Wedoany.com Report on Mar 19th, Flex LNG Ltd. announced securing additional charter coverage for two liquefied natural gas carriers and confirmed that a third vessel will commence a 15-year contract in March 2026. The charterer exercised 730-day extension options for the Flex Resolute and Flex Courageous, covering the period from Q1 2027 to Q1 2029. This locks in these two vessels until Q1 2032, with optional periods of up to seven years remaining thereafter.

The latest extensions increase the company's fixed contract backlog to 53 years, which could rise to 74 years if remaining options are exercised. Flex LNG also confirmed that the Flex Constellation began its 15-year charter in March 2026 with a major Asian utility company and an asset-backed LNG trader, securing fixed contract coverage for that vessel at least until 2041.

CEO Marius Foss stated, "The extensions reflect the ongoing demand for reliable LNG transportation and confirm that Flex Constellation has entered its long-term employment." He added that the LNG market remains volatile, citing uncertainties around Middle East export capacity and conditions in the Strait of Hormuz, while noting that current spot conditions are supported by pricing dynamics encouraging long-haul trade.

Flex LNG Ltd. is a shipping company registered in Bermuda, specializing in liquefied natural gas transportation. The company operates a fleet of LNG carriers equipped with modern two-stroke propulsion systems, including MEGI and X-DF technologies, designed to enhance fuel efficiency and emission performance.