Flex LNG denies raising new equity

September 8, 2017

Flex Enterprise, a 173,400 cbm LNG vessel currently under construction at the Daewoo Shipbuilding & Marine Engineering shipyard in South Korea (Image courtesy of Flex LNG)

Oslo-listed Flex LNG, the company controlled by billionaire John Fredriksen and an emerging player in the LNG shipping business, denied a media report that it is planning to raise new equity.

Norwegian business newspaper Finansavisen on Friday reported that Flex LNG is in the process of raising new equity.

“This is incorrect. Flex has not, and does not currently consider, raising new equity,” the company said in a statement.

Flex currently has six M-type, Electronically Controlled, Gas Injection (MEGI) LNG carriers with a capacity of about 173,400 cbm under construction at Samsung Heavy and Daewoo Shipbuilding and Marine Engineering scheduled for delivery in 2018 and 2019.

Worth mentioning, Flex also has in June this year signed a deal with US-based LNG terminal developer NextDecade under which Flex would provide a FSRU for the LNG import project at the Port of Cork in Ireland.