FLEX LNG agrees time charter with Endesa
Hamilton, Bermuda
December 19, 2019
Flex LNG Ltd (Flex LNG or the Company) (OSE/NYSE:FLNG) today announce that it has entered into a new time charter with Endesa for the vessel Flex Ranger. Endesa is a leading company in the Spanish electricity sector and the second largest operator in the Portuguese market as well as a subsidiary of Enel Group. The firm period under the new time charter is 12 months and will commence in direct continuation of an existing time charter with Enel which expires on or about June 2020. Endesa will also have the option to extend the time charter by an additional 12 months subsequent to the firm period maturing on or about June 2021.
Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS, commented:
"We are pleased to announce that Endesa has elected to time charter Flex Ranger in direct continuation of our existing time charter with Enel when this expires in June next year. This charter party adds additional revenue backlog to a first class charter in line with our communicated strategy."
For further information, please contact:
Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS
Telephone: +47 23 11 40 00
E-Mail: IR@flexlng.com
About FLEX LNG LTD
Flex LNG is shipping company focused on the growing market for Liquefied Natural Gas (LNG). Our fleet consists of six LNG carriers on the water and seven newbuildings for delivery in 2020/21. All our vessels are state-of-the-art ships with the latest generation two-stroke propulsion (MEGI and X-DF). These modern ships offers significant improvements in fuel efficiency and thus also carbon footprint compared to the older steam and four-stroke propelled ships. Flex LNG is listed both on the New York Stock Exchange (NYSE) and Oslo Stock Exchange (OSE) under the ticker "FLNG".
Forward Looking Statements
This press release contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates, sometimes identified by the words "believes", "expects", "intends", "plans", "estimates" and similar expressions. The forward-looking statements contained in this release, including assumptions, opinions and views of the Company or cited from third-party sources, are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. The Company does not provide any assurance that that the assumptions underlying such forward-looking statements are free from errors, nor does the Company accepts any responsibility for the future accuracy of the opinions expressed in the presentation or the actual occurrence of the forecasted developments. No obligations are assumed to update any forward-looking statements or to conform to these forward-looking statements to actual results.
