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.

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