HAMILTON, Bermuda, May 8, 2024
/PRNewswire/ -- Flex LNG, Ltd. ("Flex LNG" or the "Company")
(OSE/NYSE: FLNG) is pleased to announce a new Time Charter
agreement with a large Asian LNG importer, for the vessel, Flex
Constellation. The Time Charter commenced on May 7 with a minimum period of 312 days i.e.
until end of first quarter of 2025. The charterer has the option to
extend the charter by an additional one-year period until end of
first quarter 2026.
Flex Constellation is a large 173,400 cbm LNG carrier delivered
from Hanwha Ocean in South Korea
to Flex LNG in June 2019. She is
equipped with modern two-stroke propulsion (MEGI) and Partial
Reliquification System (PRS) which enable the ship to reduce the
active boil-off rate to an attractive level of 0.075%.
Flex Constellation was redelivered from a three-year Time
Charter at end of first quarter this year. Subsequently, she
carried out her scheduled five-year special survey in drydock in
Singapore on schedule and budget.
Following this drydocking she has been engaged in the spot market
until commencement of the new Time Charter.
Øystein Kalleklev, CEO of Flex LNG Management AS, commented:
"We are pleased to announce our fourth contract so far this year.
Earlier this year we have announced two-year contract extensions
for both Flex Resolute and Flex Courageous from 2025 to 2027 as
well as a 500-days extension of Flex Endeavour from 2030 to 2032.
With this new Time Charter, we have added 6.2 years of firm backlog
so far this year and have secured 100 per cent charter coverage for
the remainder of the year. In total, we now have 51 years of firm
backlog which may increase to 70 years in the event the charterers
are utilizing all of their extension options."
Please find the updated contract overview attached.
For more information please contact:
Knut Traaholt, Chief Financial
Officer of Flex LNG Management AS
Telephone: +47 23 11 40 00
Email: IR@flexlng.com
About FLEX LNG
Flex LNG is a shipping company focused on the growing market for
Liquefied Natural Gas (LNG). Our fleet consists of thirteen LNG
carriers on the water and all of our vessels are state-of-the-art
ships with the latest generation two-stroke propulsion (MEGI and
X-DF). These modern ships offer significant improvements in fuel
efficiency and thus also carbon footprint compared to the older
steam and four-stroke propelled ships. Flex LNG is listed on the
New York Stock Exchange as well as Oslo Stock Exchange under the
ticker FLNG.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/flex-lng/r/flex-lng---new-time-charter-for-flex-constellation,c3975325
The following files are available for download:
https://mb.cision.com/Main/22886/3975325/2784546.pdf
|
Flex LNG - Contract
coverage 8 May 2024
|
View original
content:https://www.prnewswire.com/news-releases/flex-lng--new-time-charter-for-flex-constellation-302139318.html
SOURCE Flex LNG