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Samsung Heavy delivers LNG Carrier to GasLog

Samsung Heavy delivers LNG Carrier to GasLog

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

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GasLog Wales' 180,000-cubic-meter capacity will operate on a 12-year charter agreement with Japan's JERA's main LNG shipping company.

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

GasLog said both newbuilds feature state-of-the-art technical advances in cargo storage, boil off gas management and X-DF propulsion with dual fuel medium speed.

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

The shipowner is expected to deliver another 5 newbuilds on order at Samsung through the third quarter of 2021. The first, a vessel with a capacity of 180,000 cubic meters due in the third quarter, will be chartered to Centirca for seven years, followed by two 174,000- and two 180,000-cubic-meter vessels chartered to a wholly-owned subsidiary of U.S.-based Cheniere, all for seven years each.

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

Maritime Business World

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