GasLog Ltd. Announces a Charter to Centrica for Seven Years and Places a Newbuilding Order at Samsung Heavy Industries
20 Octobre 2016 - 1:20PM
GasLog Ltd. ("GasLog", NYSE:GLOG), an international owner, operator
and manager of liquefied natural gas ("LNG") carriers, today
announces that it has signed a time charter party with Centrica
plc. ("Centrica") to charter a vessel for a period of seven years.
The vessel, a 180,000 cubic meter LNG carrier with XDF propulsion,
has been ordered from Samsung Heavy Industries ("Samsung") in South
Korea. Centrica will charter the vessel from GasLog for a period of
seven years commencing in the second half of 2019.
The daily charter rate is in line with GasLog's
average long-term charter rate.
GasLog Partners LP ("GasLog Partners",
NYSE:GLOP) has the right to acquire the vessel pursuant to the
omnibus agreement between GasLog and GasLog Partners. Securing a
seven-year charter on this vessel extends GasLog Partners' dropdown
pipeline of future vessels from thirteen to fourteen.
Paul Wogan, Chief Executive Officer of GasLog
Ltd., commented, "I am delighted to secure a new charter with
Centrica, one of the leading European energy companies. This new
charter is consistent with GasLog's strategy of securing long-term
contracts with high quality counterparties and further extends the
dropdown pipeline to GasLog Partners.
Centrica is an important new customer for GasLog
and we look forward to providing them with first class LNG shipping
services as they continue to expand their LNG activities.
Following this charter, GasLog has five
newbuildings with contracts of between 7 and 10 years, which
deliver over the next three years providing significant inbuilt
revenue and EBITDA growth."
About GasLog Ltd. GasLog is an
international owner, operator and manager of LNG carriers. GasLog's
fully-owned fleet includes 19 LNG carriers (including 14 ships in
operation and 5 LNG carriers on order) and GasLog has four LNG
carriers operating under its technical management for third
parties. GasLog Partners LP, a master limited partnership formed by
GasLog, owns a further eight LNG carriers. 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.
Contacts: Jamie Buckland - Head of Investor Relations
Phone: +44 203 388 3116 Email: ir@gaslogltd.com
Forward Looking Statements All
statements in this press release that are not statements of
historical fact are "forward-looking statements" within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements that address
activities, events or developments that the Company expects,
projects, believes or anticipates will or may occur in the future,
particularly in relation to our operations, cash flows, financial
position, liquidity and cash available for dividends or
distributions, plans, strategies, business prospects and changes
and trends in our business and the markets in which we operate. We
caution that these forward-looking statements represent our
estimates and assumptions only as of the date of this press
release, about factors that are beyond our ability to control or
predict, and are not intended to give any assurance as to future
results. Any of these factors or a combination of these factors
could materially affect future results of operations and the
ultimate accuracy of the forward-looking statements. Accordingly,
you should not unduly rely on any forward-looking
statements.
Factors that might cause future results
and outcomes to differ include, but are not limited to the
following:
- general LNG shipping market conditions and trends,
including spot and long-term charter rates, ship values, factors
affecting supply and demand of LNG and LNG shipping and
technological advancements;
- continued low prices for crude oil and petroleum
products;
- our ability to enter into time charters with new and
existing customers;
- changes in the ownership of our
charterers;
- our customers' performance of their obligations under
our time charters;
- our future operating performance, financial condition,
liquidity and cash available for dividends and
distributions;
- our ability to obtain financing to fund capital
expenditures, acquisitions and other corporate activities, funding
by banks of their financial commitments, and our ability to meet
our restrictive covenants and other obligations under our credit
facilities;
- future, pending or recent acquisitions of or orders for
ships or other assets, business strategy, areas of possible
expansion and expected capital spending or operating
expenses;
- the time that it may take to construct and deliver
newbuildings and the useful lives of our ships;
- number of off-hire days, drydocking requirements and
insurance costs;
- fluctuations in currencies and interest
rates;
- our ability to maintain long-term relationships with
major energy companies;
- our ability to maximize the use of our ships, including
the re-employment or disposal of ships not under time charter
commitments;
- environmental and regulatory conditions, including
changes in laws and regulations or actions taken by regulatory
authorities;
- the expected cost of, and our ability to comply with,
governmental regulations and maritime self-regulatory organization
standards, requirements imposed by classification societies and
standards imposed by our charterers applicable to our
business;
- risks inherent in ship operation, including the
discharge of pollutants;
- availability of skilled labor, ship crews and
management;
- potential disruption of shipping routes due to
accidents, political events, piracy or acts by
terrorists;
- potential liability from future
litigation;
- any malfunction or disruption of information technology
systems and networks that our operations rely on or any impact of a
possible cybersecurity breach; and
- other risks and uncertainties described in the
Company's Annual Report on Form 20-F filed with the SEC on March
14, 2016 and available at http://www.sec.gov.
We undertake no obligation to update or
revise any forward-looking statements contained in this press
release, whether as a result of new information, future events, a
change in our views or expectations or otherwise, except as
required by applicable law. New factors emerge from time to time,
and it is not possible for us to predict all of these factors.
Further, we cannot assess the impact of each such factor on our
business or the extent to which any factor, or combination of
factors, may cause actual results to be materially different from
those contained in any forward-looking statement.
The declaration and payment of dividends
are at all times subject to the discretion of our board of
directors and will depend on, amongst other things, risks and
uncertainties described above, restrictions in our credit
facilities, the provisions of Bermuda law and such other factors as
our board of directors may deem relevant.
GasLog (NYSE:GLOG)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
GasLog (NYSE:GLOG)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024