Flex LNG Secures New Multi-Year Charter for Flex Aurora with Supermajor

summarizeSummary

Flex LNG announced a new minimum two-year time charter agreement for its vessel Flex Aurora with a Supermajor, with options to extend the contract up to eight years, further strengthening its contract backlog.

check_boxKey Events

• New Charter Agreement for Flex Aurora

  Flex LNG has secured a new time charter agreement for its 2020-built LNG carrier, Flex Aurora, which was recently redelivered from a previous charter.

• Long-Term Contract with Supermajor

  The new contract is with a 'Supermajor' for a minimum firm period of two years, with options for the charterer to extend for an additional 2+2+2 years, potentially committing the vessel until 2034.

• Increased Contract Backlog

  Following this agreement, Flex LNG's total minimum contract backlog has increased to 55 years, with a potential to reach 82 years if all options are exercised.

• Positive Impact on Q2 Earnings

  The new contract, combined with the company's remaining spot exposure, is expected to contribute positively to earnings in the second quarter of 2026.

auto_awesomeAnalysis

Flex LNG has successfully secured a new time charter agreement for its vessel, Flex Aurora, with a major energy company. This contract provides a minimum of two years of firm employment, with options that could extend it up to eight years, significantly enhancing the company's revenue visibility and contract backlog. This follows a recent announcement of contract extensions for other vessels, indicating strong demand for Flex LNG's modern fleet and a positive market environment for LNG shipping. The new charter is expected to contribute positively to second-quarter earnings, although the company noted that full-year guidance might be revised due to ongoing market volatility.