Oslo-Listed Flex Lng Claims The Throne Equally Largest Possessor Of Fifth Generation Lng Carriers

From World Maritime News:

Having raised USD 300 meg via a mortal placement of shares, Oslo-listed possessor of LNG carriers Flex LNG finalized the acquisition of 5 LNG newbuildings currently beingness built inwards South Korea.

The 5th generation LNG newbuildings contain iii MEGI LNG carriers under structure at Daewoo Shipbuilding in addition to Marine Engineering (DSME) alongside scheduled delivery inwards 2020 in addition to two  X-DF LNG carriers currently nether structure at Hyundai Samho Heavy Industries (HSHI) alongside scheduled delivery inwards 2021.

The LNG newbuildings were acquired from affiliates of Geveran Trading Co. Ltd., the company’s largest shareholder.

Flex LNG currently has 4 vessels on the H2O in addition to nine additional newbuildings nether construction, making it the largest possessor of 5th generation LNGCs.

“Flex LNG has quickly cash inwards one's chips the largest possessor of modern 5th generation LNG carriers alongside a fleet expansion from six to xiii vessels since nosotros presented our outset quarter results at terminate of May. Unlike the vast bulk of other LNG shipping companies, nosotros decided to strategically pursue shorter term utilization until the transportation marketplace showed signs of rebalancing,” Øystein M. Kalleklev, CEO/CFO, said.

The fleet build-up is inwards business alongside the anticipated increment inwards LNG production in addition to increased sailing distances due especially to U.S. in addition to Russian volumes likewise equally increased trading activity....MORE

Previously:
Shipping: Norway's Flex LNG to Buy Five New LNG Tankers at $180 Million Per (FLNG:NO)