FLNG Flex LNG Ltd.

Flex LNG - Ex Date Q1 2023

Flex LNG - Ex Date Q1 2023

May 30, 2023

Hamilton, Bermuda

The shares in Flex LNG Ltd. (Ticker: FLNG) will be traded ex dividend of USD 0.75 per share for the first quarter of 2023 as of today, May 30, 2023.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.



EN
30/05/2023

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Reports on Flex LNG Ltd.

Jørgen Lian
  • Jørgen Lian

Another abrupt change

The US Trade Representative on 17 April published revised US port fees with significant changes to the initial proposal based on industry feedback. In its current form, the fees will primarily discourage use of Chinese-controlled maritime trade services to the US, and directly affect the use of Chinese-built vessels in US ports (with several considerable exemptions to avoid harm to US trade). The previous broader fees based on fleet composition and share of Chinese-built vessels has been scrappe...

Jørgen Lian
  • Jørgen Lian

Flex LNG (Buy, TP: NOK320.00) - Set to hold course on 14% DPS yield

With ~90% of days fixed for 2025 and 2026, and a cash balance of 11x its ‘regular’ quarterly dividend, Flex LNG’s USD0.75 DPS looks insulated from market storm, offering a compelling 14% yield. Additionally, we expect freight markets to recover from 2026, with current newbuild prices implying a long-term TC contract of cUSD90k/day to justify the investment, in our opinion supporting a firm long-term rate outlook. We reiterate our BUY but have cut our target price to NOK320 (340).

ABGSC Shipping & Transport Research ... (+4)
  • ABGSC Shipping & Transport Research
  • Martin Mauseth
  • Oliver Dunvold
  • Petter Haugen
Jørgen Lian
  • Jørgen Lian

‘The times they are a-changin’

The recurring theme at our 18th Energy & Shipping Conference was geopolitical uncertainty and a potential trade war, warranting a wait-and-see approach, particularly on the Trump 2.0 effect. The consensus view pointed to high asset values, with no rush to the yards, aligning with below-NAV valuations across most of our coverage. However, panellists generally saw less downside risk than the 25% average discount to steel for our Tanker, Dry Bulk and Gas coverage. Overall, the day highlighted uncer...

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Martin Mauseth
  • Petter Haugen

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