LNG

Flex LNG Ltd, the growing LNG shipping company listed on the Oslo bourse and based in Bermuda and whose shareholders include trusts connected to Norwegian shipping magnate John Fredriksen, more than doubled first-half revenues compared with the year before, though reported a loss as it awaited more of its own ships to begin charter operations.

Flex LNG, the Oslo-listed shipping and projects company backed by funds controlled by Norwegian shipping magnate John Fredriksen, reported a widened first-quarter loss and the departure of Chief Executive Jonathan Cook.

April 18 (LNGJ) - Flex LNG, the Norway-listed shipping and project company, has chartered an LNG carrier for 12 months to Italian energy company Enel Trade SpA. Flex said the charter would start in the second half of 2019 with an option to extend for 12 months. Flex intends to employ the 173,400 cubic metres capacity carrier “Flex Enterprise” for the charter, though has the option to nominate one of its sister ships. “This charter is in line with our strategy of adding incremental revenue as the market for LNG shipping continues to improve and provides important earnings visibility for the company,” said Jonathan Cook, Chief Executive.