GasLog Ltd. Announces the Delivery of the Recently Acquired LNG Carrier
Monaco - Oct. 4, 2013
GasLog Ltd. ("GasLog" or the "Company") (NYSE:GLOG) today announced that it has taken delivery of the STX Frontier, a 2010-built, 153,600 cubic meter Tri-Fuel Diesel Electric LNG carrier from STX Pan Ocean LNG PTE. Ltd., a Singapore based company. The vessel has been renamed GASLOG CHELSEA.
Paul Wogan, CEO; said, "We are delighted to have completed the purchase of this vessel. Our ability to secure the financing and take delivery of this vessel all within a relatively short period of time demonstrates the strength of GasLog’s operational platform. We believe this modern asset will provide great value for our shareholders based on the attractive purchase price and our expectations for the charter market going forward."
About GasLog Ltd.
GasLog is an international owner, operator and manager of LNG carriers. Following this announcement, GasLog’s fleet consists of 15 wholly-owned LNG carriers, including two ships delivered in 2010, five ships delivered in 2013 and eight LNG carriers on order. In addition, GasLog currently has 12 LNG carriers operating under its technical management for third parties. GasLog’s principal executive offices are located at Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco. GasLog’s website is http://www.gaslogltd.com.
GasLog Ltd. press release