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Stock Market & Financial Investment News

News Breaks
June 25, 2014
06:01 EDTGLOGGasLog announces two new 174,000 cubic meter LNG carriers from Hyundai
GasLog announced that it has ordered two new 174,000 cubic meter LNG carriers from Hyundai Heavy Industries in South Korea. The vessels are expected to be delivered in the second half of 2017, and marks GasLog’s first orders from the world’s largest shipbuilder. The vessels have been ordered with proven tri-fuel diesel electric propulsion with GasLog’s option to change to two stroke diesel engines with low-pressure gas injection. The delivered cost of the vessels will be in line with similar recent vessel orders. In addition, GasLog has secured up to four additional priced options from Hyundai with delivery dates in late 2017 and early 2018.
News For GLOG From The Last 14 Days
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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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