LNG

Flex LNG, the Norwegian shipping company with a fleet of 13 carriers, said that Cheniere Marketing, a unit of the operator of the Sabine Pass and Corpus Christi export plants on the US Gulf Coast, has declared its option to employ a fifth LNG carrier under existing time charter agreements.

Cheniere and Flex LNG have also agreed that the 174,100 cubic metres capacity “Flex Volunteer” will be the fourth ship under the agreement and that this vessel will be delivered to Cheniere in mid-April 2022.

The delivery is ahead of the original schedule of the third quarter of 2022.

“The ‘Flex Volunteer’ charter with for a duration of 3.5 years has therefore been extended by about 2.5 months to facilitate early delivery of the ship to Cheniere,” said Flex LNG.

“The ‘Flex Aurora’ will be the fifth ship to be delivered to Cheniere, and she will commence her 3.5-year time charter during the third quarter of 2022 according to the original agreement,” added the company.

The fleet owner, which is listed on the New York Stock Exchange and the Oslo Børs in Norway and headquartered in Hamilton, Bermuda, noted that Cheniere took delivery  in 2021 of the “Flex Vigilant”, the “Flex Endeavour” and the “Flex Ranger”.

These ships were supplied under time charters with a minimum duration of between 3 and 3.8 years.

All existing Flex LNG ships are large LNG carriers with a cargo capacity of between 173,400 to 174,000 cubic metres and are fitted with efficient dual-fuel, two-stroke propulsion (ME-GI/XDF).

“This makes the ships particularly ideal for large parcel, long haul transportation with the industry's lowest carbon footprint and unit transportation cost,” said Flex LNG.

The company added that the time charter party agreements remained subject to certain closing conditions in connection with the delivery and acceptance of the LNG carriers to Cheniere.

Oct 7 (LNG) – One of the world’s main LNG shipping-focused conferences, Capital Link’s Annual New York Maritime Forum, is taking place on a virtual basis over two days on October 14-15. The conference will feature senior executives from 50 leading maritime companies, financiers and industry participants. The event is organized in partnership with DNB ASA, Norway’s largest bank and in cooperation with Nasdaq and the New York Stock Exchange. Registration for the event is complimentary.

   “The digital format of the event this year transforms NYMF into a truly global event,” said the organizers. The Forum has been held in New York City for the past 11 years and covers liquefied petroleum gas and LNG issues in the international shipping markets. Speakers next week include: Tony Lauritzen, Chief Executive of LNG fleet owner Dynagas LNG Partners, Oyestein Kalleklev, CEO of Flex LNG and Mark Kremin, President and CEO of Teekay LNG Partners.

Flex LNG, the growing LNG shipping company with four vessels operating and nine others on order and whose largest shareholder is a company controlled by Norwegian magnate John Fredriksen, reported wider first-quarter loss, though remained confident of a market turnaround.