A trio of international liquefied natural gas (LNG) shippers saw improved financials in the first quarter as demand grew and prices strengthened.

LNG shippers

Flex LNG Ltd., Teekay LNG Partners LP and Golar LNG Ltd. reported stronger demand for time charters as spot prices in Asia shot up in January and the cooldown in February was short-lived, Flex CEO Oystein Kalleklev said.

“The market, however, quickly rebounded by the end of March,” Kalleklev said during the recent earnings call. “And the quick turnaround also increased the appetite by charterers for term deals. Nobody really wants to be short shipping after the experience from last winter.”

New Charters

In April, Flex announced an agreement with Cheniere Energy Inc. to charter four vessels long term, with an option for a...