FLEX LNG Ltd.
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Halfdan Marius Foss
- Full Time Employees
- 9
- Sector
- Transportation
- Industry
- Marine shipping
- Address
- Par-La-Ville Place Hamilton HA Bermuda HM08
- IPO Date
- Oct 30, 2009
- CIK
- 0001772253
- Website
- flexlng.com
- Similar Companies
- Business
- FLEX LNG Ltd. FLEX LNG Ltd. (NYSE: FLNG; OSE: FLNG), a Bermuda-based shipping company founded in 2006 and headquartered in Hamilton, Bermuda, owns and operates a modern fleet of 13 liquefied natural gas (LNG) carriers focused on seaborne transportation services worldwide; the vessels, constructed between 2018 and 2021, feature advanced M-type electronically controlled gas injection (MEGI) propulsion systems with partial or full reliquefaction capabilities on several units and Generation X dual-fuel (X-DF) propulsion on others, enabling reduced fuel consumption, lower boil-off rates, enhanced efficiency, and minimized environmental impact compared to older LNG carriers; core services include long-term time charters providing stable revenue streams to global energy companies, LNG traders, utilities, and regasification terminal operators, supplemented by spot market voyages for flexible short-term opportunities. The company serves major customers including supermajors and large Asian LNG importers, with operations spanning key global LNG trade routes and a contract backlog exceeding 60 firm years, potentially extending to nearly 100 years with options; subsidiaries such as Flex LNG Chartering Limited and Flex LNG Management AS support commercial operations, fleet management, and technical services from bases including Norway. Recent developments include a 15-year time charter for Flex Constellation commencing in 2026 through 2041 with extension options to 2043 secured with an existing Asian utility and trader client, announced in late 2024; amendments to existing charters for Flex Courageous and Flex Resolute with a supermajor adding a firm three-year period from 2029 to 2032 plus up to seven more years to 2039, also in late 2024; a $175 million refinancing of Flex Courageous in 2025 unlocking approximately $43 million in net proceeds as the first of three planned vessel deals; initiation of a $15 million share buyback program in August 2025 running through November 2025; and completion of all four planned 2025 drydockings on time and under budget by Q3 2025, with further surveys scheduled into 2026, alongside sustained quarterly dividends of $0.75 per share and a record cash balance of $479 million reported in Q3 2025.
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