Gunvor Bags Flex LNG Newbuild Long Term Charter

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Flex LNG have entered into a time-charter agreement with Clearlake Shipping Pte Ltd, a subsidiary of the Gunvor Group, reads a news on the company’s website.

Long term charter for Flex Artemis

The initial five-year charter period for Hull 2479 at DSME is firm but the agreement has scope to extend to 10 years.

The vessel, to be named Flex Artemis, is a 173,400 m3 LNG carrier fitted with a high pressure, two-stroke slow-speed propulsion system (ME-GI).

The vessel is also equipped with a Full Reliquifaction System (FRS), enabling a high degree of operational flexibility given the low boil-off rate of 0.035% per day.

Delivery of advanced LNG vessels

Chief Executive Officer of Flex LNG Management AS, Øystein M. Kalleklev said “We are very pleased to enter into this long-term charter with a top-tier customer like Gunvor.”

He added, “We are confident that our vessel will be very suitable for their trade given the very high technical specification of this vessel.”

He also said, This charter is also in line with our strategy of delivering incrementally higher level of backlog as we are growing our fleet of vessels on the water.”

Co-director of LNG at Gunvor Kalpesh Patel said “This charter builds on our already deep and successful relationship and we look forward to taking delivery of one of the most technologically advanced LNG vessels in the world to serve our long term portfolio.”

Investment in cleaner natural gas

Commencement of the time charter will be in connection with the delivery of the ship, which is scheduled for August 2020.

Last year, Gunvor said it wanted to take the lead in energy transition by investing in cleaner natural gas. Gunvor also agreed a ten-year charter for Exmar’s 25,000 m3 barge-based floating storage and regasification unit (FSRU) last year.

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Source: Gunvor group

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