Piraeus, Greece - May 12, 2020
GasLog Ltd. (“GasLog” or “the Company”) (NYSE: GLOG) yesterday took delivery of the GasLog Wales, a 180,000 cubic meter cargo capacity LNG carrier with dual fuel medium speed propulsion (“X-DF”) and Mark III Flex Plus containment system. The vessel immediately commenced a 12-year charter with the principal LNG shipping entity of Japan’s Jera Co., Inc. (“JERA”).
Paul Wogan, Chief Executive Officer of GasLog, stated “I am very pleased to announce the delivery of the GasLog Wales and commencement of her 12-year charter to JERA, one of the world’s largest LNG buyers. The vessel is the second of seven vessels we will be taking delivery of through the third quarter of 2021, representing approximately $145 million of incremental EBITDA per annum once fully delivered.
I want to thank our crew, site team and shore staff as well as our partners at Samsung for their hard work and dedication in delivering the GasLog Wales safely and on budget, despite the many challenges presented by the COVID-19 pandemic.”
GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog’s consolidated fleet consists of 35 LNG carriers. Of these vessels, 19 (14 on the water and five on order) are owned by GasLog, one has been sold to a subsidiary of Mitsui & Co., Ltd. and leased back to GasLog under a long-term bareboat charter and the remaining 15 LNG carriers are owned by the Company’s subsidiary, GasLog Partners. GasLog’s principal executive offices are at 69 Akti Miaouli, 18537 Piraeus, Greece. Visit GasLog’s website at http://www.gaslogltd.com.
LNG carrier "GasLog Wales". Image by GasLog Ltd.
GasLog Ltd. press release