Flex LNG expects 270 cargo cancellations this year
Owner of liquefied natural gas carriers says the market has lost about 20m tonnes in export volumes due to coronavirus this year. That translates to 270 cargo cancellations
The Oslo-based company, part of John Fredriksen’s Seatankers Group, said on an Arctic Securities webinar that it expected strengthening LNG shipping rates into 2021 as the lost volumes return as pent-up demand, combined with at least 10m tonnes in new export production. It is expecting its last two newbuildings to be delivered by May next year