Gaslog offers LNG vessel for sale

LNG shipowner Gaslog is offering the 155,000m³ Gaslog Savannah for sale, but is not expecting to sell anymore vessels at present, the firm told Argus today.

The Gaslog Savannah, which has a tri-fuel diesel-electric (TFDE) propulsion, is being marketed for the firm by shipbroker Affinity Shipping.

The sale is not part of a wider move by Gaslog to update its fleet, the firm said.

The Gaslog Savannah's capacity is smaller than the average vessel size in the global LNG carrier's fleet, with most vessels having capacities closer to 174,000m³.

Shipowners and builders are moving towards an industrial standard capacity for newer gas injection (two-stroke) vessels, Howe Robinson broker Debbie Turner said in September, after a similar move took place for smaller TFDE vessels in 2013.

Gaslog had been part of the Cool Pool joint venture with Bermuda-based shipowner Golar LNG, which focused on spot charters of up to 12 months. But Gaslog pulled out of the venture in June this year, removing its six TFDE vessels from the Cool Pool after Golar announced that it was to spin off its own TFDE fleet.