Flex nets LNG carrier charter extension

Norwegian shipping firm Flex LNG, the owner of 13 liquefied natural gas carriers, has secured a time charter extension for its vessel, Flex Courageous.

The shipping firm controlled by billionaire John Fredriksen said on Friday that the charterer of the 2019-built 173,400-cbm LNG carrier had exercised its first extension option.

Flex said the charter is a “super major”.

UK-based energy giant BP is the charterer of this vessel, as well as of the 2020-built 173,400-cbm LNG carrier, Flex Resolute, which recently secured a charter extension.

Flex Courageous was fixed on a three-year time charter on November 1, 2021, together with Flex Resolute, starting in February 2022.

Under the deal, the charterer had options to extend the period by up to four additional years in two-year periods.

Following this first option declaration, Flex Courageous will be firm until first quarter of 2027, according to Flex.

The charterer will then have a final option to extend the charter by another two years until 2029, it said.

CEO Øystein Kalleklev said Flex has about 94 percent charter coverage for the remaining part of 2024, “so we remain well positioned with only one ship, Flex Constellation, coming open during the second quarter which is usually when the freight market starts to tighten again after the seasonal adjustment coming out of the winter.”

Flex said in January that the 2019-built 173,400-cbm, Flex Constellation, will be available for charter later this year after a trading house decided not to utilize its extension option.

Most Popular

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

NextDecade, Bechtel agree $9 billion EPC deals for two Rio Grande LNG trains

US LNG firm NextDecade and compatriot Bechtel have finalized EPC contracts worth $9.09 billion for the construction of the fourth and fifth trains and related infrastructure at the Rio Grande LNG facility in Texas.

Atlantic LNG shipping rates jump to $49,750 per day

Atlantic spot LNG shipping rates rose to $49,750 per day this week, while European prices also jumped compared to the previous week.

More News Like This

Flex completes refinancing of one LNG carrier

Norwegian owner Flex LNG has completed the $175 million Jolco lease financing for its 173,400-cbm LNG carrier, Flex Courageous.

Flex LNG carrier available for charter later this year

Norwegian owner Flex LNG will have one LNG carrier available for charter later this year as the current charterer decided not to exercise its extension option.

Flex LNG’s CEO Kalleklev resigns

Øystein Kalleklev has resigned as Flex LNG's chief executive officer. The LNG shipping company has appointed its chief commercial officer, Marius Foss, as interim CEO.

Flex LNG plans Oslo delisting

Kalleklev said during Flex LNG's earnings call on Tuesday that the decision is driven by the high costs of...