FLEX LNG Orders Five LNG Carrier Newbuilds

Flex LNG, the shipping company controlled by billionaire John Fredriksen, is entering into a transaction for the acquisition of five 5th generation LNG newbuildings comprising three MEGI LNG carriers and two X-DF LNG carriers.

According to a release from the shipping company, that owns and operates LNG carriers, and floating storage and regasification units, the MEGI LNG carriers are currently under construction at Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) with scheduled delivery in 2020.

The X-DF LNG carriers are currently under construction at Hyundai Samho Heavy Industries Co., Ltd. (HHI) with scheduled delivery in 2021, from affiliates of Geveran Trading, the Company’s largest shareholder.

The vessels will be acquired at a purchase price of $180 million per vessel on a delivered basis, including supervision costs, plus $6 million for each of the DSME Vessels for the addition of Full Reliquifaction Systems.