Flex LNG

Flex LNG reported Q3 2025 vessel operating revenues of $85.7 million and net income of $16.8 million, with a TCE rate of $70,921 per day. The company completed drydocking for two vessels, secured a $180 million term loan, and finalized a sale and leaseback agreement. Flex LNG declared a $0.75 per share dividend, marking the seventeenth consecutive quarter. Despite near-term market softness, strong financial maneuvering, including refinancing initiatives generating $530 million, and a solid balance sheet position Flex LNG well for long-term LNG demand growth.

Flex LNG Ltd. announced the successful completion of a $175 million JOLCO lease financing for the Flex Courageous, generating $42 million in net proceeds and extending debt maturity to 2035, while reducing debt costs. This is the first step in the company’s refinancing program targeting three vessels with a 37-year backlog. Flex LNG plans to refinance two more vessels in 2025 to further strengthen its financial position, which is already robust with a cash balance of $410 million.