Flex LNG, the liquefied natural gas (LNG) shipping company backed by Norwegian shipowner John Fredriksen, has extended its time charter for the LNG carrier Flex Endeavour to 2032.
The time charter of the Flex Endeavour has been extended by 500 days from the third quarter of 2030 to the first quarter of 2032 under the latest charter extension. The “Flex Endeavour” was initially chartered by Cheniere Marketing International (CMI) along with two other LNG carriers, the “Flex Vigilant” and the “Flex Ranger”.
So far this year, Flex LNG has signed three charter extensions for its LNG carriers “Flex Courageous” and “Flex Resolute”, all of which are fixed for a period of approximately 4.4 years until the first quarter of 2027. The three vessels add a total of approximately 4.4 years of additional fixed backlog contracts.
Flex LNG has completed approximately 3.6 years of backlog this year, which means that the company has a slight surplus in backlog.With this lease contract extension, Flex LNG will have a total contract backlog of 51 years, which could increase to 69 years if all the extension options come into effect.
The LNG carrier “Flex Endeavour” was built in 2018 by Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering). The vessel has a cargo tank capacity of 173,400 m3 and is powered by two-stroke, low-speed propulsion, M-type, electronically controlled, gas injection (MEGI) engines. “Flex Endeavour” is one of 13 units in Flex LNG’s fleet, of which 11 are under long-term fixed charters and one is under a variable time charter.