Cheniere Charters Two New LNG Carriers
Monaco-based LNG tankers owner GasLog announced August 20 the signing of two new charters, each for a firm period of seven years, with US LNG exporter Cheniere Energy. While most of the company's nameplate capacity at its liquefaction facility at Sabine Pass was pre-sold, it reserved some capacity for its own use.
GasLog said that to fulfil the charters it has ordered two carriers, each with capacity to carry 174,000 m3 of LNG, from South Korean shipbuilder Samsung Heavy Industries, with expected delivery late 2020. "The rate of hire for the charters is broadly in line with mid-cycle rates and delivers returns in line with GasLog’s financial strategy," the shipowner said. It also agreed an option with Cheniere for the charter of one or two additional newbuild LNG carriers.
"Cheniere’s decision to partner with GasLog is a vote of confidence in our ability to deliver a differentiated service to our customers," said GasLog CEO Paul Wogan. The shipowner in its 2Q results earlier this month signalled a sharp improvement in LNG tanker day-rates, thanks to strong demand from Asia and increasing LNG supply availability.
Cheniere is to start chartering the GasLog Sydney, once it finishes its charter with Shell in September 2018. GasLog operates a fleet of 13 LNG carriers with an average capacity of about 156,000 m3.