Flex LNG, Cheniere extend charters for three LNGCs

Norway-based shipping firm Flex LNG on November 23 announced an extension of the time charter agreements with US-based Cheniere for three LNG carriers (LNGCs).

Prior to this agreement, the three ships - Flex Endeavour, Flex Ranger and Flex Vigilant - have about six years in aggregate of the remaining firm charter period. The new agreement extends the charter periods for up to an additional 19 years in aggregate.

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Cheniere Marketing International (CMI), a unit of Cheniere, will continue to charter these three ships for an aggregate period of up to 25 years with a minimum period of around 20 years in aggregate.

In addition, there are about six and a half years of minimum backlog for Flex Volunteer and Flex Aurora with CMI with an additional four years of optional backlog for these two ships, Flex LNG said.