A weakened LNG trading market and lower charter rates have increased interim net losses for John Fredriksen-controlled Flex LNG.
In a results statement, Flex reported an average time charter equivalent (TCE) rate of $46,588 per day for the second quarter 2020, compared to $67,740 per day in the previous quarter.
Flex LNG chief executive Oystein Kalleklev acknowledged that the company’s vessels were exposed to a weak spot market in spring and summer, but said that the trading results were in line with its guidance.
