Greek owner, operator and manager of LNG carriers GasLog Ltd. (GLOG) announced that it has ordered a newbuild 180,000 cubic meter LNG carrier from South Korean Samsung Heavy Industries, scheduled for delivery in the third quarter of 2019.
The vessel, that will feature XDF propulsion, is currently unchartered, “but its early delivery means that it is expected to deliver into a strong LNG shipping market,” the company said.
Local media had cited the South Korean shipbuilder saying last week that it would ink an agreement by the end of the year with a ‘foreign company’, without though disclosing the name of the company.
“I am very pleased to announce this expansion in our fleet. 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 our estimates, will be short of capacity by the winter of 2019/2020,” commented Paul Wogan, Chief Executive Officer of GasLog Ltd.
With this order secured by Samsung Heavy, its total orders in the last year reached the 28 ships, of a total worth USD6.9 billion, exceeding the company’s annual target of USD6.5 billion.
