GasLog to order more LNGCs
LNG carrier owner GasLog could turn to the bond market to replenish cash.
DNB Markets estimated a $50m bond issue from the New York-listed company would prevent a liquidity squeeze which is building up for early 2015.
Also, tapping the bond market would leave room for GasLog to take up options on two LNG carrier newbuildings at Samsung Heavy Industries in Korea.
DNB said, “We believe the company would be able to declare the options by just postponing delivery by one year in 2016.”
Sentiment: Strong Buy