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LNG World Shipping

GasLog confirms seven-vessel newbuilding programme

Tue 19 Mar 2019 by John Snyder

GasLog confirms seven-vessel newbuilding programme
GasLog Gladstone and GasLog Warsaw at Samsung Heavy Industries (credit: Twitter/GasLog)

Monaco-based GasLog Ltd held a double naming ceremony for its two newest LNG carriers at South Korea’s Samsung Heavy Industries.

In a social media post, GasLog announced the naming ceremony for GasLog Gladstone and GasLog Warsaw, tweeting “We are very proud to see these state-of-the-art vessels being added to our fleet.”

GasLog Gladstone, which has a capacity of 174,000 m3 and GasLog Warsaw, with a capacity of 180,000 m3, join a consolidated GasLog fleet of 27 vessels in operation or delivered and another seven under construction.

GasLog has an additional LNG carrier which was sold to a subsidiary of Mitsui & Co and leased back under a long-term bareboat charter.

GasLog’s seven newbuilds, all with WinGD’s low-pressure, dual-fuel X-DF propulsion, will be delivered in 2020 and 2021 and range in capacity from 174,000-180,000 m3. Four are chartered to US-based Cheniere, two others to UK-based multinational Centrica and the single 180,000 m3 LNGC is as yet unchartered, according to a recent GasLog document.

Cheniere is the leading producer of LNG in the US and expects to be a top five global LNG producer by 2020.

In related news, GasLog Partners, a subsidiary of GasLog Ltd, agreed to purchase 174,000-m3 LNGC GasLog Glasgow, built in 2016, for US$214M. It is currently on a multi-year time charter with a wholly owned subsidiary of Royal Dutch Shell plc through June 2026. Shell has the option to extend the charter for five years. 

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