Welcome to our dedicated page for Flex Lng news (Ticker: FLNG), a resource for investors and traders seeking the latest updates and insights on Flex Lng stock.
Flex LNG Ltd. (FLNG) is an LNG shipping company whose news flow reflects its role in the liquefied natural gas transportation market and its presence on the New York Stock Exchange. Company announcements describe a fleet of thirteen modern LNG carriers equipped with MEGI and X-DF two-stroke propulsion, and many news items relate to how this fleet is employed, financed and maintained.
Investors following Flex LNG news can expect regular earnings releases and result presentations for quarterly and half-year periods. These updates, often furnished to the SEC on Form 6-K, discuss vessel operating revenues, net income, Time Charter Equivalent (TCE) rates, adjusted EBITDA, charter backlog, cash balances, and dividend declarations. The company also announces dates and registration details for live video webcasts and Q&A sessions where management presents financial results.
Flex LNG’s news also covers capital allocation and financing actions, including term loan facilities with international shipping banks, sale and leaseback agreements with Asian-based lease providers for specific vessels, and share repurchase programs authorized by the board. Press releases describe how these transactions affect debt maturities, financing costs and available liquidity, and how they relate to the company’s Balance Sheet Optimization Program.
Other news items include corporate governance and incentive developments, such as the approval of a long-term incentive plan granting synthetic options to management and employees, and announcements about executive appointments, including the naming of a new CEO for Flex LNG Management AS. Operational updates, such as the completion of scheduled drydockings and special surveys for vessels like Flex Aurora, Flex Resolute, Flex Artemis and Flex Amber, also feature in the company’s communications.
By monitoring the FLNG news page, readers can track how Flex LNG reports its financial performance, manages its LNG carrier fleet, structures its financing, and makes board-level decisions that shape its capital structure and leadership, all based on official press releases and regulatory disclosures.
Flex LNG has announced that its Chief Financial Officer, Knut Traaholt, will be conducting a non-deal roadshow to meet with investors in the United States and Canada. The company has made the presentation materials available on their website and attached to the announcement. This investor outreach initiative suggests that Flex LNG is actively engaging with its shareholders and potential investors, potentially to discuss the company's financial performance, strategy, or future outlook. For those seeking more information, Flex LNG has provided contact details for Mr. Traaholt.
Flex LNG (NYSE: FLNG) (OSE: FLNG) has successfully completed $430 million in new financings as announced in their Q2-2024 report. The company finalized a $270 million bank facility for Flex Aurora and Flex Ranger on September 24, 2024, repaying a previous $375 million facility. This left Flex Endeavour unencumbered at the end of Q3-2024. On October 3, 2024, Flex LNG closed a $160 million JOLCO lease for Flex Endeavour at favorable terms.
With a cash balance of $370 million as of June 30, 2024, these refinancings will further enhance the company's substantial cash position. CFO Knut Traaholt emphasized the attractive terms of the refinancings and expressed gratitude for the support from banks and lease providers. Flex LNG's fleet consists of thirteen state-of-the-art LNG carriers with modern two-stroke propulsion, offering improved fuel efficiency and reduced carbon footprint.
Flex LNG (FLNG) has reported mandatory notifications of trade by persons discharging managerial responsibilities (PDMR). CEO Øystein Kalleklev exercised 100,000 options and sold 100,000 shares on the New York Stock Exchange at an average price of USD 26.65 per share on September 18th and 19th, 2024. After the sale, Kalleklev retains ownership of 50,000 common shares.
CFO Knut Traaholt also exercised 48,000 options and sold 48,000 shares at the same average price during the same period. The company has disclosed this information in compliance with Article 19 of the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.
Flex LNG (NYSE: FLNG) announced that CEO Øystein Kalleklev will be presenting at the 31st Energy Conference hosted by Pareto Securities. Flex LNG is a shipping company specializing in the Liquefied Natural Gas (LNG) market. The company's fleet consists of thirteen state-of-the-art LNG carriers equipped with the latest generation two-stroke propulsion systems (MEGI and X-DF). These modern ships offer significant improvements in fuel efficiency and reduced carbon footprint compared to older steam and four-stroke propelled ships. Flex LNG is listed on both the New York Stock Exchange and Oslo Stock Exchange under the ticker FLNG.
Flex LNG (FLNG) presented at Pareto Securities' 31st Energy Conference on Sept. 12, 2024. CEO Øystein Kalleklev delivered the presentation, which is attached to the announcement and available for download on the company website.
Flex LNG describes its fleet as thirteen state-of-the-art LNG carriers using two-stroke propulsion (MEGI and X-DF), which the company says improves fuel efficiency and carbon footprint versus older steam and four-stroke ships. Investor contact details for CFO Knut Traaholt and a downloadable presentation link are provided.
Flex LNG (Ticker: FLNG) has announced dividend payments for shareholders on both the Oslo Stock Exchange (OSE) and the New York Stock Exchange (NYSE). Shares traded on OSE will go ex-dividend of USD 0.75 per share on August 28, 2024, with payment expected around September 17, 2024. For NYSE-traded shares, the ex-dividend date is set for August 29, 2024, with payment anticipated around September 12, 2024. This dividend announcement demonstrates Flex LNG's commitment to returning value to shareholders across its dual-listed stocks.
Flex LNG (FLNG) has announced key information regarding its cash distribution for the second quarter of 2024. The company will distribute $0.75 per share from its Contributed Surplus Account. Due to the settlement cycle change on the New York Stock Exchange (NYSE) from T+2 to T+1, there will be different dates for NYSE and Oslo Stock Exchange (OSE) shareholders:
NYSE shareholders: Last day including right is August 28, 2024; ex-date and record date are August 29, 2024; payment date is around September 12, 2024.
OSE shareholders: Last day including right is August 27, 2024; ex-date is August 28, 2024; record date is August 29, 2024; payment date is around September 17, 2024.
The distribution was approved on August 13, 2024. Shareholders may face restrictions in moving shares between NYSE and OSE during the interim days.
Flex LNG has announced the release of its second quarter 2024 financial results presentation. The company will host a live video webcast on August 14, 2024, at 15:00 CEST (09:00 a.m. EST) to discuss the results. Investors and analysts can access the webcast through a provided link, with a Q&A session following the presentation. Additionally, Flex LNG has published a short teaser video highlighting the quarter's key points, available on YouTube and the company's website. The presentation materials will also be accessible on www.flexlng.com. For further inquiries, stakeholders can contact CFO Knut Traaholt.
Flex LNG reported its Q2 2024 financial results, with vessel operating revenues of $84.7 million, down from $90.2 million in Q1. Net income decreased to $21.8 million ($0.41 per share) from $33.2 million ($0.62 per share) in Q1. The average Time Charter Equivalent rate was $72,385 per day, down from $76,539 in Q1.
The company completed scheduled drydocking for two vessels and secured new financing facilities, including a $160 million sale and leaseback for Flex Endeavour and a $270 million bank loan for two other vessels. These refinancings will address Flex LNG's first debt maturity and improve its financial position.
Flex LNG declared a dividend of $0.75 per share for Q2 2024, payable on September 12, 2024. The company expects revenues to increase to approximately $90 million in Q3 2024 due to improved market conditions and no scheduled off-hire.
Flex LNG (FLNG) has announced the release of its unaudited financial results for the second quarter of 2024, scheduled for Wednesday, August 14, 2024, at approximately 07:00 CEST (1:00 a.m. EST). The company will host a live video webcast at 15:00 CEST (9:00 a.m. EST) on the same day to discuss the earnings. Interested parties can register and watch the webcast through a provided link. A Q&A session will follow the presentation, with instructions on how to submit questions given at the beginning. Questions can also be emailed to ir@flexlng.com. The presentation material will be available on the company's website, and a replay of the webcast will be accessible on both the website and Flex LNG's YouTube channel.