GasLog Ltd. Announces Sale and Leaseback of GasLog Salem
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. 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 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.
Source: GasLog Ltd.