◇ GasLog orders a 180,000m³ LNG Carrier, with option for one more by the end of the year

 - market leading BOR of 0.0075% is the world''s first

Samsung Heavy Industries(SHI) won the first order for 2016. SHI revealed on 29th September 2016 that they received an order to build a 180,000m³ LNG carrier for about KRW 200bn. The order comes with an option to build one more carrier with validity till the end of the year.

SHI will apply the newest Mark V cargo containment system, which significantly reduces the boil-off rate within the membranes, to the LNG carrier which will be the world''s first of the sort.

While transporting natural gas as LNG, liquefied natural gas in the cargoes of an LNG carrier constantly boils to gas at a rate of about 0.1% per day. The new membrane cargo system reduces this boil-off rate to 0.075%.

The LNG carriers usually uses gas produced in boil off as fuel for the engine. Surplus gas even after being used as fuel is either burned off in a separate burner or liquidated back into the cargo using the re-liquefaction system.

Low boil-off rate reduces production of the surplus gas greatly, effectively decreasing the amount burned off and the cost to operate the re-liquefaction system. The new LNG carrier, with the newest cargo containment system, will improve cost-effectiveness of transporting natural gas, which will surely be welcomed news for the extremely cost-sensitive market.

An SHI official explained “SHI has been cooperating with GTT, world''s leader in LNG containment technologies, since March 2015 including mock-up construction and various tests. This fruited in winning an order for the world''s first LNG carrier with the new cargo containment system. SHI will continue to lead market with cost-effective technologies.”