GasLog fixes charter with Endesa for newbuild LNG carrier

GasLog fixes charter with Endesa for newbuild LNG carrier

Monaco-headquartered GasLog has sealed a new long-term charter with a subsidiary of Spain’s Endesa for newbuild LNG carrier GasLog Warsaw.

The 180,000 cu m vessel is set for delivery from South Korea’s Samsung Heavy Industries in July, and go on an eight year fixed-term charter commencing May 2021.

Paul Wogan, CEO of GasLog, commented: “Before commencing its long-term charter to Endesa in May 2021, the vessel will be available during a period when we expect the spot market to be strong, especially during the 2019/2020 and 2020/2021 winters. The combination of the vessel’s size, highly efficient LP-2S propulsion and industry-leading low natural boil-off rate of 0.07% all combine to produce an extremely competitive transportation cost that should make it particularly attractive to potential charterers.”

Endesa also has two options to extend the charter by six years each.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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