Peter Livanos-controlled GasLog has locked away two of its liquefied natural gas (LNG) carriers on time charter agreements.
In its second-quarter results statement, the Greek gas ship owner and operator said it had agreed a multi-year charter deal with Kansai Electric-affiliated KE Fuel International for the 2014-built 155,000 cu m tri-fuel diesel electric (TFDE) carrier Solaris. The ship will come off contract in October and go on charter with the Japanese utility until March 2030.
During the second quarter, GasLog also secured employment for the 2013-built 155,000 cu m GasLog Sydney with Centrica’s subsidiary Pioneer Shipping. The bareboat chartered in vessel from the Hong Kong-listed leasing unit of China Development Bank has been fixed until May 2024.
In addition, the company revealed a one-year charter extension with Chinese independent CNTIC VPower Energy for the 2007-built 145,000 cu m Methane Alison Victoria until October 2024.
GasLog completed a merger with its affiliate, GasLog Partners creating an entity that owns and operates 33 LNG carriers, excluding four newbuilds set to deliver from South Korea in 2024 and 2025, all of which have already been fixed on long-term contracts. The company logged a Q2 net profit of $73.4m on revenues of $227.7m.