The Olso-listed shipper, whose shares jumped 11 percent on a bullish outlook and after it swung to a third quarter profit after a loss in the prior quarter, has four liquefied natural gas carriers (LNGC) on the water and nine under construction for delivery in the period 2019 to 2021.

Driven by nearly 50 percent year-on-year growth imports to China in the third quarter, LNGC rates have spiked to a new all time high.

"Rates have more than doubled and are now hovering around $200,000 per day for modern fifth generation tonnage," CEO Oeystein M. Kalleklev said during a call on the firm's results.

"We expect the LNG market to be tight in the years to come, there are a lot of LNG entering the market the next years," he said.

Kalleklev said the four vessels on the water were sold out for the fourth quarter and revenues were expected to increase to $35 million from $19 million in the third quarter.

"Rates on our vessels in the spot market have risen from $50,000 in the third quarter to $130,000 in the fourth quarter," Kalleklev said, this compared with a cash break even of $50,000 per day.

"We are very bullish, we are in an early phase of a recovery after four challenging years," he said.

New volumes from Australia, Qatar and North America will support supply, while South and South-east Asia will drive demand.

Flex LNG reported a third quarter net profit of $1.2 million from a loss of $2.9 million in the second quarter.