Flex LNG is preparing to cut the steel for two newbuildings at Samsung Heavy Industries while it keeps an eye on other opportunities.
The John Fredriksen-controlled company said it is nearing completion of the plan approval for the two 174,000-cbm ships and steel cutting will commence in the second half of the year.
Flex LNG has paid $210m to cover the first instalments and another $213.8m will be paid upon delivery in January and April 2018.
The company added that it is also examining alternatives to add value to its brand, including consideration of opportunities across the LNG value chain.
“A number of commercial opportunities are currently being pursued,” Flex LNG said.
The LNG carrier owner booked a loss of $0.42m in the first quarter, compared to $0.55m a year earlier.
Its cash balance as of the end of March was $3.2m against $5.6m at the same period in 2015.
