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    Flex LNG lands time charter for LNGC


The charterer is a leading trading house.

by: Joseph Murphy

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Flex LNG lands time charter for LNGC

Bermuda-based Flex LNG has secured a time charter contract for its Flex Constellation LNG carrier for at least three years from a leading trading house, the vessel operator reported on May 17.

The contract includes a three-year extension option, Flex LNG said, without disclosing the identity of the charterer. The Flex Constellation has a 173,400-m3 storage capacity and was delivered to Flex LNG from South Korea's Daewoo Shipbuilding & Marine Engineering in 2019.

Flex LNG CEO Oystein Kalleklev said the new charter deal was "very much in line with our communicated strategy of securing attractive term charters to improve our earnings visibility."

"With the improved freight market for LNG, we think the timing now is right to execute on this strategy," he said.

Flex LNG in mid-April chartered out four of its LNGCs to US LNG exporter Cheniere.