GasLog Partners seals new long-term charter with Gunvor

GasLog Partners seals new long-term charter with Gunvor

Monaco-headquartered LNG shipowner GasLog Partners has fixed 2013-built 155,000 cbm LNG carrier GasLog Shanghai to Gunvor subsidiary Clearlake Shipping on a three-and-a-half-year charter.

The charter is scheduled to commence this month, and has a variable charter rate based upon an agreed range.

Andrew Orekar, chief executive officer of GasLog Partners, commented: “I am very pleased to announce this three-and-a-half-year charter agreement with Gunvor, a new and high-quality counterparty for GasLog Partners. The charter delivers on our commitment to secure term employment for the GasLog Shanghai, strengthens the cash flow visibility of the Partnership and supports our year-on-year distribution growth guidance of 2% to 4% in 2019.”

GasLog Shanghai has just been withdrawn from The Cool Pool, a pooling agreement between GasLog and Golar LNG. It was withdrawn along with five GasLog carriers after Golar revealed plans to spin off its fleet of tri-fuel diesel electric (TFDE) propulsion ships into a new pure-play LNG shipping entity.

This latest fixture highlights a change in strategy for GasLog Partners, as The Cool Pool had focused exclusively on spot fixtures up to 12 months in duration.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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