The two 174,000 cu m LNG newbuilds are to be built at SHI with delivery in late 2020. The vessels will be chartered to Cheniere Energy for US LNG exports.
The charter rate was described as “broadly in line with mid-cycle rates” and Cheniere has the option to charter one or two further vessels.
“Cheniere’s decision to partner with GasLog is a vote of confidence in our ability to deliver a differentiated service to our customers, founded upon our core principles of operational excellence and an uncompromising approach to safety,” said Paul Wogan, ceo of GasLog.
He was upbeat about the outlook saying: “We continue to expand our fleet with highly competitive vessels backed by long term contracts, while simultaneously diversifying our customer base. We anticipate further incremental shipping capacity will be needed to supply forecast LNG demand growth, and remain confident in our ability to increase our market share at attractive returns.”
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