GasLog clinches long-term employment for three LNG newbuilds

Greek liquefied natural gas (LNG) shipping player GasLog has secured long-term charters for three of its four newbuild 174,000 cu m vessels booked for construction late last year at South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME).

The company has sealed an agreement with Japanese trading house Mitsui & Co to charter one of its newbuildings for a period of nine years, commencing in the fourth quarter of 2024. 

In addition, two newbuildings have been secured by an undisclosed major LNG producer for a period of ten years each. The charter is set to begin upon delivery of each vessel from the shipyard in the third and fourth quarter of 2025.

GasLog ordered the LNG quarter that will be fitted with the latest generation of MEGI engines in November 2021 for around $840m. Financial details surrounding the charter deals have not been disclosed. The company also said that the charter deal with Gunvor for the 2015-built 155,000 cu m LNG carrier GasLog Salem has been extended for an additional twelve months.

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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