GasLog To Sell And Leaseback GasLog Salem For $120M

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  • GasLog Ltd. announces sale and leaseback of GasLog Salem
  • sale of GasLog Salem to a wholly-owned subsidiary of China Development Bank Leasing (“CDBL”) for $128 million
  • GasLog will bareboat charter-in the vessel from CDBL for a period of 5 years, ending in October 2026
  • the GasLog Salem is a 155,000 cubic meter LNG carrier with tri-fuel diesel-electric propulsion built in 2015
  • the vessel is currently on charter to Clearlake Shipping Pte. Ltd., a subsidiary of Gunvor Group Ltd. until March 2022

GasLog Ltd announced the completion of the sale of GasLog Salem to a wholly-owned subsidiary of China Development Bank Leasing (“CDBL”) for $128 million, releasing approximately $22 million of incremental liquidity says an article published on their website.

Gaslog to bareboat charter

Concurrent with the sale, GasLog will bareboat charter-in the vessel from CDBL for a period of 5 years, ending in October 2026, with no obligation to purchase the vessel at the end of the lease.

The GasLog Salem

The GasLog Salem is a 155,000 cubic meter LNG carrier with tri-fuel diesel-electric propulsion built-in 2015. The vessel is currently on charter to Clearlake Shipping Pte. Ltd., a subsidiary of Gunvor Group Ltd. until March 2022.

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Source: Gaslog

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