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Flex LNG sells two vessels in USD 420 million deal

John Fredriksen's Flex LNG is selling two vessels for USD 420 million in a leaseback agreement, in which the carrier charters the vessel from the buyer.

Photo: Flex LNG

Flex LNG, controlled by John Fredriksen, has entered a leasing agreement on two vessels with Hyundai Glovis, writes the company in a statement.

With the agreement, the gas carrier is selling the two vessels Flex Endeavour and Flex Enterprise for USD 420 million to Hyundai Glovis, while at the same time chartering them back on a 10-year contract. Adjusted for a non-amortizing and non-interest bearing seller's credit of USD 120 million in total, the deal is worth USD 300 million, writes Flex LNG.

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