Having raised USD 300 million via a private placement of shares, Oslo-listed owner of LNG carriers Flex LNG finalized the acquisition of five LNG newbuildings currently being built in South Korea.
The 5th generation LNG newbuildings comprise three MEGI LNG carriers under construction at Daewoo Shipbuilding and Marine Engineering (DSME) with scheduled delivery in 2020 and two X-DF LNG carriers currently under construction at Hyundai Samho Heavy Industries (HSHI) with scheduled delivery in 2021.Previously:
The LNG newbuildings were acquired from affiliates of Geveran Trading Co. Ltd., the company’s largest shareholder.
Flex LNG currently has four vessels on the water and nine additional newbuildings under construction, making it the largest owner of 5th generation LNGCs.
“Flex LNG has rapidly become the largest owner of modern fifth generation LNG carriers with a fleet expansion from six to 13 vessels since we presented our first quarter results at end of May. Unlike the vast majority of other LNG shipping companies, we decided to strategically pursue shorter term employment until the shipping market showed signs of rebalancing,” Øystein M. Kalleklev, CEO/CFO, said.
The fleet build-up is in line with the anticipated increase in LNG production and increased sailing distances due particularly to US and Russian volumes as well as increased trading activity....MORE
Shipping: Norway's Flex LNG to Buy Five New LNG Tankers at $180 Million Per (FLNG:NO)
