Bermuda-based LNG carrier owner Flex LNG has entered into a new time charter with Spanish electric utility company Endesa, part of Enel Group, for the vessel Flex Ranger.

As informed, the firm period under the new time charter is twelve months and will commence in direct continuation of an existing time charter with Enel which expires on or about June 2020.

Endesa will also have the option to extend the time charter by an additional twelve months subsequent to the firm period maturing on or about June 2021.

“We are pleased to announce that Endesa has elected to time charter Flex Ranger in direct continuation of our existing time charter with Enel when this expires in June next year,” Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS, commented.

“This charter party adds additional revenue backlog to a first class charter in line with our communicated strategy.”

Built at South Korean shipyard Samsung Heavy Industries (SHI) in 2018, the 174,000 cbm Flex Ranger flies the flag of the Marshall Islands.

Including the Flex Ranger, Flex LNG’s fleet comprises six LNG carriers on the water and seven newbuilds scheduled for delivery in 2020 and 2021.