Flex LNG Secures Long-Term Vessel Extensions, Contract Backlog

Flex LNG Ltd. has secured new long-term charter extensions for two LNG carriers while confirming the start of a major multi-year contract for another vessel, further strengthening its forward revenue visibility.

The company said a supermajor charterer has exercised a second extension option for the Flex Resolute and Flex Courageous, adding 730 days to each contract and extending their employment through the first quarter of 2029. Combined with previously agreed terms, both vessels are now fixed on firm contracts through at least 2032, with additional extension options that could keep them employed into the following decade.

Following the extensions, Flex LNG’s firm contract backlog has reached 53 years, with the potential to increase to 74 years if all options are exercised.

Separately, the company confirmed that the Flex Constellation has commenced its 15-year time charter in March 2026 with a major Asian utility and LNG trading company. The vessel is now secured on contract through at least 2041.

CEO Marius Foss said the extensions reflect continued confidence from charterers in the company’s operational performance and reliability.

Flex LNG also noted ongoing volatility in global energy markets, particularly tied to geopolitical tensions in the Middle East and uncertainty surrounding LNG exports from the Gulf region. While current spot market conditions remain firm, the company said market dynamics could shift quickly depending on developments in the region.

The latest contract activity underscores Flex LNG’s strategy of locking in long-term employment for its fleet while maintaining selective exposure to the spot market.