John Fredriksen-linked Flex LNG has finalized a sale-and-leaseback deal to fund one of its newbuildings.
Oslo-listed Flex says the transaction involving the 174,000 cbm Flex Rainbow was executed following its delivery from Samsung Heavy Industries.
The ship is the fourth in the Flex fleet to hit the water and has begun a six-month time charter with a European energy company. The deal contains options for three additional months.
Flex first revealed in late May it had credit approval for a leaseback deal involving the Flex Rainbow with an Asian leasing company.
Fredriksen companies have often used leaseback transactions. However, the Flex deal is unusual in that these deals often involve Fredriksen’s Ship Finance International on the other end.
The Norwegian tycoon’s appetite for the LNG business was shown last week with his private company Seatankers inking a newbuilding at DSME.
That unit is expected to end up in the Flex fleet. Calls to Flex seeking comment on today’s announcement were unanswered at the time of writing.
