Flex LNG has signed a new time charter (TC) agreement for Flex Constellation, an advanced liquefied natural gas (LNG) carrier with a capacity of 173,000 cubic meters.
Under terms of the 15-year deal, Flex LNG will start the charter in the first half of 2026 with maturity in 2041. The TC also includes an extension option for the charterer until 2043.
Flex Constellation has a ME-GI two stroke propulsion and partial reliquefication system (PRS). The carrier is currently on a 10-year charter a large Asian utility and asset backend LNG trader until the end of the first quarter 2025.
Øystein Kalleklev, CEO of Flex LNG Management, said that the charter will further increase the company’s backlog and earning visibility with a charter rate for the new period in line with the existing charter rate for the vessel.
“Following this agreement, Flex LNG has in total 64 years of firm backlog, which may increase to 98 years in the event charterers utilise their extension options.”
Flex Constellation will be open for trading spot and/or short-term TC from the end of first quarter 2025 for a period of around a year before commencing the new 15-year TC begins.
gasworld Yearbook
The gasworld Yearbook is an essential annual publication for the industrial gas sector, compiling key news, reports, and trend analysis from the past year. It covers developments across CO2, helium, air gases, hydrogen, LNG, and specialty gases, featuring market trends, technological advancements, significant mergers and acquisitions, and interviews with industry leaders.
With 12 months of exposure, advertising in gasworld’s Yearbook will help cement your company alongside the most significant new developments, technologies and solutions of the industrial gas year.
Get in touch with our sales team today to learn more.
