GasLog inks long-term charters for three LNG tankers

Peter Livanos-led GasLog said it has signed long-term charter deals for three out four 174,000-cbm LNG carriers it ordered from South Korea’s Daewoo Shipbuilding and Marine Engineering.

GasLog revealed this order for four LNG carriers in December last year. DSME will deliver the ME-GI newbuilds in 2024 and 2025.

According to GasLog’s quarterly report released on Thursday, the firm entered into a time charter party agreement with Japan’s trading house Mitsui & Co on February 2 to charter one of the LNG carriers for a period of nine years, commencing in the fourth quarter of 2024.

In addition, on February 8, GasLog signed two agreements with a “major LNG producer” to charter two of the newbuilds for a period of ten years each, it said.

The charter would start upon delivery of each vessel from the shipyard in the third and fourth quarter of 2025, it said.

GasLog did not provide any additional information regarding these charters.

The firm also said it has extended the time charter of the 2015-built TFDE LNG carrier GasLog Salem with Gunvor for an additional twelve months.

GasLog Salem is currently on charter to Clearlake Shipping, a subsidiary of trader Gunvor, until March 2022.

The shipping company’s consolidated fleet consists of 39 LNG carriers out of which four are under construction.

Of these vessels, GasLog owns 20 LNG carriers while three have been sold and leased back by GasLog under long-term bareboat charters. The company’s subsidiary GasLog Partners owns the remaining 15 LNG vessels.

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