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

Shell’s CEO says Europe’s energy crisis is far from over

The energy crisis in Europe is a "multiyear issue" and governments will have to work faster to address the...

Update: LNG tanker runs aground in Suez Canal

NYK's 2021-built LNG carrier Grace Emilia ran aground in the Suez Canal on Wednesday, but the incident did not...

Samsung Heavy to build LNG carrier duo for about $496 million

South Korean shipbuilding giant Samsung Heavy Industries has won a new order to build two liquefied natural gas (LNG)...

More News Like This

Beach pens Waitsia deal with Webuild

Australia's Beach Energy has signed a deal with Italy's Webuild to complete the second stage of the Waitsia gas...

GasLog Partners aims to convert steam LNG carrier to FSRU for Australian project

NYSE-listed LNG shipping firm GasLog Partners is planning to convert one of its carriers with a steam turbine propulsion...

GasLog Partners gets buyout offer from GasLog

NYSE-listed LNG carrier owner GasLog Partners said it had received a buyout offer from GasLog. Under the unsolicited non-binding proposal,...

Oman LNG pens supply deal with Japan’s Jera

State-owned producer Oman LNG has signed a key term sheet to supply liquefied natural gas to Japan's Jera from...