June 28, 2022

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Flex LNG Increases Late Orders by 7.5 Billion - E24

Flex LNG Increases Late Orders by 7.5 Billion – E24

Frederiksen Shipping provides 24 years of overtime for three of its ships.

John Frederiksen is alongside the owner in a number of sectors on the Oslo Stock Exchange, including shipping, real estate and salmon.
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Gas shipping company Flex LNG, of which John Frederiksen is the main owner, announced hourly charter agreements Thursday morning (fixed and long-term contracts, editor’s note) for three of its ships, according to a report.

For two of the ships, the Flex Enterprise and the Flex Amber, the business is now seven years in operation as of the third quarter of this year, and for the latter, the Flex Rainbow, the term is now ten years as of January 2023, it appears.

In all, this gives an additional $750 million, or about 7.5 billion kronor, towards the company’s backlog, reportedly.

– It reflects the strength of the market during the day, Flex LNG director Øystein Kalleklev says in the report.

Under the new contracts, the backlog of orders has increased significantly, and she is now 54, with options for a 28-year extension, according to Flex LNG.

– Callcliffe says it will enhance our ability to continue to generate large and attractive profits.

Flex LNG’s stake in the Oslo Stock Exchange rose 126 percent in the past year. Market capitalization 13.6 billion Norwegian kroner.

In the first quarter, the company made $56 million, according to the report submitted in May.

Flex LNG’s board of directors then decided to pay a dividend of $0.75 per share to shareholders.

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