LNG Shipping musings - Apr 2024

Two LNG shipping ideas
#2 Flex LNG (FLNG) YTD down ~13% (slightly less with the div payout)
#9 Cool Co (CLCO) YTD down ~17% (slightly less with the div payout)
in my top 10 stock holdings.

Does this item impact shipping? Five days without production from 2nd largest US LNG exporter

I would argue that it should not, as Q2 is generally a slower quarter in the cycle.
For FLNG, the one vessel rolling off charter in the current time-frame should not be a big deal. The vessel was heading to its first 5-year maintenance period, so it wasn’t going to be operational. The other 12 vessels in the FLNG fleet have existing charters.

Speaking of charters, more confirmed charter backlog for FLNG last week. Out in future years.

CLCO does not have the same level of charter visibility as FLNG. But, minus the newbuild vessels, CLCO does have good near term coverage.

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