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Stock Market & Financial Investment News

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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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