GasLog newbuild to go on 12-year charter with JERA

GasLog newbuild to go on 12-year charter with JERA

GasLog has signed a long-term time charter with LNG Marine Transport, the LNG shipping subsidiary of Japan’s JERA, for newbuild LNG carrier HN 2274.

The vessels is scheduled for delivery from Samsung Heavy Industries in April 2020, and will immediately commence the 12-year charter.

Paul Wogan, CEO of GasLog, commented: “We are honored to add JERA, one of the world’s largest LNG buyers and a very high-quality counterparty, to our customer list. Furthermore, GasLog is one of the first non-Japanese LNG carrier owners to secure a long-term charter with JERA, again showing the advantage we can obtain from our differentiated operating capabilities, safety standards and commercial relationships. We look forward to expanding our relationship with JERA and developing our position as a provider of LNG transportation services to Japan’s LNG market, which remains the largest globally at more than 80 million tonnes in 2018.”

GasLog says the charter rate is in line with mid-cycle rates.

GasLog Partners LP will have the right to acquire the vessel once the charter begins due to an omnibus agreement between GasLog and GasLog Partners.

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.

Related Posts