Flex LNG, the company controlled by billionaire John Fredriksen and an emerging player in the LNG shipping business snagged a charter deal for one of its liquefied natural carriers. 

Flex LNG said time-charter agreement has been signed with an international energy major for a period of 12 months commencing end of first quarter 2019.

The charterer also has certain extension options, the company said in a statement, noting that the time-charter rate is variable as a function of the overall market conditions.

Commenting on the deal, Flex LNG CEO Øystein Kalleklev, said, “this contract provides full utilization with a first class charterer as well as exposure to the development of freight rates for large LNG carriers which we have a positive view on.”  

Flex LNG now controls a fleet of 13 LNG carriers, including four vessels on the water and nine newbuildings.

Two of the newbuildings are scheduled for delivery in 2019, five in 2020 and the remaining two in 2021, the company said in its report late last month.