By Liam Denning (Bloomberg Gadfly) -- GasLog Partners LP is an unsexy business operating in decidedly ugly times. So, naturally, it's worth a look. GasLog operates a fleet of ships ferrying cargoes of liquefied natural gas, or LNG, around the world. LNG, whereby gas is chilled to an ungodly temperature, turning it into a liquid, allows gas to be sold by tanker to … [Read more...]
BG Group Sells Pair of LNG Carriers to GasLog
LONDON, Dec 22 (Reuters) - Methane Services, a subsidiary of British energy firm BG Group, has sold two liquefied natural gas (LNG) vessels to GasLog Ltd for $460 million. GasLog said it would charter the two carriers, Methane Becki Anne and Methane Julia Louise, back to BG for periods of 9-11 years, with the option of extending the charter periods for each vessel by three … [Read more...]
GasLog Heads to Hyundai Heavy for LNG Newbuilds
Bermuda-based GasLog (NYSE:GLOG) announced Wednesday an order for two new LNG carriers from South Korea's Hyundai Heavy Industries, marking the ship owner and operator’s first new vessel order from the world’s largest shipbuilder and a departure from rival Samsung. The 174,000 cubic meter vessels have been ordered with proven tri-fuel diesel electric (TFDE) propulsion with … [Read more...]
GasLog to Acquire Trio of Samsung-Built LNG Carriers
GasLog Ltd. (NYSE:GLOG) announced an agreement has been reached today with BG Group affiiate, Methane Services Ltd. (MSL), to purchase three of MSL's LNG carriers at an aggregate cost of $468 million. The three ships targeted by GasLog will come from a group of six, steam powered, 145,000 cbm sister ships built between 2006 and 2007 at Samsung Heavy Industry, all of which … [Read more...]
GasLog Announces Plans for IPO of Master Limited Partnership
MONACO--(BUSINESS WIRE)--Jan. 13, 2014-- Regulatory News : GasLog Ltd. (“GasLog” or the “Company”) (NYSE:GLOG) today announced its Board of Directors has authorized the Company to make a confidential submission to the United States Securities and Exchange Commission (the “SEC”) of a draft registration statement on Form F-1 for an initial public offering of units in a master … [Read more...]
GasLog to Acquire LNG Carrier from STX Pan Ocean, More to Follow Says CEO
GasLog (NYSE: GLOG) announced further expansion of their shipping fleet today in the form of an additional LNG carrier from Singapore-based STX Pan Ocean. The agreement to acquire the STX Frontier, a 2010-built, 153,600 cubic meter LNG carrier will reportedly close in Q4 2013 for approximately $160 million. The vessel does not bring a charter with it, but will be … [Read more...]
GasLog Strikes Deal for Two New LNG Carriers
GasLog (NYSE: GLOG) has 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 Q3 and Q4 2016, respectively, and will commence seven-year charters with a subsidiary of BG Group upon delivery. GasLog says that the vessels will have a lower delivered … [Read more...]