GasLog Orders LNG Carrier from Samsung Heavy
- Business & Finance
Greece-based owner and operator GasLog Ltd has placed an order for a new liquefied natural gas (LNG) carrier at South Korean shipbuilder Samsung Heavy Industries (SHI).
Featuring XDF propulsion and a capacity of 180,000 cubic meters, the new vessel is scheduled to be handed over to its owner in the third quarter of 2019.
“We have secured this vessel at a very attractive cost and it will be equipped with the latest propulsion and cargo containment technology which will result in highly competitive unit freight costs,” Paul Wogan, Chief Executive Officer of GasLog Ltd., said.
The LNG carrier is currently unchartered “but its early delivery means that it is expected to deliver into a strong LNG shipping market,” GasLog informed.
GasLog estimates that the LNG shipping market will be short of capacity by the winter of 2019/2020.
The construction deal is worth around KRW 210 billion (USD 195 million), Samsung Heavy Industries earlier said.