GasLog Ltd’s newest X-DF propulsion LNG carrier is about to begin sea trials, moving the vessel one step closer to delivery and a long-term charter with Centrica
Under construction at South Korea’s Samsung Heavy Industries (SHI), the newbuild 180,000-m3 LNG carrier GasLog Windsor is about to start week-long sea trials, where the shipyard will test all of its systems and capabilities at sea, said GasLog in a social media post.
The vessel was launched in May 2019 by SHI, with delivery set for April. GasLog Windsor will operate under a long-term charter to the UK’s Centrica Energy.
“We have agreed a seven-year time charter party with GasLog Ltd for LNG vessel HN2213, GasLog Windsor, which we will incorporate into our shipping portfolio once we have taken stewardship,” a Centrica spokesperson told LNG Shipping & Terminals.
GasLog Windsor, HN2213, is 100% owned by GasLog Ltd and one of seven newbuild LNG carriers currently on order by the Greek shipowner.
All of the newbuilds are being constructed with WinGD X-DF low-pressure, two-stroke main engines and will be delivered in 2020 and 2021.
GasLog Ltd has signed an export credit facility-backed debt financing of US$1.05Bn with 12 international banks for its current newbuilding programme, which will cover the balance due to the shipyard on delivery of the vessels. All seven newbuilds will deliver into firm long-term charters. Four of the newbuilds will be chartered to Cheniere, two to Centrica and one to Jera.
Overall, GasLog’s consolidated fleet consists of 35 LNG carriers. Of these, 19 (12 on the water and seven on order) are owned by GasLog, one has been sold to a subsidiary of Mitsui Co and leased back by GasLog under a long-term bareboat charter and the remaining 15 LNG carriers are owned by the company’s subsidiary, GasLog Partners.