GasLog Partners fixes out three LNG carriers

GasLog Partners has inked new multi-month time charter agreements securing employment for three liquefied natural gas (LNG) carriers.

The US-listed owner and operator has fixed the 2013-built tri-fuel diesel electric (TFDE) GasLog Shanghai to Woodside Energy Shipping Singapore for two years, while a one-year charter has been agreed with an undisclosed energy major for the 2014-built TFDE carrier Solaris. Both ships have a capacity of 155,000 cu m.

In addition, GasLog Partners said it had sealed a deal to charter out its 2007-built 145,000 cu m steam turbine vessel Methane Heather Sally to a southeast Asian player for three years.

A $50m sale and lease-back has also been executed for the same vessel, with no repurchase option or obligation. The deal is expected to complete in the fourth quarter and release around $17m of incremental net liquidity.

The company’s chief executive Paolo Enoizi said the charters should add about $134m of incremental Ebitda and improve cash flow visibility.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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