Flex LNG inks another charter deal

Norwegian shipping firm Flex LNG said Monday it would charter one of its carriers to a “leading trading house.”

The 2019-built 173,400-cbm Flex Constellation will go on a three-year charter to the trading house, according to the firm controlled by billionaire John Fredriksen.

In addition, there is an option to extend the period by up to three years bringing the total period to six years, the LNG shipper said.

The new deal comes just weeks after Flex LNG chartered four carriers to a unit of US exporter Cheniere.

Flex LNG’s chief Øystein Kalleklev said the new charter “is very much in line with our
communicated strategy of securing attractive term charters to improve our
earnings visibility.”

“With the improved freight market for LNG we think the timing now is right to execute on this strategy,” he said.

The shipping firm currently has 12 LNG carriers on the water and expects to take delivery of the 13th vessel later this month.

All existing Flex LNG ships have a cargo capacity of about 173,400 to 174,000 cubic meters and feature dual-fuel two-stroke propulsion including MEGI and X-DF.

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