FLNG - Flex LNG stock hits 1-month high on strong Q4 results

Flex LNG (NYSE:FLNG) stock rose 10% to its highest in a month after posting record Q4 results that topped Street estimates. FLNG said it secured attractive long-term time charters with a mixed portfolio of market rate, spot and fixed rate contracts. As of Feb. 16, FLNG's fleet has an aggregate of 32 years firm periods and with charterer's options, this could extend to over 65 years, if declared. The company also said it has a strong backlog, with 93% of 2022 already covered. FLNG also reported all-time high cash, cash equivalents and restricted cash balance of $201.2M, primarily driven by the refinancing of Flex Volunteer in Dec. "... we think the freight market will re-balance as volume growth in 2022 is expected to exceed 2021, while the number of newbuildings set for delivery this year is about half of last year," said CEO Øystein Kalleklev. "We are guiding revenues for

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Flex LNG stock hits 1-month high on strong Q4 results