12-years term charter of GasLog starts from March 2019

GasLog, Monaco-based LNG carrier owner and operator, has entered into a 12-year fixed-term charter with Japan’s JERA for a newbuild LNG carrier on the basis of signed agreement with LNG Marine Transport Limited, the principal LNG shipping entity of JERA.

The terms of the contract start from March 2019.

“We have now ordered and fixed seven newbuild vessels on long-term contracts with four high-quality counterparties since our April 2018 investor day.”

The vessel is scheduled for an April 2020 delivery from South Korea’s Samsung Heavy Industries for an April 2020.

The 180,000 cubic meter Mark III Flex Plus design will feature low pressure two stroke propulsion. GasLog said the rate of hire for the charter was in line with mid-cycle rates.

“Within the last week we have announced new charters for our uncommitted newbuilds to two very high-quality new customers in JERA and Endesa S.A.,” Paul Wogan, CEO of GasLog, commented.

As a result, GasLog Partners’ potential dropdown pipeline will increase to 13 LNG carriers with charter length of five years or longer.


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