John Fredriksen-backed Flex LNG has won a new time charter agreement with an undisclosed client for one of its LNG carriers.
The client, described only as a large Asian LNG importer, hired the 173,400 cu m LNG carrier Flex Constellation for 312 days.
The charter began on Monday, May 7, and will last until the end of the first quarter of 2025. The charterer can extend the charter by an additional one year, until the end of the first quarter of 2026.
The 2019-built LNG carrier was redelivered from a three-year time charter at the end of the first quarter of 2024. Subsequently, the vessel carried out a scheduled five-year special survey in drydock in Singapore. After the survey was completed, the vessel was engaged in the spot market until the start of the new time charter.
“We are pleased to announce our fourth contract so far this year. With this new time charter, we have added 6.2 years of firm backlog so far this year and have secured 100% charter coverage for the remainder of the year,” said Øystein Kalleklev, CEO of Flex LNG Management.
In total, the company has 51 years of firm backlog. This may increase to 70 years if all charterers utilise their extension options.
