GasLog returns to Samsung Heavy for new LNG carrier

LNG vessel owner GasLog has ordered a 180,000 cu m LNG carrier from South Korea’s Samsung Heavy Industries, its second order at the yard this year.

The vessel features XDF propulsion and is scheduled to be delivered in the second quarter of 2020. GasLog says that they don’t yet have a charter lined up for the ship, but have options included in the deal with Samsung for more of the vessels.

Paul Wogan, chief executive officer of GasLog, commented, “Given that the outlook for LNG shipping demand remains robust, and with increasing evidence that newbuild prices are starting to rise, we have moved to lock in a very attractive price for our second newbuild order in 2018. We remain confident that the unit freight cost advantage offered by the latest generation vessels will make this ship highly attractive to customers looking for the most competitive solution to their LNG shipping requirements.”

Last month GasLog ordered a single vessel of the same specification from Samsung for delivery in the third quarter of 2019 when they expect the LNG shipping market to be strong.

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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