GasLog Partners’ profit soars

GasLog Partners, the Monaco-based owner and operator of LNG carriers posted a 101 percent jump in profit for the third quarter, compared to the same period last year.

Company’s profit jumped from $9,5 million for the quarter ended September 30, 2014 to $19,2 million for the third quarter 2015.

The company also posted a 52 percent increase on the $12,6 million profit posted in the second quarter of this year, the report shows.

Andrew Orekar, Chief Executive Officer, said, “GasLog Partners’ operating and financial performance this quarter has been strong. We achieved our highest ever quarterly results following the second successful drop-down acquisition since our initial public offering.”

Orekar added that GasLog Partner’s fleet is 100% contracted through May 2018, when the company expects a significantly increased demand for LNG shipping.

GasLog Partners revealed in the quarterly report that the increased results are attributable to the additional operating days in the partnership’s fleet deriving from the acquisitions of five LNG tankers.

The shipping company acquired the Methane Rita Andrea and the Methane Jane Elizabeth in September of 2014, and the Methane Alison Victoria, the Methane Shirley Elisabeth and the Methane Heather Sally in July this year.

LNG World News Staff; Image: BG Group