ShippingWatch

Lower freight rates pull down Flex LNG

Fredriksen-owned gas carrier Flex LNG exits the second quarter with markedly lower results in the revenue and bottom line. However, lower gas inventories and fewer newbuilds give way to an optimistic outlook.

Photo: Flex LNG

Following a record start to the year, Flex LNG, which transports liquefied natural gas (LNG) via its fleet of 13 LNG vessels, reports significant decline in the second quarter.

The Fredriksen-controlled gas carrier generated USD 65.8 million in the second quarter, a decline of USD 81.3 million in the first three months of the year, while the net profit came out to USD 12.7 million against USD 47.2 million in the first quarter, reads the quarterly report published Tuesday.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

One alternative fuel may be particularly dangerous

In a new study – which Maersk, Shell, Euronav and MSC Ship Management, among others, are behind – the new alternative fuels are ranked based on how dangerous they are. The industry has to be careful with one of them, in particular.

Further reading

Related articles

Latest news

See all jobs