This week, FLEX LNG organized its annual Officer conference, once again in sunny Gdynia, Poland. Among topics discussed was casual reasoning, compliance and not least the long awaited implementation of OCIMF (Oil Companies International Marine Forum)’s SIRE 2.0 which went live in September. Thanks to everyone joining and we already look forward to the next conference in 2025! #shipping #maritime #lng #energy #naturalgas #gas
FLEX LNG
Maritime Transportation
Hamilton, Hamilton 36,511 followers
A leading LNG shipping company with a fleet of 13 LNG carriers fitted with newest two stroke (MEGI/XDF) propulsion.
About us
Flex LNG is a LNG shipping company with a fleet of next generation LNG carriers. Our fleet consists of thirteen modern LNG ships built at leading Korean shipyards for delivery throughout 2018-2021. All vessels are equipped with slow speed, two-stroke engines – MEGI or X-DF propulsion – which provides Charterers with state-of-the-art tonnage offering significant advantages in form of reduced fuel consumption and lowered boil off rates. Flex LNG is listed both on New York Stock Exchange (NYSE) on the Oslo Stock Exchange (OSE) under ticker "FLNG".
- Website
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http://www.flexlng.com/
External link for FLEX LNG
- Industry
- Maritime Transportation
- Company size
- 51-200 employees
- Headquarters
- Hamilton, Hamilton
- Type
- Public Company
- Founded
- 2006
- Specialties
- LNG Shipping, shipping, LNG, Natural gas, and gas
Locations
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Primary
Par-La-Ville Place, 14 Par-La-Ville Road
Hamilton, Hamilton Hm08, BM
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Bryggegata 3
Oslo, Oslo 0112, NO
Employees at FLEX LNG
Updates
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FLEX LNG Board member and LNG expert Susan Sakmar recently joined Jamison Cocklin for the Natural Gas Intelligence podcast to discuss the state of the LNG market. Hope you tune in! #lng #shipping #gas #naturalgas #energy #oilgas
Thank you to Susan Sakmar for joining me to discuss the state of the LNG market on the latest episode of Natural Gas Intelligence's Hub and Flow podcast! Worth a listen here 👇 https://lnkd.in/ea-egC-V
What’s Next for the LNG Market? A Look Ahead After an Unprecedented Stretch of Events | NGI's Hub & Flow
hubflow.podbean.com
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Did you miss the live webcast of FLEX LNG's second quarter 2024 earnings presentation? No worries, you can watch the full presentation including the Q&A sessions by pressing the link below. Key highlights from the second quarter include: 📊 Revenues: $84.7m, matching our guidance of “close to $85m” 🚢 TCE rate: $72,400 vs. our guidance of $70-75'/day 💰 Adj. EBITDA: $63.2m compared to our guidance of “close to $65m” In the webcast, our CEO Oystein Kalleklev and CFO Knut Traaholt explain how we secured a 10-month firm contract for our Flex Constellation, and achieved credit approved refinancings of $430m at very competitive terms, adding ~$97m in net cash proceeds. 💰 With $370 million cash on hand at the end of Q2-2024, our pro forma cash will rise to ~$467 million. These refinancings also extend some 2028 debt maturities, improving our maturity profile. The board declared another dividend of $0.75 per share, and our running 12-month dividend amount to $3.125 per share, yielding an attractive 12% on our current share price of $25.9/share. Since Q3-2023, Flex LNG has declared and distributed $528m in dividends💰 https://lnkd.in/dRfg7niV
Flex LNG Q2-2024 Video Webcast
https://www.youtube.com/
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🚢 FLEX LNG Q2-2024 Financial Results 🚢 We are presenting our second quarter results today August 14, and we are delivering in line with our guidance: 📊 Revenues: $84.7m, matching our guidance of “close to $85m” 🚢 TCE rate: $72,400 vs. our guidance of $70-75'/day 💰 Adj. EBITDA: $63.2m compared to our guidance of “close to $65m” 🎯 During the quarter we have fixed out Flex Constellation for firm 10-months until Q1-2025 with a charterer’s option until Q1-2026, and we have received credit approved term sheets for $430m in refinancings at very competitive terms with approx. $96m in net cash proceeds. 💰 With $370m cash on balance sheet as per end Q2-2024, this would grow our PF cash to $467m. The mentioned refinancings will also extend some of our 2028 debt maturities, further improving our maturity profile 🔥 With a very strong cash position, 47 years of firm contract backlog which can increase to 66 years with charterer’s extension options, and no debt maturities prior 2028, the Board has decided to declare another ordinary quarterly dividend of $0.75 per share, a total of $40m in total quarterly cash distributions. Our running 12-month dividends now amount to $3.125 per share, yielding an attractive 12% on our current share price of ~$26/share. Since Q3-2023, Flex LNG has declared and distributed $528m in dividends💰 ⚡ We have summarized the key highlights of the second quarter in the link below. We will host a live video webcast at 15:00 CEST / 09:00 am EST. During the webcast, our CEO, Oystein Kalleklev, and CFO, Knut Traaholt, will present the numbers, delve deeper into the LNG markets, and round off with a Q&A session. The best question in the Q&A session will win exclusive FLEX LNG merchandise, including: "Just Flex It" T-shirt, Flex on the Beach flip-flops, and the exclusive FLEX LNG cap.
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🚢 FLEX LNG's Second Quarter Results Presentation🚢 On August 14, FLEX LNG will be presenting its second quarter results in a live webcast at 15:00 CEST / 09:00 am EST. ⭐ Highlights ⭐ - Update on the LNG product and freight market - Detailed insights into our Q2-2024 and H1-2024 financial results - Overview of key events shaping the LNG shipping business 🔊Q&A Session🔊 Following the presentation, we will as always arrange a Q&A session. The best question will win exclusive FLEX LNG merchandise, including: "Just Flex It" T-shirt, Flex on the Beach flip-flops, and the exclusive FLEX LNG cap. Submit your questions through our webcast user-interface for a chance to win! 🔥 Link to our webcast: https://lnkd.in/dMqyKJhj
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Times fly by when you have fun! Picture of FLEX LNG NYSE listing June 2019 when CEO Oystein Kalleklev rang the opening bell together with the recent 5 year aniversary when our CCO H. Marius Foss recently rang the closing bell at New York Stock «Flexchange»🔔#lng #shipping #maritime #gas #energy #naturalgas #ipo #fianance
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Occupy Wall Street! On June 24, FLEX LNG and our affiliated company SFL Corporation Ltd. had the honour of closing and opening NYSE to mark their 5 and 20 years listing, respectively. Two days later, Flex CEO Oystein Kalleklev and SFL CEO Ole B. Hjertaker moderated a panel at Marine Money Week where they turned the table on the equity analyst, grilling them with questions about what have gone right and wrong in terms of recommendation and where they see value today. Glad to have Jonathan Chappell from Evercore, Petter Haugen from ABG Sundal Collier, Frode Mørkedal from Clarksons Securities, Omar Nokta from Jefferies, Tate Sullivan from Maxim Group LLC and Climent Molins from Value Investor's Edge joining the panel. You can see a replay of the discussion in this video: #lng #shipping #investing #finance #maritime #stocks #shares #dividends #gas #naturalgas #yield https://lnkd.in/dhmjH6h2
Leading Analysts Explain Today's Best Ideas
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If you missed out on Marine Money Week in New York City last week, then you now have the chance to view the replay of FLEX LNG CEO Oystein Kalleklev discussing the FLEX LNG journey as well the latest development in Avance Gas with Christa Volpicelli, Managing Director of Citi. #lng #lpg #shipping #maritime #gas #naturalgas #energy #investing #stocks #finance https://lnkd.in/dpkMfsC2
In Focus Øystein M Kalleklev, CEO, Flex LNG; CEO, Avance Gas
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We would like to thank everyone that joined our five year anniversary closing bell ceremony on NYSE on Monday June 24 in connection with the Marine Money Week conference in NYC. Here are a few pictures of the celebration! #shipping #maritime #energy #gas #naturalgas #finance #banking #freight #oil #oilgas
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Five years and one week since NYSE listing of FLEX LNG when we did the opening bell. This we today celebrate with the five year anniversary closing bell which was nicely executed by our Chief Commercial Officer H. Marius Foss with our CEO Oystein Kalleklev in a supporting role with the hammer. Thanks to everyone sharing this day with us in New York City! #lng #shipping #maritime #energy #gas #investing #finance #oil #dividends https://lnkd.in/dgivWzpv
Flex LNG Ltd. (NYSE: FLNG) Rings The Closing Bell®
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