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FLEX LNG Ltd. (0RQ8.L)

LSE - LSE Delayed price. Currency in NOK
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51.11+39.56 (+342.51%)
At close: 02:16PM BST

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  • m
    martin
    28s was a good buy this morning for FLNG…
  • w
    william
    LNG demand will be good for years to come
  • m
    martin
    A few key points to note in the LNGC market. In the next 2 yrs, nearly 30 Steam carriers will roll off of legacy charters. They will no longer be competitive, thereafter.
    New IMO restrictions for 2023 and beyond will greatly favor the MEGI-
    style tonnage

    Only a handful of newbuild deliveries through 2024 are open - almost all are tied to projects with contracts.

    LNG future prices thru 2024 indicate at least $25? Mother MEGI style vessels will continue to experience very large premiums.

    Several FLNG vessels will be open to recharter by mid to late 2024, either via 1-yr options that can be exercised by existing charterers or more likely new longer term deals with those charterers.

    The point being that the current div payout of $3.50/sh (includes a 0.50/sh special ) will be sustained thru 2024, and quite likely increased.

    11% yield should be seen as very secure, imo
  • J
    John
    With winter months coming just around the corner demand will grow especially in Europe. Believe FLNG may move up to 35 by the end of this month.
  • m
    martin
    5-yr charter rates strongly correlate to NB prices (see their Q2 presentation).

    Current 5 yr rates are about $110,000/day. If those were to be available 12 months from now - which is quite likely - then you’ll begin seeing management securing new contracts for several of their fleet, that expire in 2024, at levels higher and longer than existing rates.

    I would expect that FLNG could see their div paying capacity to rise to $5/sh, in a not unrealistic blue sky scenario
  • m
    martin
    New presentation… modern carrier now $250M
  • P
    Passive Income
    Last months option expiration date saw FLNG closing at $35.02. With $35 being the most likely put/call option strike price. Making all those sales expire basically worthless and max profit to those sellers. With the special dividend all active strike prices adjust down by $0.50. If FLNG closes close to $34.50 someone is manipulating the share price. If that’s the case we should see some real price movement next week.
  • M
    Michael
    Anyone else think theres another 10% to squeeze out of the LNG puppy as we head into the winter.
    Various companies, GLNG, GLNG and COOLCO , will surely make another 10% off Hype and lng gas demand
  • c
    chris
    Of FLNG's 13 vessels, 3 had their lt contracts (7-10 years) renegotiated in June '22, and 2 are open to be leased. The renegotiated terms must reflect the June demand and the two still open will reflect even additional demand. Those 5 contracts, representing 40% of the fleet, will certainly boost FLNG bottom and top lines.
    I'd say pps appreciation is in the cards!
  • T
    Triantafyllos
    I think that's stock options liquidation day today
  • c
    chris
    “Europe’s storages are well on track to hitting or even surpassing their targets for this summer, and there’s plenty of scope to replace that gas with liquified natural gas imports for now, but when weather turns cold and demand starts to pick up in the winter in Europe and Asia, there’s only so much LNG out there that Europe can import to replace Russian gas.”
    -Jacob Mandel, a senior associate for commodities at the energy consultancy Aurora
  • m
    martin
    Spot rates late Friday $295,000/day
  • m
    martin
    Look for contract extensions of the Constellation and Vigilant, whose 3 yr fixed charters expire in mid-2024, and for which the charterer has 3 one-yr option extensions. I would expect FLNG is sitting is a strong position, given the very limited new tonnage, to secure very strong renewalls, and probably well in advance of the expiration.

    Also, their variable hire contract vessel (thru 2025) is all but minting money, with rates now pushing near $200K/day for the MEGI class, and likely to see $400K/day this winter. In other words, it is possible that their single spot exposed vessels could earn the equivalent of what 4 or more of their fixed contract vessels earn.

    I would expect that FLNG will be in a position to increase their earnings, and lengthen further their earnings visibility, and so increase their regular dividend to near $4/sh in the coming year or so.

    Shares are not expensive at $31/sh on an NAV basis, given the Fernleys NB cost estimate today was $240M.
  • K
    Klaus
    Nord Stream 1: Russia's Gazprom announces indefinite shutdown of pipeline. The Russian oil firm said gas supplies to the pipeline are completely stopped due to equipment issues. The energy giant gave no time frame on when it would restart the pipeline, which supplies gas to Western Europe.
  • l
    leonard
    Bought more today. The ships are all on charter at rates large enough to allow special divi. Makes no sense that the share price down 7.7%.
  • L
    LHH
    wow... this from their cc...We are therefore reiterating our revenue guidance of about $90 million for the third quarter and somewhere between $90 and $100 million for the fourth quarter. Hence, we expect even stronger results in the second half of the year as we are re-pricing our portfolio of ships with longer duration contracts.
  • D
    Dennis
    Anyone have insight into what happened today? Started in the $32's. Should be rising into ex date for $1.25 dividend due 9/16.
  • c
    chris
    A few seem to believe FLNG is positioned for “stability” – By that do you mean stable earnings (as the current contracts imply) or stable earnings growth (3 year’s of Q3 earnings reports: +$44MM; +$12.7MM, -$14.9MM ).
    I believe that have a plan to maintain their stable earnings growth trend (improved efficiency, less debt, newbuilds, magic)

    Q3 2022 - Net income of $44.3 million and basic earnings per share of $0.83 for the second quarter 2022, compared
    to net income of $55.8 million and basic earnings per share of $1.05 for the first quarter 2022

    Q3 2021 - Net income of $12.7 million and earnings per share of $0.24 for the second quarter 2021, compared to net
    income of $47.2 million and earnings per share of $0.88 for the first quarter 2021

    Q3 2020 - Net loss of $14.9 million and loss per share of $0.27 for the first quarter 2020, compared to a net income of
    $23.9 million and earnings per share of $0.44 for the fourth quarter 2019.
  • l
    limkemann
    I highly recommend http://bullishstocks.tech. to any day traders out there! The daily email watchlists are top-notch!
  • s
    sam
    Divy up to$1.25..BUY,BUY,BUY!