GasLog sells GasLog Salem LNG carrier to CDBL

GasLog sells GasLog Salem LNG carrier to CDBL

Greek owner and operator of LNG carriers GasLog has completed the sale of GasLog Salem LNGC to a subsidiary of China Development Bank Leasing (CDBL) for $128 million.

Illustration only; Courtesy of GasLog
GasLog sells GasLog Salem LNG carrier to CDBL
Illustration only; Courtesy of GasLog

By doing this, GasLog is releasing approximately $22 million of incremental liquidity.

The company will also bareboat charter-in the vessel from CDBL for a period of five years. This charter ends in October 2026, with no obligation to purchase the vessel at the end of the lease.

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The ship is a 155,000 cubic meter LNG carrier with tri-fuel diesel-electric propulsion. Samsung Heavy Industries constructed it back in 2015.

Meanwhile, GasLog Salem is currently on charter to Clearlake Shipping, a subsidiary of Gunvor Group until March 2022.