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Wednesday, May 22, 2024

Time Charter for Flex Endeavour Extended to 2032

Maritime Activity Reports, Inc.

April 12, 2024

Flex Endeavour (Photo: Flex LNG)

Flex Endeavour (Photo: Flex LNG)

Flex LNG on Friday announce that the charterer of its liquefied natural gas (LNG) carrier Flex Endeavour has exercised an option to extend the firm period of the time charter by 500 days, from the third quarter 2030 to the first quarter of 2032. As announced on November 23, 2022, in connection with the extension of three ships, the charterer has one further option to extend the time charter period by one additional year to 2033.

Øystein Kalleklev, CEO of Flex LNG Management AS, said, “We are glad to share another contract extension, bringing the total to three so far this year and evidencing the fact that our charterers like the service we provide. We have so far added about 4.4 years of additional firm backlog while we have been consuming about 3.6 years of backlog, thus putting us at a slight surplus in terms of contract backlog. With this extension, our total firm backlog stands at a solid 51 years, which may increase to 69 years in the event charterers are utilizing all their extension options.”  

The 173,400-cubic-meter-capacity Flex Endeavour was built by South Korea's Hanwha Ocean (formerly known as Daewoo Shipbuilding & Marine Engineering) in 2018.

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