Bermuda-based liquefied natural gas (LNG) specialist Golar LNG Ltd. may spin off its shipping unit amid a positive outlook for freight rates.

CEO Karl Fredrik Staubo said recently strong demand in Asia, along with new International Maritime Organization decarbonization rules that would cut the number of active older LNG carriers starting in 2023, is likely to keep rates high for the next several years.

“The increased obsolescence of tonnage built in the 1990’s and earlier, coupled with limited additional orders, should together with an expanding LNG trade translate into tight shipping market balance going forward,” Staubo said during Golar’s 2Q2021 earnings call. “Based on the current positive market outlook for LNG carriers, we have reengaged initiatives to refinance...