Time-charter contract for first FLEX LNG newbuilding

By Baird Maritime - January 2, 2018.

FLEX LNG has entered into a time-charter contract for its LNG carrier newbuilding, Flex Endeavour to German-based Uniper Global Commodities.

Flex Endeavour is a 173,400-cubic-metre cargo capacity LNG carrier equipped with a main engine gas induction (MEGI) propulsion system.

The vessel is currently under construction at Daiwoo Shipbuilding and Marine Engineering (DSME), South Korea.

The 15-to-18-month time charter begins immediately upon the delivery from the shipyard later this month.

Chief Executive Officer Jonathan Cook said it was the first of six MEGI newbuildings under construction at DSME and Samsung Heavy Industries in South Korea for delivery in 2018 and 2019.

In addition, the company advised it had fulfilled the closing conditions for the term loan facility for the first three LNGC newbuildings and will utilise it for the deliveries of these vessels.