Flex LNG agrees charter deal for its Flex Endeavour newbuild

Flex LNG, the company controlled by billionaire John Fredriksen and an emerging player in the LNG shipping business, signed a time charter deal with Uniper Global Commodities for its LNG newbuild Flex Endeavour. 

The vessel, currently under construction at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard, has the capacity to transport 173,400 cubic meters of the chilled fuel, and features a MEGI propulsion system.

Flex LNG said that the time-charter period is for 15 to 18 months commencing immediately upon delivery of the vessel from the South Korean shipyard in January 2018.

This charter formalizes the arrangement that was agreed for the extension of the chartered-in vessel from April 2018. This arrangement brings forward the delivery date to coincide with the delivery of the vessel in the first half of January 2018.

Flex LNG adds it has fulfilled the closing conditions for the term loan facility for the first three LNG carrier newbuildings and will use the loan facility in connection with the deliveries of these vessels.