Monaco - 12 March 2018
GasLog Ltd. ("GasLog" or "the Company") (NYSE:GLOG), an international owner, operator and manager of liquefied natural gas ("LNG") carriers, is pleased to announce the order of a newbuild 180,000 cubic meter Flex Plus vessel with XDF propulsion from Samsung Heavy Industries ("Samsung"). The newbuild vessel, Hull No. 2274, is scheduled to deliver in the second quarter of 2020 and is currently unchartered. The Company has also agreed options with Samsung for additional newbuild 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."
GasLog is an international owner, operator and manager of LNG carriers. GasLog's fully-owned fleet includes 29 LNG carriers (including 23 ships in operation and six LNG carriers on order). GasLog also has an additional LNG carrier which was sold to a subsidiary of Mitsui Co., Ltd. and leased back under a long-term bareboat charter. GasLog's consolidated fleet includes 12 LNG carriers in operation owned by GasLog's subsidiary, GasLog Partners. GasLog's principal executive offices are at Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco. GasLog's website is http://www.gaslogltd.com.
GasLog Ltd. press release