Flex LNG will have the Flex Constellation available for hire by the end of Q1 2025 following a decision by its current charterer, a major Asian LNG importer, to forgo the extension option. The vessel, built in 2019 with a capacity of 173,400 cubic meters, has been under a charter since May 2023. Brokers previously reported the vessel was fixed to JERA Global Markets.
Initially, the deal included a 312-day charter with a one-year extension option, which would have kept the ship under contract until Q1 2026. Flex LNG, led by Øystein Kalleklev and backed by John Fredriksen, operates a fleet of 13 ships with strong charter coverage and long-term contract backlog.
The company plans to market the Flex Constellation for both short- and long-term contracts after its redelivery. Currently, Flex LNG has one vessel, Flex Artemis, in the spot market, with spot rates having dropped significantly from last year.