GasLog Partners Announces Sale and Leaseback of GasLog Shanghai
October 13 2021 - 9:15AM
GasLog Partners LP ("GasLog Partners" or the "Partnership")(NYSE:
GLOP) today announced the sale and leaseback of the GasLog Shanghai
to a wholly owned subsidiary of China Development Bank Leasing
(“CDBL”) for $120 million, releasing approximately $20 million of
incremental net liquidity. Concurrent with the sale, the
Partnership 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 Shanghai is a 155,000 cubic meter LNG carrier with
tri-fuel diesel electric propulsion built in 2013. The vessel is
currently on charter to Clearlake Shipping Pte. Ltd., a subsidiary
of Gunvor Group Ltd. until November 2022.
Paolo Enoizi, CEO of GasLog Partners LP stated, “With the
completion of the sale and leaseback of the GasLog Shanghai the
Partnership will not only have additional capacity to further
reduce its cost base but will also maintain operational and
commercial control of the vessel for the next five years. We expect
this period to be robust for LNG and LNG shipping demand as the
world transitions to more environmentally friendly fuel
sources.”
Contacts:
Joseph NelsonHead of Investor RelationsPhone: +1
212-223-0643
Email: ir@gaslogmlp.com
About GasLog Partners
GasLog Partners is a growth-oriented owner, operator and
acquirer of LNG carriers. The Partnership’s fleet consists of 14
LNG wholly owned carriers with an average carrying capacity of
approximately 158,000 cbm as well as 1 vessel on a bareboat
charter. GasLog Partners is a publicly traded master limited
partnership (NYSE: GLOP) but has elected to be treated as a C
corporation for U.S. income tax purposes and therefore its
investors receive an Internal Revenue Service Form 1099 with
respect to any distributions declared and received. Visit GasLog
Partners’ website at http://www.gaslogmlp.com.
Gaslog Partners (NYSE:GLOP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gaslog Partners (NYSE:GLOP)
Historical Stock Chart
From Apr 2023 to Apr 2024