Flex LNG - Time Charter for Flex Endeavour extended to 2032

Hamilton, Bermuda
April 12, 2024

Flex LNG, Ltd. (“Flex LNG” or the “Company”) (OSE/NYSE: FLNG) is pleased to announce that the charterer of Flex Endeavour has exercised an option to extend the firm period of the Time Charter by 500 days, from the third quarter 2030 to the first quarter of 2032. As announced on November 23, 2022, in connection with the extension of three ships, the charterer has one further option to extend the Time Charter period by one additional year to 2033.

Øystein Kalleklev, CEO of Flex LNG Management AS, commented:

“We are glad to share another contract extension, bringing the total to three so far this year and evidencing the fact that our charterers like the service we provide. We have so far added about 4.4 years of additional firm backlog while we have been consuming about 3.6 years of backlog, thus putting us at a slight surplus in terms of contract backlog. With this extension, our total firm backlog stands at a solid 51 years, which may increase to 69 years in the event charterers are utilizing all their extension options.”  

About FLEX LNG

Flex LNG is a shipping company focused on the growing market for Liquefied Natural Gas (LNG). Our fleet consists of thirteen LNG carriers on the water and all of our vessels are state-of-the-art ships with the latest generation two-stroke propulsion (MEGI and X-DF). These modern ships offer significant improvements in fuel efficiency and thus also carbon footprint compared to the older steam and four-stroke propelled ships. We have built up a significant contract backlog, having 11 of our 13 vessels on long term fixed rate charter contracts and one vessel on variable hire time charter. Flex LNG is listed both on the New York Stock Exchange as well as Oslo Stock Exchange under the ticker FLNG.