Flex LNG Ltd, the liquefied natural gas shipping company based in Bermuda, has announced that the charterer of Flex Endeavour has exercised an option to extend the firm period of the time charter by 500 days, from the third quarter 2030 to the first quarter of 2032.

In connection with the extension of three ships, the charterer has one further option to extend the time charter period by one additional year to 2033.

Øystein Kalleklev, the chief executive of Flex LNG Management AS, said: "We are glad to share another contract extension, bringing the total to three so far this year and evidencing the fact that our charterers like the service we provide.

“We have so far added about 4.4 years of additional firm backlog while we have been consuming about 3.6 years of backlog, thus putting us at a slight surplus in terms of contract backlog.

“With this extension, our total firm backlog stands at a solid 51 years, which may increase to 69 years in the event charterers are utilising all their extension options."

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Borr Drilling Ltd, the Bermudian-based oilfield services company, has secured new contract commitments for three of its premium jack-up rigs.

The commitments for Prospector 1, Gunnlod, and a rig to be determined total 820 days and $158.6 million in contract revenue, inclusive of mobilisation and demobilisation compensation.

In the North Sea, multiple contracts have been secured totalling 250 days of backlog that commenced last month.

In South East Asia, the company has secured a one-well commitment, with an anticipated duration of 90 days, that will commence in May.

Finally, an undisclosed customer has issued a firm and binding letter of award for a campaign expected to commence between Q4 2024 and Q1 2025, with an estimated duration of 480 days.

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DHT Holdings Inc, the Bermudian-based crude oil tanker company, has estimated first quarter time charter equivalent earnings for its fleet at $50,900 per day.

That figure comprises $54,000 per day for the company’s very large crude carriers operating in the spot market and $39,500 per day for the company’s VLCCs on time-charter.

The estimated time charter equivalent earnings are based on 2,091 revenue days for the first quarter, of which 1,636 days are spot days.

So far in the second quarter of the year, 42 per cent of the available spot days have been booked at an average rate of $54,200 per day on a discharge-to-discharge basis.

Some 54 per cent of the available revenue days, spot and time-charter days combined, have been booked at an average rate of $46,900 per day.