Greek owner and operator of LNG carriers GasLog has completed the sale of GasLog Salem LNGC to a subsidiary of China Development Bank Leasing (CDBL) for $128 million.

GasLog sells GasLog Salem LNG carrier to CDBL
Illustration only; Courtesy of GasLog

By doing this, GasLog is releasing approximately $22 million of incremental liquidity.

The company will also bareboat charter-in the vessel from CDBL for a period of five years. This charter ends in October 2026, with no obligation to purchase the vessel at the end of the lease.

The ship is a 155,000 cubic meter LNG carrier with tri-fuel diesel-electric propulsion. Samsung Heavy Industries constructed it back in 2015.

Meanwhile, GasLog Salem is currently on charter to Clearlake Shipping, a subsidiary of Gunvor Group until March 2022.

This post appeared first on Offshore Energy.

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