Flex LNG takes delivery of Flex Endeavour, its first LNGc newbuilding
Flex LNG successfully took delivery of its first LNG carrier newbuilding the Flex Endeavour. In connection with the delivery USD 105m of the secured term loan facility was paid out and a further USD 105m has been pre-positioned for the delivery of sister vessel Flex Enterprise which is scheduled for delivery on 11 January 2018.
Flex Endeavour is expected to commence its time charter with Uniper Global Commodities on or about 12 January 2018 following crew mobilization and completion of safety drills.
Jonathan Cook, Chief Executive Officer, commented: "We are pleased to finally take delivery of our first newbuilding and her sister vessel later this week. We are also looking forward to deliver Flex Endeavour to Uniper which is a first class charterer."
About FLEX LNG LTD
FLEX LNG aims to become a leading supplier of LNG Carriers and Floating Storage & Regasification Units ("FSRUs") by providing safe, reliable, and cost effective logistic solutions in the LNG shipping industry, utilizing only the newest and most environmentally friendly vessels.
FLEX LNG has six highly efficient MEGI LNG newbuildings with a capacity of 174,000 m3 under construction at industry-leading shipyards in South Korea for delivery in 2018 and 2019. MEGI propulsion will significantly reduce fuel consumption combined with minimizing boil-off by using the latest technologies.
Compared to TFDE vessels, reduction in fuel consumption alone is estimated at ~30%, giving a substantial incentive for charterers to switch to the new technology. The first two FLEX LNG newbuildings will be delivered from yard in January 2018. FLEX LNG is listed on the Oslo Stock Exchange under the ticker FLNG.