FLNG - Flex LNG secures 24 years of contract backlog for three LNG carriers

Flex LNG (NYSE:FLNG) said on Wednesday that it enters into new Time Charter agreements subject to final documentation and customary closing conditions for Flex Rainbow, Flex Enterprise and Flex Amber. Flex LNG and the Charterer of Flex Enterprise and Flex Amber, a supermajor, have agreed to replace the existing variable Time Charters which are due October 2023 and March 2024 with new fixed hire Time Charters. The duration of each of the new Time Charters is seven years. The commencement of the new Time Charters will be in the third quarter of 2022 with expiry thus in third quarter of 2029. Additionally, Flex LNG and the Charterer of Flex Rainbow, a large global trading company, have agreed a new ten-year fixed rate Time Charter for Flex Rainbow which will commence in direct continuation of the existing Time Charter which expires in January 2023. The new Time Charter will thus expire

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Flex LNG secures 24 years of contract backlog for three LNG carriers