Monaco: GasLog Q1 Revenues at USD 21.8 Mln

May 16, 2013

GasLog, an international owner, operator and manager of LNG carriers, said its revenues were $21.8 million for the quarter ended March 31, 2013 ($16.6 million for the quarter ended March 31, 2012). The increase is mainly attributable to the delivery of the two newbuildings.

Profit was $5.9 million for the quarter ended March 31, 2013 ($2.2 million for the quarter ended March 31, 2012).

Mr. Paul Wogan, Chief Executive Officer, stated “This has been a good quarter for GasLog. We continued to execute on the business plan that we outlined at the time of our IPO with the delivery of two newbuildings on budget and ahead of schedule.

“All four vessels in the fleet achieved 100% utilization. We announced the further growth of our fleet with the order of two newbuildings at Samsung for 10-year charter to a subsidiary of BG Group plc.

“We continue to be excited about opportunities both to optimize our capital structure and utilize our platform for further accretive growth.”

[mappress]
LNG World News Staff, May 16, 2013