GasLog books LNG newbuild at SHI

Monaco-based LNG shipper GasLog has ordered a newbuild 180,000 cubic meter vessel with XDF propulsion from the South Korean shipbuilder Samsung Heavy Industries.

The newbuild LNG carrier is scheduled for delivery in the third quarter of 2019, the shipper said in a statement.

This vessel is currently unchartered but its early delivery means that it is expected to deliver into a strong LNG shipping market, GasLog said.

Speaking of the fleet expansion, Paul Wogan, CEO of GasLog said, “We have secured this vessel at a  very attractive cost and she will be equipped with the latest propulsion and cargo containment technology which will result in highly competitive unit freight costs.” 

The vessel is expected to deliver into a strong LNG shipping market which, according to GasLog’s estimates, will be short of capacity by the winter of 2019/2020, Wogan said.