GasLog Ltd. Orders a Newbuild LNG Carrier from Samsung Heavy Industries

GasLog Ltd., an international owner, operator and manager of LNG carriers, has ordered a newbuild Flex Plus vessel with XDF propulsion from Samsung Heavy Industries. The newbuild vessel is scheduled to be delivered in the second quarter of 2020 and is currently unchartered. The Company has also agreed options with Samsung for additional newbuild vessels.

“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,” said Paul Wogan, Chief Executive Officer of GasLog. “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.”