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GasLog upbeat about LNG market, orders new build

GasLog upbeat about LNG market, orders new build

By Staff Writer - January 2, 2018

Paul Wogan. Photo: GasLog
Paul Wogan. Photo: GasLog

Monaco-based GasLog Ltd has ordered a new build 180,000 cubic metre vessel with XDF propulsion, scheduled to deliver in the third quarter of 2019, from Samsung Heavy Industries.

This vessel is currently unchartered but is expected to deliver into a strong Liquefied Natural Gas (LNG) shipping market, the company said on Tuesday, January 2.

CEO Paul Wogan said: “I am very pleased to announce this expansion in our fleet. We have secured this vessel at a very attractive cost and she will be equipped with the latest propulsion and cargo containment technology which will result in highly competitive unit freight costs.

“The vessel is expected to deliver into a strong LNG shipping market which, according to our estimates, will be short of capacity by the winter of 2019/2020.”

GasLog’s fully-owned fleet includes 15 LNG carriers, including 10 ships in operation and five LNG carriers on order, and GasLog Partners LP, a master limited partnership formed by GasLog, owns a further twelve LNG carriers. GasLog’s principal executive offices are in Monaco at Gildo Pastor Center, 7 Rue du Gabian.


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