GasLog wraps up $128 million LNG carrier sale

Peter Livanos-led GasLog has completed the sale of GasLog Salem to a unit of China Development Bank Leasing for $128 million, releasing about $22 million of incremental liquidity.

Concurrent with the sale, GasLog will bareboat charter-in the 155,000-cbm LNG vessel from CDBL for a period of 5 years, ending in October 2026, it said in a statement.

Also, Gaslog said it has no obligation to purchase the vessel at the end of the lease.

The tri-fuel diesel electric (TFDE) LNG carrier, built in 2015, is currently on charter to Clearlake Shipping, a subsidiary of trader Gunvor until March 2022.

GasLog’s consolidated fleet consists of 35 LNG carriers. Of these vessels, its unit GasLog Partners owns 15 ships.

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