LNG

Nov 5 (LNGJ) - Monaco-based LNG tanker fleet owner GasLog posted an 84 percent plunge in third-quarter profits to $4.9 million from $31M in the 2014 quarter. The decrease was attributed to an increase in losses on swaps, rising costs, higher outstanding debt and lower daily hire rates for vessels operating in the current weak spot market. Paul Wogan, Chief Executive, said:  "GasLog continued to execute on its long-term strategy during the quarter. Our contracted vessels performed strongly. GasLog also completed its largest financing to date, raising $1.3 billion to fund its eight vessel newbuild program."