Liquefied natural gas (LNG) carrier operator GasLog took delivery of the GasLog Wales, which is a 180,000m³ cargo capacity LNG carrier.
The LNG carrier is equipped with a dual fuel medium speed propulsion (X-DF) and Mark III Flex Plus containment system.
GasLog noted that the vessel immediately started a 12-year charter with the principal LNG shipping firm of Japan’s Jera.
GasLog CEO Paul Wogan said: “I am very pleased to announce the delivery of the GasLog Wales and commencement of her 12-year charter to JERA, one of the world’s largest LNG buyers.
“The vessel is the second of seven vessels we will be taking delivery of through the third quarter of 2021, representing approximately $145m of incremental EBITDA per annum once fully delivered.
“I want to thank our crew, site team and shore staff, as well as our partners at Samsung for their hard work and dedication in delivering the GasLog Wales safely and on budget, despite the many challenges presented by the Covid-19 pandemic.”
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By GlobalDataThe company did not report any confirmed cases of Covid-19 infection among sea-going or shore-based personnel so far.
Last week, the company established a dedicated task force to manage the impact of Covid-19 at all of its businesses and operations.
GasLog reported revenue of $165.9m in its Q1 2020 results. The company has witnessed a loss of $39.4m during the first quarter of this year.
In January 2014, GasLog signed an agreement with BG Group affiliate Methane Services (MSL) to purchase three LNG carriers from the company’s fleet.
