Norway-based shipowner Flex LNG announced that it has entered into a new time charter with the Spanish utility 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, said a press release from the liquefied natural gas (LNG) transportation company.
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, said: “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.”
Flex LNG fleet consists of six LNG carriers on the water and seven newbuildings for delivery in 2020/21.