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    Flex LNG Receives Korean-Built LNGC

Summary

The company is looking to capitalise on a surge in LNG demand in recent weeks, triggered by low temperatures.

by: Joe Murphy

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Flex LNG Receives Korean-Built LNGC

Bermuda-registered Flex LNG has taken delivery of its Flex Volunteer LNG carrier (LNGC) five weeks before it is due to starts work, it said on social media on January 20.

The vessel, built by South Korea's Hyundai Samho Heavy Industries yard, was due to join Flex LNG's fleet at the end of February. But Flex LNG opted to bring forward the delivery date because of strong market conditions. The company is looking to capitalise on a surge in LNG demand in recent weeks, triggered by low temperatures and a shipping shortage that have sent day-rates rocketing.

Flex Volunteer has a 174,000-m3 LNG storage capacity and is the company's third LNGC to be fitted with a low-pressure slow-speed two-stroke engine. The vessel will become Flex LNG's 12th ship on the water and the second to be delivered in 2021. Flex LNG received Flex Freedom on January 1 from South Korea's Daewoo Shipbuilding & Marine Engineering.

The company is expecting one more vessel this year, Flex Vigilant, in May.