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GasLog Ltd. orders a Newbuild LNG carrier from Samsung Heavy Industries

MONACO -GasLog Ltd. ("GasLog" or "the Company")  an international owner, operator and manager of liquefied natural gas ("LNG") carriers, announced the order of a newbuild 180,000 cubic meter Flex Plus vessel with XDF propulsion from Samsung Heavy Industries ("Samsung").

The newbuild vessel, Hull No. 2274, is scheduled to deliver in the second quarter of 2020 and is currently unchartered. The Company has also agreed options with Samsung for additional newbuild vessels.

Paul Wogan, Chief Executive Officer of GasLog, commented, "Given that the outlook for LNG shipping demand remains robust, and with increasing evidence that newbuild prices are starting to rise, we have moved to lock in a very attractive price for our second newbuild order in 2018. We remain confident that the unit freight cost advantage offered by the latest generation vessels will make this ship highly attractive to customers looking for the most competitive solution to their LNG shipping requirements."


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FEATURED COLUMNS

Editorial comment
-Adrienne Blume
According to GIIGNL’s 2018 Annual Report, global LNG trade expanded by 3.5 Bft3d in 2018, to 38.2 Bft3d—a record 10% increase.
Power, LNG projects drive pipeline construction in Africa
-Shem Oirere
Increasing public investment in gas-fired power plants in Africa, the continuing recovery in global oil prices and persistent insecurity in key producer markets, such as Nigeria, are likely to impact gas transmission pipeline projects on the continent, even as more international companies express interest in the region’s stranded gas resources.


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