Flex LNG Management AS confirmed that Marius Foss will serve as its permanent chief executive officer, a role he has held in an interim capacity since 2023. Foss brings more than 35 years of experience in the LNG shipping sector, having held senior positions at Frontline, Golar LNG and Avance Gas before joining Flex LNG in 2018. His tenure has been marked by a focus on commercial strategy and fleet expansion, positioning the company to capture opportunities in a rebalancing market.
The company operates a modern fleet of thirteen LNG carriers equipped with fuel‑efficient MEGI and X‑DF propulsion systems. Flex LNG’s contract backlog—spanning 53 to 64 years of firm charters and potentially extending to 80–98 years with options—provides a stable revenue stream that cushions the business against spot‑market volatility. The backlog’s depth reflects the company’s success in securing long‑term charters, a key competitive advantage in an industry where capacity is tightening and demand is accelerating.
Flex LNG has maintained a robust dividend policy, paying an annual dividend of $3.00 per share in 2025, which translates to a yield of roughly 11.6 % to 12.3 %. While the payout ratio is high, the company’s strong operating and EBITDA margins, coupled with a fortress balance sheet and ample liquidity, support continued shareholder returns. Management has emphasized that dividend sustainability will be monitored closely as the company invests in fleet upgrades and explores new charter opportunities.
The LNG shipping market is entering a “third wave” of growth, driven by new projects in Asia, the Middle East and the Americas. Flex LNG’s modern fleet and deep backlog position it to benefit from this tailwind, while the company remains vigilant about headwinds such as pricing pressure in the spot market and potential macro‑slowdowns. Under Foss’s leadership, the company aims to leverage its commercial expertise to secure additional long‑term contracts and to maintain operational efficiency amid rising fuel costs.
Marius Foss said, “I appreciate the board’s confidence in my appointment. With a modern fleet, a substantial contract backlog and a strong balance sheet, Flex LNG is well positioned to capitalize on the opportunities ahead.” Chairman Ola Lorentzon added, “Foss’s proven commercial capabilities and leadership during his interim tenure give us confidence that the company will continue to grow sustainably while delivering value to shareholders.”
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