EMEA News
Two Tri-Fuel LNG Carriers Ordered
Monaco-based GasLog Ltd. [NYSE:GLOG] (GasLog) says it has ordered two new tri-fuel liquefied natural gas carriers for charter to a subsidiary of BG Group Plc (BG Group).
"As well as being tri-fuel and fitted with four stage compressors the vessels will have a Boil Off Rate of 0.09% and have a number of fuel saving devices that make them extremely efficient," said CEO Paul Wogan.
The 174,000 cubic meter vessels are expected to be delivered from South Korea's Samsung Heavy Industries Co. Ltd. (Samsung) in the third and fourth quarters of 2016 and will immediately begin seven-year charters with the BG Group subsidiary.
GasLog also has secured up to six additional options from Samsung.
The LNG shipping company owns six existing ships that are on charter and has eight vessels on order.
Of the ships being constructed, two will go on charter to Shell, and four will go to BG.
GasLog said the strength of its fleet commitments allows it to be opportunistic in placing two open vessels, scheduled for delivery in late 2014 and early 2015, into shorter-term charters if that choice appears beneficial.
GasLog received a certification from marine and offshore classification firm ABS earlier this year for its commitment to energy efficiency.
