World News
Dynagas, GasLog, And Golar Form LNG Carrier "Cool Pool"
Dynagas Ltd., GasLog Ltd. and Golar LNG Ltd have signed a new deal to form a carrier pool, dubbed "The Cool Pool," and jointly market their vessels on the liquefied natural gas (LNG) shipping spot market, the companies announced this week.
The pool is expected to consist of 14 LNG carriers, with Dynagas and GasLog each providing three vessels and Golar providing eight.
According to reports, the deal will be well-positioned to take advantage of a growing LNG spot trading market, which has been benefiting lately from an increase in Australian supply and new LNG importers such as Egypt.
The companies note that the pool would include only charter agreements lasting a year or less, with each company to take responsibility of its own vessels for charters of longer duration.
Tony Lauritzen, CEO of Dynagas LNG Partners LP, will helm the pool, while Morten Nielsen will reportedly be pool manager, with the mandate to schedule employment for each pool vessel.
The pool is expected to begin in September 2015.
Earlier this year, it was reported that GasLog had also participated in developing a new LNG carrier design that was eight percent more energy efficient.
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