Sixth Flex LNG carrier starts gas trials in South Korea

Flex LNG, a company controlled by billionaire John Fredriksen and an emerging player in the LNG shipping business, has started gas trials in South Korea on its Flex Courageous LNG carrier.

Flex LNG said via social media on Monday that the carrier would be the sixth LNG carrier in operation.

According to the company, scheduled delivery is set for the end of August, and the Flex Courageous is currently the only remaining uncommitted LNG carrier to be delivered in 2019.

The vessel will be the sixth LNG carrier in operation for Flex LNG with another seven LNG carriers set for delivery in the next two years, five of which will become available in 2020 and another two in 2021.

Flex Courageous is a 173,400 cbm large LNG carrier with MEGI two-stroke engines and partial reliquefaction system bringing the boil off rate to 0.075 percent.

It is worth reminding that the fifth LNG carrier, the Flex Constellation, was delivered to Flex LNG in early June, three weeks ahead of schedule.

In connection with the delivery, $125 million of a $250 million bank facility was utilized to finance Flex Constellation and while the remainder will be used to finance the Flex Courageous.