Higher rates boosted Flex LNG's 2019 result

Growing rates helped increase Flex LNG's top and bottom line in the fourth quarter of 2019, says CEO in the financial report.

Øystein Kalleklev, Flex LNG chief executive, says that increasing rates helped the company improve its result. | Photo: Flex LNG

Shipping company Flex LNG ended 2019 on a high note, increasing both its top and bottom line, as a result of higher rates, shows the company's fourth-quarter interim report, published Wednesday.

Revenue grew from USD 29.8 million in the third quarter of 2019 to USD 52 million in the fourth quarter. Meanwhile, the bottom line also grew from USD 0.5 million to USD 23.9 million.

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