Samsung Delivers LNG Carrier to GasLog

By Eric Haun
Monday, May 11, 2020

Greek shipowner GasLog has taken delivery of a newbuild liquefied natural gas (LNG) carrier from Korean shipbuilder Samsung Heavy Industries. 

The 180,000-cubic-meter-capacity GasLog Wales will operate on a 12-year time charter agreement with the principal LNG shipping entity of Japan’s JERA, GasLog said in its latest quarterly report.

The handover follows the April 1 delivery of Samsung-built sister ship GasLog Windsor, now on a seven-year charter with a wholly owned subsidiary of British energy company Centrica.

GasLog said both newbuilds feature the latest technological developments in cargo containment, boil off gas management and dual fuel medium speed propulsion X-DF propulsion.

The vessels were delivered on time and on budget despite industrial disruptions in South Korea caused by the coronavirus pandemic, GasLog said.

The shipowner has another five newbuilds on order at Samsung scheduled to be delivered through the third quarter of 2021. The first, a 180,000-cubic meter-capacity vessel due in the third quarter, will be chartered for seven years to Centirca, followed by two 174,000- and two 180,000-cubic-meter vessels to be chartered to a wholly owned subsidiary of U.S.-based Cheniere, also for seven years each.

The vessel deliveries are scheduled amid an uncertain future for LNG demand and near-term shipping needs as COVID-19 and oil's price fall continue to weigh on demand for gas.

GasLog, whose consolidated fleet consists of 35 LNG carriers, including the vessels on order, said its vessels operating in the spot and short-term market are currently chartered through to at least June 2020, and that the company has not experienced disruption to the charter parties, including contracted revenues, for its term- or spot-chartered vessels.

Categories: Shipbuilding Tankers LNG Vessels LNG Carriers

Related Stories

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

Woodside Inks Long-Term LNG Supply Deal with China Resources

Current News

Santos and QatarEnergy Agree Mid-Term LNG Supply

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com