GasLog Partners posts lower Q4 profit, but 2017 numbers rise

Image courtesy of GasLog Partners

GasLog Partners, the New York-listed spinoff of LNG shipper GasLog reported a profit of $28.9 million for the fourth quarter, a drop of 16 percent year-on-year.

The shipping company that owns 12  LNG carriers said in a statement that this was due to a decrease of $4.4 million in profit from operations.

The profit was impacted by the scheduled dry-docking of the LNG carrier GasLog Shanghai completed in November 2017.

For the full-year od 2017, profit rose 22 percent to $112.8 million, boosted by the full operation of the GasLog Greece and the GasLog Geneva, delivered in March 2016 and September 2016, respectively.

Fourth-quarter revenues dropped 2 percent to $77.3 million while full-year revenues rose 10 percent to $311.4 million.

“Following the successful acquisition of the Solaris, GasLog Partners delivered our highest-ever quarterly partnership performance results for revenues, EBITDA and distributable cash flow, among other metrics,” said Andrew Orekar, chief executive officer.

The company increased its cash distribution for the fifth consecutive quarter to $0.52 per unit, or $2.09 per unit annualized, while maintaining conservative distribution coverage.

 

Share this article

Follow LNG World News

Events>

<< Aug 2018 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event.

read more >

Oil and Gas 2018

The conference will cover a wide range of topics and allow participants to discuss about the new technologies developed in Petroleum…

read more >

Gastech Exhibition & Conference 2018

The leading exhibition and conference for the global gas, LNG and energy industries.

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >