Flex LNG fixes three ships on long-term charters

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.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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