ran through the first months of 2022. On 6 April 2022 CoolCo completed the last two of the eight acquisitions, under a share purchase agreement dated 26 February, Offshore Energy reported two days later. Golar then held 31.2 per cent of the shares, which were issued under Bermuda law, and EPS remained the largest holder. Cool Pool Limited, the company that marketed the carriers, moved from Golar to CoolCo at the same time, and the transfer of the operating organisation was expected by the second quarter of 2022.

The company places itself in Golar’s line. The timeline on its website begins in 1946 with the founding of the Gotaas-Larsen Shipping Corporation, records that Gotaas-Larsen entered LNG shipping in 1970 by ordering the carrier Hilli and was renamed Golar LNG in 2001, and only then reaches CoolCo’s own entries, starting in 2021 with a third-party fleet-management business that includes FSRUs.

Kool carriers and managed FSRUs.

The founding fleet carried Golar names. The eight carriers listed by Offshore Energy in April 2022 included Golar Crystal, Golar Frost, Golar Glacier and Golar Ice. The fleet page on CoolCo’s website now lists its ships under a Kool prefix, with names such as Kool Crystal, Kool Frost, Kool Glacier and Kool Ice. Most are 160,000 to 162,000 cubic-metre TFDE carriers with Mark III Flex membrane tanks, delivered in 2014 and 2015 by Samsung Heavy Industries and Hyundai Samho Heavy Industries, according to that page.

The list has grown beyond the Golar ships. The company’s timeline records the acquisition of four LNG carriers in 2022 and a direct listing on the New York Stock Exchange in 2023. Its fleet page shows two 170,000 cubic-metre carriers, Kool Boreas and Kool Baltic, built by STX in 2015 with GTT NO96 tanks and an Ice2 ice class, and two 174,000 cubic-metre ships with ME-GA engines from Hyundai Samho: Kool Tiger, delivered in October 2024, and GAIL Sagar, which the fleet page dates to January 2025 and the timeline to February 2025.

Management is the second half of the business. CoolCo says it owns and operates LNG carriers, manages third-party FSRUs and manages gas carriers on behalf of Eastern Pacific Shipping, with “approximately 1000 personnel on shore and at sea.” Its FSRU list names BW Singapore and Italis LNG, both shown with SNAM as owner, and its LPG list names Ivy Cove, delivered in 2026 from Jiangnan Shipyard, and STL Nanhu and STL Qianjiang, delivered in 2022 from Samsung Heavy Industries at Geoje.

The company is spread across four offices. Its contact page lists Cool Company Ltd. and its management company in London, Cool Company Management AS in Oslo, and further management companies in Kuala Lumpur and in Split, Croatia.

Design and documentation.

LNG and gas-carrier owners sell a service rather than a product, and their websites tend to show the ships themselves. Corporate pages lean on deep blues, teals and white, with photographs of carriers at sea, at terminals and in shipyards. The hull type in those pictures — a membrane carrier with its long flat deck, or a Moss-type carrier with its row of spherical tanks — is often the most distinctive image a company has.

The fleet list is the core document. Owners such as GasLog publish each vessel by name, cargo capacity in cubic metres, year built, propulsion and ownership share, and use engine shorthand such as TFDE, X-DF and ME-GI that their customers read at a glance. Floating storage and regasification units, or FSRUs, get their own project pages, usually set out by country and terminal, as BW LNG does for its units in Brazil, Pakistan, El Salvador and the Philippines.

Charter and terminal pages sit alongside investor sections. Listed owners carry results, filings, presentations and governance documents; owners that have gone private often keep the investor pages they built while listed. Sustainability pages report fuel-efficiency targets and new engine types in the companies’ own terms, and are read here as company statements rather than independent findings.

This guide sets out what can be checked about each owner — who founded it, who owns it today, which deals have closed and which are only announced — and marks clearly what rests on the company’s own word. Vessel names, capacities and dates come from dated company pages and trade press; the colours and typefaces shown are an unofficial interpretation, not a brand standard.

From two shareholders to one owner.

Its life as a listed company was short. On 24 September 2025 CoolCo announced an agreement in principle on a potential combination with EPS Ventures Ltd, and on 29 September 2025 it announced board approval of an agreement to merge with a newly formed, wholly owned EPS subsidiary, according to the news page of its website. Hellenic Shipping News, carrying a weekly LNG shipping market report by UP-Indices on 30 September 2025, described the plan as the delisting of Cool Company, traded under the ticker CLCO in New York and Oslo, and said Eastern Pacific Shipping then owned 59.3 per cent, with the transaction expected between the fourth quarter of 2025 and the first quarter of 2026.

The deal closed on that timetable. CoolCo announced shareholder approval and the satisfaction of the conditions on 6 January 2026, and on 9 January 2026 it announced the completion of the merger with the EPS subsidiary. Its timeline now gives 2026 as the year it became “100% owned by EPS Ventures” and left the stock exchange. The company continues to trade as a private shipowner and ship manager.

The brand is built on one idea. The company name and the Kool prefix on the hulls work as a single naming system, and the ships take words such as Frost, Blizzard, Glacier and Ice. Its website headline calls CoolCo the “chosen carrier of cleaner more secure energy,” a phrase that is the company’s own.

For a design guide, CoolCo shows how a spin-off can take a fleet from its parent and give it a family name of its own. Compare Golar LNG, the company it was separated from, and Flex LNG, another LNG carrier owner listed in Oslo and New York. For this guide we use a polar navy, a cold-tank blue and a frost white with a sans, an unofficial interpretation; no product or logo is reproduced.

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