GasLog inks long-term charters for three LNG tankers

Peter Livanos-led GasLog said it has signed long-term charter deals for three out of 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.

- Advertisements -

Most Popular

Stena Bulk sells its last LNG carrier

Swedish shipping firm Stena Bulk has sold its last liquefied natural gas (LNG) carrier to an undisclosed Asian buyer. The...

Gulfstream LNG asks US FERC to start pre-filing process

Houston-based Gulfstream LNG is seeking approval from the US FERC to initiate the environmental pre-filing review for its mid-sized...

Shell launches largest bio-LNG plant in Germany

A unit of LNG giant Shell has launched what it says is the largest bio-LNG production plant in Germany. The...

More News Like This

Tokyo Gas, Mitsui deliver US bio-LNG to Japan

Japan's city gas supplier and LNG importer, Tokyo Gas, and compatriot trading house Mitsui & Co joined forces to...

Chart and GasLog in LH2 pact

US-based LNG equipment maker Chart Industries will collaborate with Greek LNG shipping firm GasLog to study the development of...

Gastrade: Greece’s first FSRU to start commercial ops by end of April

Greece’s Gastrade expects to launch commercial operations at its FSRU-based LNG import terminal off Alexandroupolis by the end of...

GasLog, Cheniere extend LNG carrier charter deal

Greek LNG shipping firm GasLog has extended a charter deal for one of its vessels with a unit of...