Flex LNG takes delivery of its first newbuilding

Flex LNG, the company controlled by billionaire John Fredriksen and an emerging player in the LNG shipping business, has taken delivery of its first newbuilding, the Flex Endeavour.

The company said that in connection with the delivery, $105 million of the secured term loan facility was paid out and a further $105 million has been pre-positioned for the delivery of sister vessel Flex Enterprise which is scheduled for delivery on January 11.

Flex Endeavour is expected to commence its time charter with Uniper Global Commodities on or about  January 12, following crew mobilization and completion of safety drills.

The company agreed a time charter with Uniper at the end of last year, for a term of 15 to 18 months.

The vessel was built at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard and has the capacity to transport 173,400 cubic meters of the chilled fuel. It also features an M-type, Electronically Controlled, Gas Injection (MEGI) propulsion system.