GASLOG LTD. ANNOUNCES A CHARTER TO CENTRICA FOR SEVEN YEARS AND PLACES A NEWBUILDING ORDER AT SAMSUNG HEAVY INDUSTRIES
30 Mai 2018 - 1:00PM
GasLog Ltd. (“GasLog”) (NYSE:GLOG) is pleased to announce the
signing of a seven year time charter party (the “Charter”) with a
wholly owned subsidiary of Centrica plc. (“Centrica”) for a
newbuild LNG carrier.
A 180,000 cubic meter LNG carrier (HN 2262) with low pressure
two stroke (“LP-2S”) propulsion has been ordered from Samsung Heavy
Industries in South Korea, with expected delivery in the third
quarter of 2020.
The rate of hire for the Charter is broadly in line with
mid-cycle rates.
Further, GasLog and Centrica have separately agreed optionality
in relation to the actual vessel to be delivered into the
Charter. This optionality allows, instead of HN 2262, either
HN 2212 or HN 2274 to be delivered into the Charter, both currently
uncommitted GasLog newbuild LNG carriers due for delivery in Q3
2019 and Q2 2020, respectively.
GasLog Partners LP ("GasLog Partners", NYSE:GLOP) has the right
to acquire the vessel delivered into the Charter pursuant to the
omnibus agreement between GasLog and GasLog Partners. As a result,
GasLog Partners’ potential dropdown pipeline will increase to nine
LNG carriers with charter length of five years or longer.
Paul Wogan, Chief Executive Officer of GasLog, stated, “I am
delighted that Centrica has chosen GasLog to provide them with a
second LNG carrier on long-term charter. We appreciate Centrica’s
confidence in GasLog’s ability to deliver high operating and safety
standards and we look forward to continuing to build our strategic
partnership with them.
Robust LNG demand and supply fundamentals underpin a positive
outlook for LNG shipping. These fundamentals are allowing us to
grow our fleet at attractive returns, to extend the drop-down
pipeline for GasLog Partners and to make progress toward the growth
target set out at our recent Investor Day.”
Contacts:
Alastair MaxwellChief Financial OfficerPhone:
+44 203-388-3105
Phil CorbettHead of Investor RelationsPhone: +44
203-388-3116
Joseph NelsonDeputy Head of Investor
RelationsPhone: +1 212-223-0643
Email: ir@gaslogltd.com
About GasLog 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 owned fleet consists of 30 LNG
carriers (25 ships on the water and five 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 13 LNG carriers in operation
owned by GasLog Partners. GasLog's principal executive offices are
at Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco. Visit
GasLog’s website at http://www.gaslogltd.com.
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