Flex LNG extends time-charters for three carriers with largest US LNG exporter Cheniere Energy
Flex LNG, the Norwegian shipping company with a fleet of 13 modern vessels, said it had extended the time-charters for three ships with Cheniere Energy, owner of the Sabine Pass and Corpus Christi exporting plants on the Gulf Coast, and meaning that Cheniere now has five Flex vessels chartered.
UK LNG deliveries
May 11 (LNGJ) - Three LNG carriers were heading for the UK this week with cargoes from the US and Peru as the UK National Balancing Point benchmark wholesale natural gas price hit a 10-month low at the equivalent of $18.00 per million British thermal units. The 177,000 cubic metres capacity “Marvel Heron” was berthing on May 11 at the UK Isle of Grain terminal in Kent with a cargo from Cameron LNG in Calcasieu Pass in Louisiana, shipping data showed.
The 174,100 cubic metres capacity carrier “Flex Volunteer” was then scheduled to deliver a cargo on May 13 to the UK South Hook terminal at the Port of Milford Haven from the Sabine Pass plant in Louisiana. A third shipment onboard the 167,400 cubic metres capacity “Methane Mickie Harper” was due to be discharged on May 14 at the UK Dragon terminal. The cargo was lifted on April 15 from the Pampa Melchorita plant on the Pacific Coast of Peru.
US Gulf Coast LNG exporter Cheniere brings forward Flex LNG ship charters on expected rise in volumes
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.
Fleet owner Flex LNG posts record profits while spot freight has ‘red-hot’ November and ‘ice-cold’ January
Flex LNG, the shipping company with a fleet of 13 carriers, achieved charter equivalent rates of almost $96,000 per day in the fourth quarter to help reach record revenues and net income.
