John Fredriksen's Flex LNG has locked away a sizeable portion of its fleet on multi-year time-charters, fixing four vessels to Cheniere Energy with an option for a fifth.

The New York- and Oslo-listed company announced on Wednesday that Cheniere would take the 174,000-cbm newbuilding Flex Vigilant on charter once it leaves the yard in May.

Two more vessels will be delivered to the Houston-based LNG giant in the third quarter and a fourth in the...