FLNG - Flex LNG flies high as Cheniere employs fifth carrier extends TCE on another
Flex LNG (NYSE:FLNG +4.4%) rallied to an all-time high Friday on news that Cheniere Energy (LNG +2.8%) exercised its option to employ a fifth Flex LNG carrier under the time charter agreements announced nearly a year ago. Flex said the Flex Aurora will be the fifth ship to be delivered to Cheniere, commencing its 3.5-year time charter during Q3. Also, the fourth ship under the agreement - the Flex Volunteer - will be delivered to Cheniere in mid-April instead of Q3 as originally agreed, and the time charter with a 3.5-year duration has been extended by ~2.5 months to facilitate early delivery. All existing Flex LNG ships are large liquefied natural gas carriers with a cargo capacity of 173.4K-174K cm. Seeking Alpha contributor Sunrise Analysis says Flex LNG's high yield and solid demand outlook in Europe make the stock a strong buy.
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Flex LNG flies high as Cheniere employs fifth carrier, extends TCE on another