Flex LNG Enters Into Time Charter Party Deal

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Flex LNG has secured a prompt time-charter deal for its LNG carrier Flex Constellation, says a press release published on their website.

The time charter agreement

The time charter agreement has a minimum firm period of three years on a prompt basis.

Flex LNG noted the deal with an unnamed trading house has the option to be extended for additional three years bringing the total up to six years.

About the vessel

Flex Constellation has the capacity to transport up to 173,400 cubic meters of chilled fuel.

The vessel, delivered from DSME to Flex LNG in 2019, is fitted with MEGI
propulsion system and partial reliquefaction system (PRS).

Flex LNG CEO’s comment

Commenting on the agreement, Øystein M Kalleklev, chief executive officer of Flex LNG Management, said, “This is 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.”

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Source: Flex LNG

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