Bermuda-based Flex LNG Ltd has agreed a new time charter deal with a ‘supermajor’ with a minimum firm period of two years for its 2020-built vessel Flex Aurora.
The New York-listed company said the charterer will have the option to extend the contract with additional 2+2+2 years i.e. total contract length is potentially up to eight years.
If all options are declared, the vessel will be committed until 2034. The 174,000 cbm LNG carrier was redelivered from its previous 3.5-years charter in the first half of March 2026 and the vessel has been successful in finding new employment with prompt delivery, according to Flex LNG.
After the announcement, Flex LNG’s total contract backlog is minimum 55 years, which may increase to 82 years if the charterers exercise their options.
Marius Foss, chief executive officer of Flex LNG Management AS, commented: “We are pleased to announce a new time charter contract for Flex Aurora, capitalizing on the firm momentum in the freight market. This new minimum two-year firm contract adds further contract backlog, and it may be extended by up to an additional six years at the charterer’s option, reflecting continued recognition of our safe and reliable operations.
“We believe there are currently favourable dynamics in the LNG shipping spot market, and with the commencement of this minimum two-year contract for Flex Aurora, we will have two vessels trading in what is presently a firm spot market. At the same time, we see that energy markets remain highly volatile, and conditions may change rapidly.”
The company expects the new contract for Flex Aurora, combined with its remaining spot exposure, to contribute positively to earnings in the second quarter of 2026.
Given the continued uncertainty and volatility in the LNG shipping and broader energy markets, the company said it is closely monitoring market developments.
Currently, Flex LNG’s fleet consists of thirteen LNG carriers on the water.
