HAMILTON, Bermuda – Flex LNG Ltd. took delivery of its eleventh and twelfth newbuild LNG carriers in January, the company revealed in its latest results statement.
The Flex Freedom, built by DSME, and the Flex Volunteer, built by HHI, both immediately began short-term time charters at attractive rates.
In 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 will be delivered from HHI to Cheniere this month. In addition, Flex LNG will deliver two existing LNG carriers to Cheniere during 3Q 2021, and a third during 3Q 2022. Cheniere has the option to add a fifth LNG carrier during 3Q 2022.
On May 17, 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.
On May 20, 2021, the company signed a fixed rate time charter agreement with an undisclosed LNG portfolio player for a minimum firm period of either three or five years for the Flex Freedom. The charter will start in 2Q 2022 in direct continuation of its existing time charter. The charterer will declare the firm period in 3Q 2021, and it has a two-year extension option.
Also, the company has appointed Knut Traaholt as CFO. He succeeds Harald Gurvin.