FLEX LNG 15–18-month newbuild contract good or not ?
Sakset fra DNB oppdatering,
FLEX LNG 15–18-month newbuild contract FLEX LNG announced it has fixed its first LNG MEGI newbuild for 15–18 months ex. yard at what we understand to be around USD60k/day (we forecast USD58k/day). While in line with our estimate, the contract could be perceived as on the soft side given the strength of the spot market (USD82k/day), but ex. yard comes with a discount.
Employment secured on delivery. FLEX LNG announced after market close that it has entered into a 15–18-month timecharter contract for its first MEGI LNG newbuild with Uniper Global Commodities, commencing immediately upon delivery in January. We understand the rate is around USD60k/day. The contract is in line with the company’s announcement post Q3 that it was looking to fix for 6–18 months to leave the ship open by mid-2019, when it expects an even stronger market. Timecharter contract on yard delivery with a discount. As we wrote in our Shipping Daily on 15 December, FLEX LNG could choose between two charter strategies: 1) fix ex. yard, meaning it would generate earnings upon yard delivery with the charterer bunkering the ship, cooling the tanks and taking the first voyage: or 2) take delivery and make it ready for a spot voyage. Hence, fixing ex. yard at around USD60k/day means the actual charter rates for ships already sailing are somewhat higher due to the additional costs for the charterer taking the vessel straight from the shipyard and the discount the charterer usually requires for the maiden voyage.
Timecharter rate in line with our estimate. In our LNG sector report of 13 September, we estimated MEGI/XDF rates of USD59k/day in 2018 and USD75k/day in 2019, which adjusted for our 90% MEGI utilisation forecast for 2018 and 95% for 2019, would yield a timecharter equivalent rate of USD58k/day for the next 18 months. This is broadly in line with the rate agreed by FLEX LNG; therefore, we see this as broadly neutral financially. We have a BUY recommendation and NOK15.9 target price. FLEX LNG has been valued based on its NAV, which we calculate to be NOK10.8/share. We believe this is set to change with increased earnings visibility. One should expect FLEX to be valued based on earnings, like its peer Gaslog, which is trading at 1.8x its NAV of USD12/share. Our target price is based on 12x our end-2019e fully delivered run-rate EPS of NOK1.32.
BUY
FLEX LNG 15–18-month newbuild contract FLEX LNG announced it has fixed its first LNG MEGI newbuild for 15–18 months ex. yard at what we understand to be around USD60k/day (we forecast USD58k/day). While in line with our estimate, the contract could be perceived as on the soft side given the strength of the spot market (USD82k/day), but ex. yard comes with a discount.
Employment secured on delivery. FLEX LNG announced after market close that it has entered into a 15–18-month timecharter contract for its first MEGI LNG newbuild with Uniper Global Commodities, commencing immediately upon delivery in January. We understand the rate is around USD60k/day. The contract is in line with the company’s announcement post Q3 that it was looking to fix for 6–18 months to leave the ship open by mid-2019, when it expects an even stronger market. Timecharter contract on yard delivery with a discount. As we wrote in our Shipping Daily on 15 December, FLEX LNG could choose between two charter strategies: 1) fix ex. yard, meaning it would generate earnings upon yard delivery with the charterer bunkering the ship, cooling the tanks and taking the first voyage: or 2) take delivery and make it ready for a spot voyage. Hence, fixing ex. yard at around USD60k/day means the actual charter rates for ships already sailing are somewhat higher due to the additional costs for the charterer taking the vessel straight from the shipyard and the discount the charterer usually requires for the maiden voyage.
Timecharter rate in line with our estimate. In our LNG sector report of 13 September, we estimated MEGI/XDF rates of USD59k/day in 2018 and USD75k/day in 2019, which adjusted for our 90% MEGI utilisation forecast for 2018 and 95% for 2019, would yield a timecharter equivalent rate of USD58k/day for the next 18 months. This is broadly in line with the rate agreed by FLEX LNG; therefore, we see this as broadly neutral financially. We have a BUY recommendation and NOK15.9 target price. FLEX LNG has been valued based on its NAV, which we calculate to be NOK10.8/share. We believe this is set to change with increased earnings visibility. One should expect FLEX to be valued based on earnings, like its peer Gaslog, which is trading at 1.8x its NAV of USD12/share. Our target price is based on 12x our end-2019e fully delivered run-rate EPS of NOK1.32.
BUY
Redigert 20.01.2021 kl 07:14
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Blir spennende framover, alt ser meget lovende ut og inngangen , ja den blir bare bedre og bedre
Meget bra.
da kommer Myrsets doblings kandidat til å slå inn atter en gang;O))
da kommer Myrsets doblings kandidat til å slå inn atter en gang;O))
Hva er det som mangler aksjonærene i Flex da?
Om å gjøre å gi bort aksjene???
GUD HJELPE OG TRØSTE Å BÆRE For noen noldusser!!!!
Om å gjøre å gi bort aksjene???
GUD HJELPE OG TRØSTE Å BÆRE For noen noldusser!!!!
addyfred
01.02.2018 kl 10:07
9380
Jeg har fått kjøpt mange nye aksjer de siste par dagene, jeg klager ikke hvertfall på kursen! Trodde aldri jeg fikk kjøpe flere under 12, men når muligheten bød seg ble det litt ekstra aksjer og gitt :)
Man må ikke la seg distrahere av kursnedgangen: Flex er fortsatt et bunnsolid case og en perfekt eksponering til den kommende høykonjunktur i LNG shipping!
Man må ikke la seg distrahere av kursnedgangen: Flex er fortsatt et bunnsolid case og en perfekt eksponering til den kommende høykonjunktur i LNG shipping!
Ja nå må man bare kjøpe med begge hendene og for alt man har.
dustehuer som selger til dagens pris trenger ikke aksjer i det hele tatt, de skjønner lite og ingenting!!
dustehuer som selger til dagens pris trenger ikke aksjer i det hele tatt, de skjønner lite og ingenting!!
addyfred
01.02.2018 kl 10:20
9366
Mange nybygg kommer på vannet første halvår, men så vidt meg bekjent er brorparten av disse allerede fikset på lengre kontrakter.
Er nok dette som skaper usikkerheten.
Er nok dette som skaper usikkerheten.
Da er Enterprise kommet inn på ais igjen.
Passerer sydspissen av Sri Lanka nå.
Går med svært sakte fart, 1,1 knop, hva nå det måtte bety.
Passerer sydspissen av Sri Lanka nå.
Går med svært sakte fart, 1,1 knop, hva nå det måtte bety.
Sitter du BARE i taperaksjer Mannje ?
SS
SS
Volf
01.02.2018 kl 13:29
9167
Det betyr at den venter på ordre, det vil si hvor den skal laste,er dårlig med frakter på det frie markedet akkurat nå.
Skal den laste i P.G må ordren komme snart.
Skal den laste i P.G må ordren komme snart.
Sonatrach
01.02.2018 kl 14:06
9121
Dukket opp ledig laster i UAE, Rotterdam og Angola i ettermiddag. Enterprise har mulighet til å rekke hvilkensomhelst av disse.
USA lave gasslagre?
Da skal det gasses på?
Da skal det gasses på?
MostlyHarmless
07.02.2018 kl 12:17
8688
GasLog opp 2.67% igår, Flex siger videre ned. Prises nå under NAV (ref. DNBs beregninger). Flex Enterprise nærmer seg FUJAIRAH (Emiratene). Hadde vært kjekt med en godmelding.
Den som venter på noe godt! får seg en flott overraskelse etterhvert
Ser ut til å bli en spennede og informativ presentasjon den 27 Feb;O)
Her er det bare å kjøpe til dagens latterlige prising.,
Her er det bare å kjøpe til dagens latterlige prising.,
Volf
08.02.2018 kl 09:24
8381
Flex LNG invites to Investor Day 27 February 2018
In connection with the scheduled 2017 fourth quarter and full year presentation,
Flex LNG Ltd is pleased to invite investors, analysts, financiers and media to
take part in our Investor Day on Tuesday 27 February, 2018 at 12:30 CET.
Agenda for the Investor Day:
12:30 - Lunch, coffee and registration
13:00 - Fourth quarter earnings results and Investor Day presentation.
Presenters: Jonathan Cook (CEO) and Øystein M. Kalleklev (CFO)
14:00 - LNG shipping market outlook. Presenter: Gonzalo de Arteaga, senior
analyst LNG at Fearnleys
14:30 - Coffee break
14:45 - LNG carrier technology perspectives. Presenter: Johan Petter Tutturen,
VP Gas Carriers at DNV GL
15:15 - Q&A and round table discussion
15:45 - Adjournment
Venue for the event: Høyres Hus, Stortingsgata 20, 0161 Oslo, Norway.
In order to attend the event you may do one of the following:
1. Attend the physical event at Høyres Hus
Please e-mail your attendance to: ir@flexlng.com prior to Friday 23 February,
2018.
2. Attend Event by Webcast
On conference day, go to the follow link:
https://edge.media-server.com/m6/p/dt8hvmfm
to register in order to view the webcast starting 13:00 CET on Tuesday 27
February, 2018.
3. Attend Event by Conference Call
On conference day, call one of the following participant dial-in telephone
numbers:
International Dial-In/UK Local: +44 (0)330 336 9105
Norway Local: +47 2100 2610
USA Local: +1 646-828-8193
Conference ID for all participants is: 7727996
Participants will be asked for their full name & Conference ID. Q&A session will
be held at the end of the presentation / teleconference / webcast. Information
on how to submit questions will be given at the beginning of the session. Replay
details will be available at www.flexlng.com
In connection with the scheduled 2017 fourth quarter and full year presentation,
Flex LNG Ltd is pleased to invite investors, analysts, financiers and media to
take part in our Investor Day on Tuesday 27 February, 2018 at 12:30 CET.
Agenda for the Investor Day:
12:30 - Lunch, coffee and registration
13:00 - Fourth quarter earnings results and Investor Day presentation.
Presenters: Jonathan Cook (CEO) and Øystein M. Kalleklev (CFO)
14:00 - LNG shipping market outlook. Presenter: Gonzalo de Arteaga, senior
analyst LNG at Fearnleys
14:30 - Coffee break
14:45 - LNG carrier technology perspectives. Presenter: Johan Petter Tutturen,
VP Gas Carriers at DNV GL
15:15 - Q&A and round table discussion
15:45 - Adjournment
Venue for the event: Høyres Hus, Stortingsgata 20, 0161 Oslo, Norway.
In order to attend the event you may do one of the following:
1. Attend the physical event at Høyres Hus
Please e-mail your attendance to: ir@flexlng.com prior to Friday 23 February,
2018.
2. Attend Event by Webcast
On conference day, go to the follow link:
https://edge.media-server.com/m6/p/dt8hvmfm
to register in order to view the webcast starting 13:00 CET on Tuesday 27
February, 2018.
3. Attend Event by Conference Call
On conference day, call one of the following participant dial-in telephone
numbers:
International Dial-In/UK Local: +44 (0)330 336 9105
Norway Local: +47 2100 2610
USA Local: +1 646-828-8193
Conference ID for all participants is: 7727996
Participants will be asked for their full name & Conference ID. Q&A session will
be held at the end of the presentation / teleconference / webcast. Information
on how to submit questions will be given at the beginning of the session. Replay
details will be available at www.flexlng.com
abbos
16.02.2018 kl 13:33
8068
Er risikoen for stor eller kan dette være en god inngang nå rundt 11 kr ?
Har satset mye på at Myrseth får rett her.... og at den skal dobles, alt annet er skuffende
tapogvinn
16.02.2018 kl 18:16
7917
Fra dagens GasLog-rapport;
“It may take time before the strength in the spot market observed this winter translates into the multi-year charter market as we are in the early stages of the recovery. However, we are observing increasing levels of tendering activity for charters ranging from multi-month to multi-year,” the company said.
In addition, some off-takers for LNG projects scheduled to begin production over the next two years have yet to secure their shipping requirements.
“We expect a number of vessels for these projects to be sourced from vessels currently operating in the short-term market, but also expect the coming increase in LNG supply to require additional LNG carriers beyond those currently on the water and in the orderbook,” it added.
“It may take time before the strength in the spot market observed this winter translates into the multi-year charter market as we are in the early stages of the recovery. However, we are observing increasing levels of tendering activity for charters ranging from multi-month to multi-year,” the company said.
In addition, some off-takers for LNG projects scheduled to begin production over the next two years have yet to secure their shipping requirements.
“We expect a number of vessels for these projects to be sourced from vessels currently operating in the short-term market, but also expect the coming increase in LNG supply to require additional LNG carriers beyond those currently on the water and in the orderbook,” it added.
tapogvinn
16.02.2018 kl 18:22
7915
Fra DNB i dag:
Flex LNG has invited to an investor day on 27 February (Q4 results due before market open the same day). We are in line with consensus for Q4e, but we believe investors will look to the coming months rather than Q4. We reiterate our BUY recommendation, have raised our target price to NOK16.2 (NOK15.9), and present a wish list for the investor day.
Flex LNG has invited to an investor day on 27 February (Q4 results due before market open the same day). We are in line with consensus for Q4e, but we believe investors will look to the coming months rather than Q4. We reiterate our BUY recommendation, have raised our target price to NOK16.2 (NOK15.9), and present a wish list for the investor day.
Hva i huleste er i veien med Ais`n?
Funker ikke mellom Algerie og Port Sudan.
Flex Enterprice har vært ute siden 11/2.
Funker ikke mellom Algerie og Port Sudan.
Flex Enterprice har vært ute siden 11/2.
Volf
17.02.2018 kl 12:19
7683
Slapp av de er på hemmelig oppdrag til Israel.Da pleier de a slå av AIS`n skal de til et araberland etterpå. Ingen kan gå offisielt fra Israel til et araberland uten å bli boikottet.
Stocktrader
17.02.2018 kl 12:39
7654
Flex Enterprise er visstnok sluttet til Engie, lastet på Idku (Egypt) for noen dager siden. Vet ikke rate eller periode.
Volf
19.02.2018 kl 14:10
7375
Kanskje noe for FLNG , vi får vente på mere informasjon.
NOBLE ENERGY OG DELEK DRILLING SIGNERT EKSPORTAVTALE FRA ISRAEL TIL EGYPT
Oslo (TDN Direkt): Noble Energy og Delek Drilling har signert en avtale på 15 milliarder dollar for eksport av gass fra Israels Tamar- og Leviathan-reservoarer til Egypts Dolphinus Holdings, ifølge en melding fra Delek Drilling mandag.
Noble og Delek planlegger å eksportere om lag 64 milliarder kubikkmeter naturgass fra reservoarene over en 10-års periode, opplyses det.
HH, finans@tdn.no
TDN Direkt, +47 21 95 60 70
NOBLE ENERGY OG DELEK DRILLING SIGNERT EKSPORTAVTALE FRA ISRAEL TIL EGYPT
Oslo (TDN Direkt): Noble Energy og Delek Drilling har signert en avtale på 15 milliarder dollar for eksport av gass fra Israels Tamar- og Leviathan-reservoarer til Egypts Dolphinus Holdings, ifølge en melding fra Delek Drilling mandag.
Noble og Delek planlegger å eksportere om lag 64 milliarder kubikkmeter naturgass fra reservoarene over en 10-års periode, opplyses det.
HH, finans@tdn.no
TDN Direkt, +47 21 95 60 70
er det hold i dette, så 3dobler den seg fort
kan bli manko på skip...., blir lidli spennende fram mot tallene neste uke... blir det en pangstart på 2018 !
Redigert 20.02.2018 kl 11:09
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Hvorfor blir denne holdt nede?
Bør jo gå dobbelt så mye som andre gass aksjer...
her har noen stor interesse for å holde den nede. tall slippes snart, da er dobling i vente.
Bør jo gå dobbelt så mye som andre gass aksjer...
her har noen stor interesse for å holde den nede. tall slippes snart, da er dobling i vente.
Hmmm. stadig kjøpsanbefalinger på denne, men skjer jo føkkings notting.
hvem er det som ikke har peiling? de som anbefaler eller de som selger?
Drttlei denne møkka aksjen.
hvem er det som ikke har peiling? de som anbefaler eller de som selger?
Drttlei denne møkka aksjen.
Skjer det ikke noe så gjør jeg det ja,.
makan til dritt aksje.
makan til dritt aksje.
jajja, sånn går no dagan....
men et lyst punkt er at de kåte selgerne har gitt seg...
er det da håp om oppgang??
men et lyst punkt er at de kåte selgerne har gitt seg...
er det da håp om oppgang??
tja...nå er vi imidlertid i minus igjen, der vi hører hjemme...
Her spilles det så godt de kan, opp til 11,55, så dumpes små aksjer ned igjen.
noen er febrilsk, kursen skal ikke opp for alt i værden.. noen shortser som er i skvis her...
noen er febrilsk, kursen skal ikke opp for alt i værden.. noen shortser som er i skvis her...
Fantastisk spennende aksje. opp 5 øre, ned 5 øre. kjedeligere enn å se maling tørke og like inntekts bringende.
møkka aksje!!!
møkka aksje!!!
Er det meningen du skal sitte å se på kursen?
Sett på en friends episode eller evt. les deg opp på fremtidsutsiktene til LNG markedet isteden.
Sett på en friends episode eller evt. les deg opp på fremtidsutsiktene til LNG markedet isteden.
Meningen er vel å se at du har satset rett, men slik dette er måned etter måned dag ut og dag inn så er det bare nitrist.
mange andre aksjer som er fart i, så vurderer utgang her. makan til tørket tomat har jeg sjeldent vert i.
mange andre aksjer som er fart i, så vurderer utgang her. makan til tørket tomat har jeg sjeldent vert i.
Volf
21.02.2018 kl 13:14
4859
mannjen ja det er nettopp det vi holder på med nå, trekker siste saften ut av de resterende tomatene så venter du med salget stort lengre så kommer vi oss aldri videre for du har jo annonsert at du skal selge så vi venter på billige aksjer.
Til lykke med salget.
Til lykke med salget.
really
21.02.2018 kl 13:24
4846
Aksjemarkedet er et ventespill. Vente på at andre skal forstå det du har forstått.