Monaco-based GasLog, owner and operator of LNG tankers, is launching the “GasLog 40:17” Vision to grow its fleet to 40 vessels by the end of 2017 through a combination of newbuildings and attractive M&A opportunities.
“A fleet of 40 vessels would give the GasLog platform additional size and scale in this growing market,” the company said in a statement on Tuesday.
“As long-term charters are placed against new vessels, the visible pipeline of dropdown assets for GasLog Partners would increase, driving both its LP and GP distribution growth and we believe this results in a compelling sum of the parts valuation for GasLog through its ownership interest in the LP and GP interests and Incentive Distribution Rights in GasLog Partners,” it added.
GasLog’s wholly owned fleet consists of 20 LNG carriers, including 10 ships in operation and 10 LNG carriers on order. The company has six LNG carriers operating under its technical management for third parties.
LNG World News Staff; Image: GasLog