This is the first extension option for the vessel which, the company said, was contracted to an unnamed “supermajor”. According to data provided by VesselsValue, the Flex Courageous is chartered by energy giant BP.
The LNG carrier was initially fixed on a three-year time charter in November 2021 together with Flex Resolute which was also recently extended by two years until 2027. The start of the time charter for the vessel was February 2022.
Under the time charter, BP has the option to extend the period by two consecutive two-year periods. Following this first option declaration, the vessel will be firm until the first quarter of 2027. The charterer will then have a final option to extend the time charter by another two years until 2029.
The company has 13 LNG carriers in its fleet which have a combined 51 years of minimum charter backlog with a potential to grow to 71 years if the charterers exercise all their extension options.
“Flex LNG has approx. 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,” said Øystein Kalleklev, CEO of Flex LNG Management.
