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Foss answered a question during the company’s earnings call on Tuesday about whether the company is interested in ordering new vessels.
“I would love to add newbuildings to the Flex fleet,” Foss said.
The company’s current fleet of 13 LNG carriers was delivered between 2018 and 2021.
South Korea’s DSME, now Hanwha Ocean, HD Hyundai Heavy, and Samsung Heavy built these LNG carriers.
“At the time we did 13 speculative orders and have been able to fix them out on term business,” Foss said.
“Right now, we are exploring with the new and existing partners if somebody would like to join us to order with the contract attached, which I find is important to go forward if you’re going to order more,” he said.
“But ordering a newbuilding at the prices that we have talked speculatively is very difficult as long as the term market does not justify a newbuilding investment today,” he said.
Foss noted earlier in the call that the current newbuild prices are approximately $250 million.
Flex recently signed a $175 million sale and leaseback deal for its 173,400-cbm LNG carrier Flex Resolute, as well as a $180 million term loan facility for the 173,400-cbm Flex Constellation.
As of June 30, the company had cash and cash equivalents of $412.7 million.