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

Eni Strengthens LNG Ties with Japan

Mitsubishi Boosts Stake in Petronas’ Malaysia LNG Plant

TotalEnergies Signs LNG Supply Deal with South Korea’s HD Hyundai Chemical

Oil Loadings at Russia's Western Ports on the Rise

LNG Carriers Line Up At Malaysia's Bintulu Complex After Maintenance

DOF Subsea Grows Its APAC Backlog

Izomax Wins a Milestone Contract with Shell

A Hydrogen Balancing Act in Offshore Energy

Russia Opens 2024 Arctic Route for Shipping Urals Crude to Asia

Woodside and Taiwan’s CPC Ink Long-Term LNG Supply Deal

Current News

Valeura Energy Consolidates Thai Oil and Gas Assets

TotalEnergies Inks 15-Year LNG Supply Deal with China’s Sinopec

Shelf Drilling Secures $200M Contract Extensions with Chevron for Thailand Ops

Floating Wind and the Taming of Subsea Spaghetti

Impending Shortage of Jackups within Ageing Asia Pacific Fleet

Equinor Tries Again for a Japan Offshore Wind Lease

Yinson Production Concludes Minority Stake Sale in FPSO Anna Nery

Sunda Energy Pushes Back Chuditch-2 Appraisal Well Drilling Date

CNOOC Starts Production at Another Oil Field in South China Sea

ABS Takes Charge of Digital Twin Project for Petrobras’ FPSOs

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