Monaco-based LNG shipper GasLog said its profit for the second quarter of this year rose to $16.7 million, as compared to $3.5 million in 2014.
The company’s profit rose mainly due to “ the increase in operating days and the increase in gain on swaps ,” GasLog said on Thursday.
Revenues were $104.4 million for the quarter ended June 30, as compared to $73.2 million for the same period in 2014.
“ Despite a challenging short-term market, we have been active during the quarter and have placed our vessels on a number of short-term fixtures adding a number of new customers ,” GasLog’s CEO Paul Wogan said.
“ We believe that GasLog remains well positioned to continue growing into attractive future markets for LNG shipping and with seven of its eight undelivered vessels on long-term contracts of between seven and ten years, we have a solid financial and operational platform on which we can continue to build, ” Wogan concluded.
LNG World News Staff; Image: GasLog