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Stock Market & Financial Investment News

News Breaks
August 15, 2013
17:43 EDTGLOGGasLog announces new orders, charters
GasLog 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 3Q16 and 4Q16 2016, respectively, and upon delivery will commence firm seven-year charters with a subsidiary of BG Group. Due to the benefits accrued from building a series of ships, these vessels will have a lower delivered cost than the 2 vessels ordered in February and are expected to generate a combined annualized EBITDA of approximately $46M–$47M over the first twelve months of operation. In addition, GasLog has secured up to 6 additional options from Samsung, 4 of which are priced, with delivery dates through 2017.
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April 21, 2015
07:13 EDTGLOGGasLog announces time charter of up to 9 newbuildings to BG Group
GasLog (GLOG) and GasLog Partners (GLOP) announced that GasLog has agreed to charter to Methane Services, a subsidiary of BG Group (BRGYY), three of GasLog’s uncontracted newbuilds that are currently under construction. MSL also has an option to elect to charter an additional six newbuilds provided it makes that election within 2015. The highlights of this transaction are as follows: MSL will charter three newbuildings commencing mid-2018 and early 2019 for average initial terms of approximately 9.5 years at attractive rates; These charters will add approximately $845M of fixed rate revenue to GasLog’s existing contracted revenue backlog; MSL has an option exercisable within 2015 to charter an additional six newbuildings for average initial terms of approximately 10 years; The six option vessels would add approximately $1.8B of fixed rate contracted revenue should MSL exercise its option.

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