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Flex LNG inks LNG newbuild long term charter with Gunvor

Flex LNG has entered into a long term time-charter agreement with global commodity trader Gunvor for a newbuild LNG carrier.

Clearlake Shipping, subsidiary of Gunvor, will charter the vessel, to be named Flex Artemis, for up to 10 years where the first five years are firm.

Commencement of the time-charter is scheduled for August 2020 when the vessel is expected to be delivered from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).

The 173,400-cu m LNG carrier will be equipped with a modern high pressure two-stroke slow speed propulsion system, as well as a Full Reliquifaction System (FRS) to enable higher level of operational flexibility.

Øystein M. Kalleklev, ceo of Flex LNG Management, commented: “We are confident that our vessel will be very suitable for their trade given the very high technical specification of this vessel. This charter is also in line with our strategy of delivering incremental higher level of backlog as we are growing our fleet of vessels on the water.”