Flex LNG is ship shape for further growth beyond doubling its fledgling fleet by 2020, according to a maritime shipping analyst.
The John Fredriksen-backed owner of LNG carriers is "well positioned" for fleet expansion, given its $78m in cash, $270m in available credit and attractive financing for four newbuilds, said Seaport Global Securities analyst Magnus Fhyr.
"We believe Flex LNG is financially well positioned to fund its remaining newbuilding commitments while pursuing further fleet expansion opportunities," he wrote in a note to clients.
