Shipping: Norway's Flex Lng To Purchase V Novel Lng Tankers At $180 1000000 Per (Flng:No)

When yous run into headlines similar Sept. 28's "Shipping: Price To Ship LNG Spiked together with Will Remain High Through 2019" yous know the game is afoot.

Lifted inwards toto from World Maritime News:

Flex LNG to Buy Five LNG Newbuildings

Oslo-listed transportation possessor together with operator Flex LNG is looking to begin a batch of five LNG newbuildings from affiliates of Geveran Trading, the company’s largest shareholder.

The vessels include 3 high-end MEGI LNG carriers currently nether structure at Daewoo Shipbuilding together with Marine Engineering (DSME) alongside scheduled delivery inwards 2020 together with 2 high-end X-DF LNG carriers which are beingness built at Hyundai Samho Heavy Industries (HHI) alongside scheduled delivery inwards 2021.

Flex LNG informed that it is paying USD 180 1 K 1000 per vessel on a delivered basis, including supervision costs, addition USD half-dozen 1 K 1000 for each of the DSME vessels for the add-on of amount reliquifaction systems.

In connectedness alongside the transaction, the fellowship volition launch a soul placement of novel ordinary shares for gross proceeds of USD 300 million. Net proceeds from the placement volition hold upward used to partially fund installments on the acquired transportation together with for working upper-case missive of the alphabet together with full general corporate purposes.

The vessel acquisitions are dependent champaign to the soul placement beingness completed, Flex LNG said.

World Maritime News homepage

The soul placement was fully subscribed. 

See also:
Shipping/Natural Gas: "China Blinks First In LNG Face-Off With U.S."