HAMILTON, Bermuda, Aug. 14, 2024 /PRNewswire/ -- Flex LNG Ltd. ("Flex LNG" or the "Company") today announced its unaudited financial results for the six months ended June 30, 2024. Highlights: Vessel operating revenues of $84.7 million for the second quarter 2024, compared to $90.2 million for the first quarter 2024. Net income of $21.8 million and basic earnings per share of $0.41 for the second quarter 2024, compared to net income of $33.2 million and basic earnings per share of $0.62 for the first quarter 2024. Average Time Charter Equivalent ("TCE") rate of $72,385 per day for the second quarter 2024, compared to $76,539 per day for the first quarter 2024. Adjusted EBITDA of $63.2 million for the second quarter 2024, compared to $70.6 million for the first quarter 2024. Adjusted net income of $30.4 million for the second quarter 2024, compared to $37.9 million for the first quarter 2024. Adjusted basic earnings per share of $0.56 for the second quarter 2024, compared to $0.70 for the first quarter 2024. In April 2024 and May 2024, we successfully completed our scheduled drydocking for Flex Constellation and Flex Courageous, respectively, on-time and on-budget. In April 2024, the charterer of Flex Endeavour exercised an option to extend the time charter by 500 days from the Q3 2030 to Q1 2032. In May 2024, Flex Constellation commenced a time charter with a large Asian utility and asset backed LNG trader. The charter has a firm period ending at the end of Q1 2025 and the charterer has the option to extend by an additional one year to the end of Q1 2026. In July 2024, we received credit-approved term sheets for a six-year $270 million term and revolving credit facility. The refinancing will repay the full amount outstanding under the existing tranches of the $375 Million Facility, in respect of Flex Aurora and Flex Ranger. In July 2024, we also received credit-approved term sheets for a $160 million, ten-year sale and leaseback with an Asian-based lease provider for Flex Endeavour. Following the refinancing, the $375 Million Facility will be fully repaid. The Company declared a dividend for the second quarter 2024 of $0.75 per share. The dividend is payable on or about September 12, 2024 to shareholders, on record as of August 29, 2024. Øystein M. Kalleklev, CEO of Flex LNG Management AS, commented: "Flex LNG's second quarter came in as guided with revenues of $84.7 million, which was in line with our guidance of "close to $85 million". The second quarter is generally the weakest quarter of the year, and this was also the case this year with spot earnings bottoming out during the first half of the quarter in line with the normal seasonal pattern. Seasonally low spot rates affected the quarterly earnings for Flex Artemis, our only ship on variable hire linked to the spot market, as well as Flex Constellation, which traded spot for a short period during April and May before she commenced a 10-month fixed hire Time Charter in May. This new Time Charter is this fixed until end of first quarter 2025 with the charterer having an option to extend her ...