John Fredriksen’s Flex LNG has agreed long-term time charters for three liquefied natural gas (LNG) carriers, adding 24 years of new contract backlog.
The New York and Oslo-listed firm has sealed a deal with an undisclosed supermajor to replace the existing variable time charters of the 2018-built Flex Enterprise and 2020-built Flex Amber with new seven-year fixed hire time charters. Time charters will start in the third quarter of 2022.
In addition, Flex LNG has fixed the 2018-built Flex Rainbow to a large global trading company for ten years, commencing in direct continuation of the existing time charter which expires in January 2023.
Øystein Kalleklev, CEO of Flex LNG Management, which has a fleet of 13 LNG carriers, said the deal adds about $750m of fixed backlog and takes the company’s minimum backlog to 54 years with another 28 years of possible extension options.