Today 9 January 2018 at 09:31 local Korean time, 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.”
For further information, please contact:
Øystein M. Kalleklev, Chief Financial Officer
Phone: +47 90 88 56 65
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.
Forward Looking Statements
This press release contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates, sometimes identified by the words “believes”, “expects”, “intends”, “plans”, “estimates” and similar expressions. The forward-looking statements contained in this release, including assumptions, opinions and views of the Company or cited from third-party sources, are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. The Company does not provide any assurance that that the assumptions underlying such forward-looking statements are free from errors, nor does the Company accepts any responsibility for the future accuracy of the opinions expressed in the presentation or the actual occurrence of the forecasted developments. No obligations are assumed to update any forward-looking statements or to conform to these forward-looking statements to actual results.