Gas
1/2/2013

GasLog announces delivery of GasLog Shanghai



GasLog announced the delivery of the fully owned LNG carrier GasLog Shanghai, from Samsung Heavy Industries. The vessel was delivered on budget and ahead of schedule.


Immediately on delivery she commenced a medium-term charter to Methane Services Ltd. (BG Group).

The vessel is a 155,000 cubic meter Tri-Fuel Diesel Electric LNG carrier that sets new standards for efficient performance and environmental protection. The vessel is classified to the ABS ENVIRO+ notation, signifying the highest level of environmental protection and energy conservation. Furthermore the vessel is equipped with a new type of cargo compressors that will reduce the release of greenhouse gasses and offer enhanced cargo and heel management.

The vessel will be operated by GasLog LNG Services Ltd. in accordance with their Marine Health, Safety, Quality, Environmental & Energy Management system which in December was certified by ABS to be in compliance with ISO50001.

GasLog has a further four LNG carrier newbuildings due for delivery this year, as well as two in 2014 and one in 2015.


Gas

Freight rates to ship LPG on VLGCs are experiencing an upward swing for the third time this year as delays in cargo discharges in India and the diversion of tonnage to loading areas in the West-of-Suez have made vessels harder to come by.
The U.S. government should ensure that international trade of U.S. natural gas, and potentially crude oil, will offer opportunities for the domestic shipping industry, maritime groups said on Wednesday.
Rates to haul LPG on very large gas carriers are heading north again as more ships get diverted to loading areas in the west-of-Suez.

Energy is shipping’s biggest single market, accounting for 43% of the cargo moved in 2013 – 4.3 billion tonnes. Oil is still the big dog, with 2.8 billion tonnes of cargo and the coal trade has now reached 1.2 billion tonnes. Which leaves gas as the junior partner in the energy triangle with 307 million tonnes of trade in 2013, of which 244 million tonnes was LNG and an estimated 63 million tonnes was LPG.








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