GasLog Ltd. Announces New Orders

  GasLog Ltd. Announces New Orders

Business Wire

MONACO -- May 9, 2014

GasLog Ltd. ("GasLog" or the "Company") (NYSE:GLOG) today announced that it
has ordered two new 174,000 cubic meter LNG carriers from Samsung Heavy
Industries Co., Ltd. ("Samsung") in South Korea. The vessels are expected to
be delivered in 2017 and are sister vessels to the four ordered in 2013 for
delivery in 2016. The vessels have been ordered with the proven tri-fuel
diesel electric (TFDE) propulsion with the option to change to two stroke
diesel engines with low-pressure gas injection (“LP-2S”). The vessels will
also benefit from a low boil off rate of 0.09%.

GasLog has achieved what we believe to be very attractive commercial terms for
these vessels. In addition, GasLog has secured two additional priced options
from Samsung with delivery dates in late 2017 and early 2018. Further, if the
Company exercises these two options, Samsung has agreed to grant us two
additional options.

Paul Wogan, CEO, said “We are delighted to be ordering additional highly
attractive LNG carriers. These orders reinforce our strategy of building high
quality ships at competitive prices at first class LNG shipyards. It also
positions GasLog to continue to benefit from the long-term secular growth of
the LNG market. We have once again ordered new vessels from Samsung because of
their solid track record for delivering our vessels on time and on budget.”

About GasLog Ltd.

GasLog is an international owner, operator and manager of LNG carriers.
Following the recently announced agreement to purchase three additional LNG
carriers from an affiliate of BG Group, GasLog’s fleet will include 23 wholly
owned LNG carriers (including 14 ships delivered and nine LNG carriers on
order) and GasLog will have 6 LNG carriers operating under its technical
management for third parties. In connection with the recently announced
initial public offering of GasLog Partners LP, three of GasLog’s vessels in
operation will be contributed to GasLog Partners LP upon closing of the
initial public offering. GasLog’s principal executive offices are located at
Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco.

Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the
Private Securities Litigation Reform Act of 1995. The reader is cautioned not
to rely on these forward-looking statements. All statements, other than
statements of historical facts, that address activities, events or
developments that the Company expects, projects, believes or anticipates will
or may occur in the future, including, without limitation, future operating or
financial results and future revenues and expenses, future, pending or recent
acquisitions, general market conditions and shipping industry trends, the
financial condition and liquidity of the Company, cash available for dividend
payments, future capital expenditures and drydocking costs and newbuild
vessels and expected delivery dates, are forward-looking statements. These
statements are based on current expectations of future events. If underlying
assumptions prove inaccurate or unknown risks or uncertainties materialize,
actual results could vary materially from our expectations and projections.
Risks and uncertainties include, but are not limited to, general LNG and LNG
shipping market conditions and trends, including charter rates, ship values,
factors affecting supply and demand, technological advancements and
opportunities for the profitable operation of LNG carriers; our ability to
enter into time charters with our existing customers as well as new customers;
our contracted charter revenue; our customers’ performance of their
obligations under our time charters and other contracts; the effect of
volatile economic conditions and the differing pace of economic recovery in
different regions of the world; future operating or financial results and
future revenues and expenses; our future financial condition and liquidity;
our ability to obtain financing to fund capital expenditures, acquisitions and
other corporate activities, funding by banks of their financial commitments,
and our ability to meet our obligations under our credit facilities; future,
pending or recent acquisitions of ships or other assets, business strategy,
areas of possible expansion and expected capital spending or operating
expenses; our expectations relating to dividend payments and our ability to
make such payments; our ability to enter into shipbuilding contracts for
newbuildings and our expectations about the availability of existing LNG
carriers to purchase, as well as our ability to consummate any such
acquisitions; our expectations about the time that it may take to construct
and deliver newbuildings and the useful lives of our ships; number of off-hire
days, drydocking requirements and insurance costs; our anticipated general and
administrative expenses; fluctuations in currencies and interest rates; our
ability to maintain long-term relationships with major energy companies;
expiration dates and extensions of charters; our ability to maximize the use
of our ships, including the re-employment or disposal of ships no longer under
time charter commitments; environmental and regulatory conditions, including
changes in laws and regulations or actions taken by regulatory authorities;
requirements imposed by classification societies; risks inherent in ship
operation, including the discharge of pollutants; availability of skilled
labor, ship crews and management; potential disruption of shipping routes due
to accidents, political events, piracy or acts by terrorists; and potential
liability from future litigation. A further list and description of these
risks, uncertainties and other factors can be found in our Annual Report filed
with the SEC on March 27, 2014. Copies of the Annual Report, as well as
subsequent filings, are available online at www.sec.gov or on request from us.
We do not undertake to update any forward-looking statements as a result of
new information or future events or developments.

Contact:

GasLog Ltd.
Paul Wogan, Phone: +377 9797 5115
(CEO)
or
Simon Crowe, Phone: +377 9797 5115
(CFO)
or
Jamie Buckland, Phone: +377 9797 5118
(Investor Relations)
or
Ray Posadas, Phone: +1 203 428 3231
(Solebury Communications, NYC)
Email: ir@gaslogltd.com
 
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