GasLog Ltd places a newbuilding order at Samsung Heavy Industries

By Vessels

GasLog Ltd. (GasLog, NYSE: GLOG), an international owner, operator and manager of liquefied natural gas (LNG) carriers, yesterday announced that it has ordered a newbuild 180,000 cubic meter vessel with XDF propulsion from Samsung Heavy Industries (Samsung) that is scheduled to be delivered in the third quarter of 2019.

GasLog Ltd places a newbuilding order at Samsung Heavy Industries  

This vessel is currently unchartered but its early delivery means that it is expected to deliver into a strong LNG shipping market.

Paul Wogan, Chief Executive Officer of GasLog Ltd., commented, "I am very pleased to announce this expansion in our fleet.  We have secured this vessel at a  very attractive cost and she will be equipped with the latest propulsion and cargo containment technology which will result in highly competitive unit freight costs.  The vessel is expected to deliver into a strong LNG shipping market which, according to our estimates, will be short of capacity by the winter of 2019/2020."

Source: GasLog