GasLog: New Shipbuilding Order with SHI

By Aiswarya Lakshmi January 2, 2018

GasLog , an international owner, operator and manager of liquefied natural gas (LNG) carriers, has announces that it has ordered a newbuild 180,000 cubic meter vessel with XDF propulsion from Samsung Heavy Industries (SHI) that is scheduled to deliver in the third quarter of 2019.

This vessel is currently unchartered but its early delivery means that it is expected to deliver into a strong LNG shipping market.

Paul Wogan, Chief Executive Officer of GasLog Ltd., commented, "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."

Paul added: "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 is an international owner, operator and manager of LNG carriers. GasLog's fully-owned fleet includes 15 LNG carriers (including 10 ships in operation and 5 LNG carriers on order) and GasLog. GasLog Partners LP, a master limited partnership formed by GasLog, owns a further twelve LNG carriers.