GasLog extending options on LNG carriers at Samsung Heavy Industries

GasLog extending options on LNG carriers at Samsung Heavy Industries

New York: LNG carrier operator GasLog is planning to extend its options for six new vessels at Samsung Heavy Industries (SHI).

The New York listed company is in the process of expanding its fleet over the next few years, and needs to exercise its options for the new ships by next week in order for SHI to go ahead and deliver them in 2018 and 2019.

In its annual report to the US Securities and Exchange Commission GasLog confirmed that it is doing just that and that it would need to secure financing to extend the options.

The six ships will be 174,000cbm in capacity and will be equipped with the latest Tri-Fuel Diesel Electric (TFDE) propulsion technology. Some of the six will have the option to change from TFDE to two-stroke diesel engines with low-pressure gas injection (“LP-2S”).

In May last year GasLog ceo Paul Wogan explained that the firm is very happy dealing with SHI “because of their solid track record for delivering our vessels on time and on budget”.

GasLog has 18 ships, factoring in its GasLog Partners spin-off, and has nine newbuildings on the way.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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