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.


Singapore-based Eastern Pacific has exercised options for two mid-sized LPG carriers at Hyundai Mipo Dockyard. The two 38,000m³ vessels are scheduled for delivery by 31 July 2017, said HMD in a Korea Exchange filing.
Issues with safety equipment contributed to the detention of a Dorian LPG-owned ship in the UK. The 5,000-cbm Grendon (built 1996) was held in Fawley on 7 July after inspectors found three deficiencies considered grounds for detention, the Maritime and Coastguard Agency (MCA) says.
Continuing weak demand and excess tonnage are expected to depress LNG shipping earnings in the near term. But longer term the sector could face vessel shortages as ordering slows and liquefaction projects come on stream, according to the LNG Shipping Market Annual Review and Forecast report published by shipping consultancy Drewry.
Freight rates to haul LPG on very large gas carriers continue to soften but remain above $100/tonne. As of yesterday, the Baltic Exchange assessed the rate for the benchmark Gulf-Far East route at $103.857/tonne, down from $104.286/tonne a week ago.

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