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News Breaks | | | | February 8, 2013 | | 06:03 EDT |  | GLOG, BRGYY | GasLog announces it has ordered ntwo new carriers from Samsung Heavy Industries
GasLog (GLOG) announced that it has ordered two new 174,000 cbm Tri-Fuel Diesel Electric LNG carriers from Samsung Heavy Industries in South Korea. The vessels are expected to be delivered in Q1 and Q2 2016, respectively, and upon delivery will commence firm ten-year charters with a subsidiary of BG Group (BRGYY). The two vessels are expected to have a combined fully delivered cost of approximately $410M-$420M and are expected to generate a combined annualized EBITDA1 of approximately $47M-$48M over the first twelve months of operation. GasLog has also agreed to modify and extend the charter currently in place for its Hull Number 2017, chartered to a subsidiary of BG Group and scheduled for delivery in Q3 2013. Under the new arrangement the ship will deliver into an eight year charter in which the first three years remain as previously contracted. The subsequent five years are a seasonal charter under which the ship is committed to BG Group for seven consecutive months for which it will pay a fixed monthly charter hire and available to accept other charters for the remaining five months. This seasonal charter is expected to generate approximately $14M-16M of EBITDA1 during the seven months on hire and will provide GasLog with the opportunity to secure additional upside in a period of potentially strong demand. | |
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News For GLOG;BRGYY From The Last 14 Days Check below for free stories on GLOG;BRGYY the last two weeks. |
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| May 15, 2013 | | 06:09 EDT |  | GLOG | GasLog reports Q1 adjusted EPS 5c, consensus 6c
 Subscribe for More Information | | | May 14, 2013 | | 15:30 EDT | | GLOG | Notable companies reporting before tomorrow's open
Subscribe for More Information | | | May 9, 2013 | | 05:34 EDT |  | BRGYY | BG Group upgraded to Buy from Hold at Deutsche Bank
Subscribe for More Information | | | May 6, 2013 | | 12:43 EDT | | BRGYY | BG Group signs natural gas deals with CNOOC
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