Flex LNG increases carrier fleet with newbuilds
31st May 2021
Flex LNG Ltd took delivery of its 11th and 12th newbuild LNG carriers in January 2021.
Flex Freedom, built by DSME, and Flex Volunteer, built by HHI, both immediately began short-term time charters at attractive rates. I
n April 2021, the company entered into time charter party agreements with Cheniere Marketing International for four LNG carriers with the option for a fifth.
The firm charter period for each of the four initial LNG carriers is between three and three and a half years, with an option to extend each by up to two years.
Under the agreements, it will use the newbuild Flex Vigilant, which was delivered from HHI to Cheniere in May.
In addition, Flex LNG will deliver two existing LNG carriers to Cheniere during the third quarter of 2021, and a third during the third quarter of 2022.
Cheniere has the option to add a fifth LNG carrier during the third quarter of 2022.
On 17 May 2021 the company signed a three-year firm time charter agreement with an unnamed international trading house for the Flex Constellation.
The firm period ends in 2Q 2024, but the charterer has a three-year extension option.
