Flex LNG owns 13 modern LNG carriers, renting them out like floating gas-trucking services to energy companies moving liquefied natural gas across oceans.
Money comes from chartering vessels, with gross margins around 52% and net margins near 29% — recurring contract revenue, not one-off sales.
Its newest-generation ships are more fuel-efficient than older steam-powered rivals like GasLog or Dynagas, but any competitor can order identical vessels from the same shipyards, so the edge is temporary.
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The discussion is a comparison of shipping stocks, highlighting $FLNG alongside others like $BWET, $FRO, and $INSW, with a focus on year-to-date performance.
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