LNG

Flex LNG, the Norwegian shipping company with a fleet of 13 modern vessels and several chartered to the largest US exporter, reported an 18 percent jump in first-quarter net income even amid spot freight market challenges at the end of the three months as the LNG trade abruptly shifted towards Europe from Asia.

Teekay LNG Partners, the New York-listed affiliate of the shipping company with 48 liquefied natural gas carriers in its fleet, has made board changes as it continues to develop its LNG strategy.