FLEX LNG (FLNG) DNB Carnegie's Energy & Shipping Conference 2026 presentation summary

Fleet and operational highlights

• Operates 13 modern LNG carriers with an average age of 6.3 years, featuring advanced propulsion technologies.

• Secured a minimum of 50 years of charter backlog, potentially extending to 75 years with options.

• No debt maturities before 2029 and a strong cash position of $448 million as of year-end 2025.

• Listed on the NYSE with a market cap of $1.6 billion and high daily trading volume.

• Paid out approximately $850 million in dividends since 2019, yielding a total shareholder return of about 390%.

Market environment and outlook

• Spot charter rates for modern LNG carriers reached around $278,250 per day in March 2026, with some reports as high as $300,000 per day.

• LNG shipping market faces volatility due to high vessel availability and a heavy orderbook, with 78 newbuilds delivered in 2025 and more expected in 2026.

• European LNG imports increased by 25% year-over-year, absorbing significant volumes but not increasing ton-mile demand.

• Asia remains highly reliant on Qatari LNG, with up to 94% exposure in some markets.

• Geopolitical risks, such as disruptions in the Strait of Hormuz, can significantly impact global LNG supply and pricing.

Risk factors and uncertainties

• Forward-looking statements are subject to risks including market fluctuations, geopolitical events, regulatory changes, and operational disruptions.

• Factors such as inflation, interest rates, supply chain disruptions, and vessel breakdowns may materially affect results.

• Geopolitical tensions, including conflicts in Ukraine and the Middle East, pose ongoing risks to energy markets.

• LNG prices have shown significant volatility, with TTF and JKM benchmarks rising sharply in early 2026.

• The company maintains a cautious outlook due to the unpredictable nature of global shipping and energy markets.