Report: Flex LNG Adds Six More LNG Carriers

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  • As Polaris Shipping’s Premises Raided amid Stellar Daisy Probe

Oslo-listed owner and operator of liquefied natural gas (LNG) carriers Flex LNG has signed agreements to buy six LNG ships, Reuters reports citing the company’s chief executive Jonathan Cook.

The 170,000-cubic metre ships will be built by South Korean Samsung Heavy Industries (SHI) and Daewoo Shipbuilding and Marine Engineering (DSME), with the first two ships from the batch scheduled to join the company’s fleet in 2018. The remaining quartet is expected to follow suit in 2019.

According to Cook, all of the contracts have been signed and the initial payments have been processed during the course of this month.

World Maritime News is yet to receive a confirmation from the company on the matter.

In February 2017, Flex LNG entered into a deal to buy two highend MEGI LNGC newbuilds at DSME with scheduled delivery in Q1 2018. The two newbuilds were bought from affiliates of Geveran Trading, the company’s largest shareholder.

Based on the company’s information, Flex LNG operates a fleet of six MEGI LNG carriers with a capacity of approximately 174,000m3 under construction at SHI and DSME, slated for delivery in 2018 and 2019. FLEX LNG is marketing these vessels for charter and is pursuing floating storage and regasification (FSRU) projects.

In the meantime, Busan Coast Guard raided the South Korean shipping company Polaris Shipping on Thursday, May 25 in relation to the sinking of the ill-fated Stellar Daisy, Yonhap reports quoting a statement from the coast guard officials.

As disclosed, the raid of the company’s offices located in Seoul and Busan was aimed at collecting information that might help disclose the reason behind the sinking of the converted VLOC at the end of March this year.

The raid is part of the Coast Guard’s recently launched investigation into the incident, the aftermath of which has put into the spotlight the company’s operation of the vessel and its conversion, along with the alleged “slow reaction” to distress calls sent from the ship at the time of the sinking, among other things.

The 1993-built ship was carrying eight South Korean and sixteen Filipino sailors. Two of the sailors were rescued on April 1, while the remaining 22 crew members remain missing and are presumed dead.

Initial findings indicated that the converted ship had split in half following a hull crack that caused shifting of cargo and subsequent sinking of the bulk carrier. However, an official cause of the incident has not been provided yet.

Just a few days after the incident, Polaris Shipping confirmed that another of the firm’s vessels reported a crack on the outer hull of a tank- the 1993-built bulk carrier Stellar Unicorn, and sent it for repairs.

Cracks have also been found aboard Polaris-operated Stellar Queen, following an inspection of the ship which was conducted in Sao Luis, Brazil.

As a result, the company launched fleet-wide inspection of its ships.

Polaris Shipping is said to have agreed to provide the families of the victims with a compensation now that the on-site search has ended.

The company is yet to provide World Maritime News with a comment concerning the raid reports.

World Maritime News

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