Hamilton-based Flex LNG shipowner has won an extension for the charter of its 173,400 cbm LNG carrier Flex Courageous.
The shipowner, which has thirteen LNG carriers on the water, has received notice that the charterer of Flex Courageous, a supermajor, has exercised its first extension option.
The Oslo and New York-listed company said Flex Courageous was fixed on a three-year time charter on November 1, 2021, together with Flex Resolute which was also recently extended by two years until 2027.
The commencement of the time charter for the 2019-built Flex Courageous was February 2022.
In accordance with the charter deal, the charterer has the option to extend the period by two consecutive two year periods.
Following this first option declaration, Flex Courageous will be firm until first quarter of 2027.
The charterer will then have a final option to extend the charter by another two years until 2029.
Øystein Kalleklev, chief executive of Flex LNG Management AS, said: “We are pleased that the charterer of Flex Courageous has decided to extend the Time Charter in line with what was recently done for Flex Resolute. This means that earliest redelivery for the ship is 2027 where the charterer has a further option to extend her until 2029.”
“Flex LNG has approximately 94% charter coverage for the remaining part of 2024, so we remain well positioned with only one ship, Flex Constellation, coming open during the second quarter which is usually when the freight market starts to tighten again after the seasonal adjustment coming out of the winter,” he added.
To remind, the shipowner has received notice that the charterer of 173,400 cbm LNG carrier Flex Resolute has exercised its first extension option.
The ship is on a fixed hire contract until at least first quarter of 2027 and the charterer will then have a final option to extend the deal by another two years until 2029.
