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CDB Leasing picks up GasLog LNG pair

CDB Leasing has purchased two liquefied natural gas (LNG) carriers from entities linked to Peter Livanos-controlled GasLog.

The Hong Kong-listed leasing unit of China Development Bank is paying $284m for the 2014-built GasLog Saratoga and 2013-built GasLog Sydney, or $144m and $140m, respectively.

GasLog and its New York-listed affiliate GasLog Partners will leaseback the 155,000 cu m vessels for a period of five years with no purchase option or obligation, but with a profit-sharing mechanism attached.

Livanos’ Blenheim Holdings-owned GasLog previously sold GasLog Skagen, GasLog Salem and GasLog Shanghai to CDB Leasing with no repurchase option or obligation. 

Last year, the Chinese leasor also agreed to a $596.5m sale and leaseback with Greek shipowner George Procopiou for three LNG carriers under construction in South Korea. The lease deals are for ten years but include a buyback option.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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