FLEX LNG

Last week, FLEX LNG had the privilege, together with our Crewing partner Bernhard Schulte Shipmanagement, to host our annual Crewing Conference in Manila, the capital of the Philippines. With more than 400,000 Filipino seafarers serving on ships worldwide, the Philippines remains the largest recruitment base of maritime professionals globally 💪 The conference focused on the critical theme of safety and care for people - an issue at the core of every seafarer's journey. It is a privilege to engage directly with seafarers, hearing their insights and experiences first-hand, and fostering meaningful discussions on how to make the industry safer for those who dedicate their lives to the seas 🌏 We also used the opportunity to celebrate 0 Loss Time Injuries onboard our vessel so far in 2024 ⭐ We look forward to more opportunities to engage, collaborate, and honor the people who truly power our industry 🚢   Safety First - No Compromises!

🚨 Missed FLEX LNG’s Q3-2024 Earnings Presentation? No worries - catch up on everything in the webcast replay, available at the link below! 📽️ Here are some key takeaways from the quarter: 📊 Revenue: $90.5, smack on our guidance of “approx. $90m” 🚢 Time Charter Equivalent (TCE) Rate: ~$75,400/day, within our $73K–$75K guidance range 💰 Adjusted EBITDA: $70.4m, in line with our guidance of “approx. $70m” During the presentation, CEO Oystein Kalleklev and CFO Knut Traaholt highlighted some major milestones: 🚢 Secured up to 20-years of backlog for Flex Courageous and Flex Resolute 💲 Completed $430m in new financings, leaving our profroma cash balance per Q3-2024 of $450m 💸 The Board declared another ordinary dividend of $0.75 per share – the thirteenth consecutive dividend of $0.75/share – bringing our 12-month dividend pay-out to $3.0/share – an attractive 12% yield based on our current share price of $25. Watch the full presentation and Q&A by accessing this link: https://lnkd.in/dqE2KbmP

The FLEX LNG Q3 Webcast presentation is starting 15:00 CET / 09:00 am EST, but if you want a sneak peak you can watch CEO Oystein Kalleklev in discussing the Flex LNG and the LNG market in Norwegian with host Marius Lorentzen and finance specialist Karl-Johan Molnes at Finansavisen Børsmorgen this morning at opening of Euronext Oslo Børs. #lng #shipping #maritime #energy #naturalgas #gas #oil #finance https://lnkd.in/d5Knayzu

🚢 FLEX LNG Q3-2024 Financial Results 🚢 We are presenting our third quarter results today November 12, and we are delivering smack on our guidance: 📊 Revenues: $90.5m, matching our guidance of “approx. $90m” 🚢 TCE rate: ~$75,400 vs. our guidance of $73-75'/day 💰 Adj. EBITDA: $70.4m compared to our guidance of “approx. $70m” 📈 We have secured up to 20 years of additional backlog from 2029 and onwards with the extension of Flex Courageous and Flex Resolute. This gives us a minimum of 50 years of firm contract backlog, which may increase to 82 years with charterer's extension options. 💰 Since August, we have executed and completed $430m refinancings, improving our cost of capital and extending maturities, while at the same time realizing $97m in net proceeds. 🔥 With a strong financial position and high contract coverage, the Board has decided to declare another ordinary quarterly dividend of $0.75 per share - the thirteenth consecutive time paying an ordinary dividend of $0.75 - totalling $569m when including the special dividends ❗. Our running twelve-month dividends now amount to $3.0 per share, yielding an attractive 13% on our current share price of ~$24/share. ⚡ We have summarized the key highlights of the third quarter in the link below. We will host a live video webcast at 15:00 CET / 09:00 am EST. During the webcast, our CEO, Oystein Kalleklev, and CFO, Knut Traaholt, will present the numbers, give an update on the broader LNG market, and finish off with a Q&A session. We have two prizes for the best questions, and the winners will win the super exclusive smell of dividends - either His Money cologne and Her Money eau de parfum 👀

FLEX LNG is pleased to announce it has agreed with the Charterer of Flex Courageous and Flex Resolute, a Supermajor, to amend the existing Time Charter Agreements (“TC”) for the two LNG carriers where the parties have agreed a new firm period from 2029 to 2032 which may be extended by an additional seven years in total until 2039⏳ As communicated by the Company on November 1, 2021, Flex LNG and the Charterer then agreed TCs for the two ships with commencement during the first quarter of 2022 where the firm period was three years for each of the LNG carriers and where the Charterer could extend each ship by two additional two-year periods. In the event both extension options are declared, the period would thus increase to seven years under each of the TCs i.e. the TCs have a contract structure of 3 years firm plus 2+2 optional years 3️⃣+2️⃣+2️⃣ As further announced on January 18, 2024, and February 23, 2024, respectively, the Charterer declared the first two-year options to extend the firm period for the ships from first quarter of 2025 until first quarter of 2027. Hence, the Charterer currently has remaining options to extend the period for each ship by another two-year period until first quarter of 2029. These two options are declarable in the first quarter of 2026. Under the amended TC for both ships, the Charterer has added a minimum three-year firm period from 2029 until 2032. At the same time, the Charterer has the option to extend each TC by three additional periods consisting of two periods of each two years while the last period is for three years. Hence, the parties have agreed to add an additional contract structure of 3-year firm plus 2+2+3-optional years to the existing TCs from 2029 onwards. In the event, the Charterer utilizes all its new extension options, the redelivery of the ships will be 2039. The new firm periods, with associated options, are agreed regardless of whether the Charterer declares the last existing extension option from 2027 to 2029 for the two ships. However, we find it likely that this extension option also will be utilized given the new firm period from 2029 🤞🏼 Oystein Kalleklev, CEO commented: “We are happy to announce another substantial charter extension for Flex Courageous and Flex Resolute. Customer satisfaction is paramount to Flex LNG and we therefore focus on delivering not only advanced vessels, but also a superior service level in everything we do from shore to sea. Hence, we are very pleased that our existing Charterer have agreed to continue to work together with us for a very long period to come. This extension fits with our communicated strategy of fixing our ships for longer duration at higher rates.” #lng #shipping #maritime #energy #gas #naturalgas #transportation #investing https://lnkd.in/drgMk2Dh

The election is over, but next week there will be another election! FLEX LNG CEO Oystein Kalleklev and CFO Knut Traaholt will then decide the best question in our Q&A session in connection with Q3 reporting. This time, the best question can win a gift with the rich smell of dividends. Not only that, in order to increase diversity in our Q&A session, we this time have two prizes, one His Money cologne and one Her Money eau de parfum. So we hope you will join our live webcast at 15:00 CET / 09:00 am EST where we will run you through our numbers and recent events, provide an update on the status of the LNG market and conclude with our usual Q&A session. #lng #shipping #maritime #gas #naturalgas #energy #investing #dividends #finance #oil #oilgas

🚢 Q3-2024 November 12th 🚢 Join us on November 12th as FLEX LNG presents its Q3-2024 report and updates on financial and market performance. We’ll be hosting a live video webcast at 15:00 CET / 09:00 am EST, where our CEO Oystein Kalleklev and CFO Knut Traaholt will walk you through the quarter’s highlights, financial results, and an LNG market update. 💥 Q&A session 💥 Following the presentation, we’ll open the floor to your questions in a live Q&A session. Click here to register and access the webcast: https://lnkd.in/dm-CeMse #LNG #naturalgas #oil #shipping #maritime #finance #dividends #stocks #shares #seatankers

In case you missed the Capital Link 16th New York Maritime Forum, you can now view a reply of the LNG Shipping Sector Panel where FLEX LNG CFO Knut Traaholt discussed the state of the LNG market with other shipping executives. #lng #gas #oil #finance #shipping #matitime #naturalgas #energy #investing #transportation https://lnkd.in/duCFRVNB

Last week FLEX LNG CEO Oystein Kalleklev talked about future fuels with other industry leaders at the TradeWinds Shipowners Forum in Japan. The replay is now available on YouTube, the future fuels session starts at around 45 minutes. #gas #shipping #maritime #energy #naturalgas #fuels #energy https://lnkd.in/d4R8Kuyx

Running for 628,269 reasons! We want to thank everyone supporting cancer research in connection with Oslo Marathon where our team of athletes completed the half marathon and the 10k run. Once again, our best athlete was Marius Aasen, Head of Decarbonization, who burned a lot of calories with an impressive 1:22 on the half marathon. Together we have raised NOK 628,269 (~$60,000) for cancer research! We want to extend a special thanks to Astrup Fearnley Group contributing NOK 100,000, Arctic Securities/Braemar/BRS Shipbrokers all contributing NOK 50,000 each, McQuilling Partners, Inc. contributing NOK 20,000 as well as a NOK 120,000 contribution from FLEX LNG, SFL Corporation Ltd., Frontline Management AS, Golden Ocean Group, Avance Gas and Archer - the well company. That said, we also received a lot of private contributions so we are very grateful for your support and are looking forward to repeating this next year! #shipping #maritime #energy #cancer #marathon #finance