GasLog Partners Signs Multiple New Charter Agreements
GasLog Partners has announced that it has entered into agreements with a new customer for two new charters plus options for an additional two charters. The agreements include an approximately three and a half year charter for GasLog Santiago commencing in the third quarter of 2018 and a one year charter for a GasLog Partners 145,000 cubic meter (cbm) steam vessel (either Methane Jane Elizabeth or Methane Alison Victoria as nominated by the Partnership) commencing in the fourth quarter of 2019. The charterer has options to extend the GasLog Santiago charter for up to an additional seven years and the steam vessel charter for up to an additional four years, both at escalating rates.
Recent Vessel Sales: September 2014
Vessel sales for September 2014 (as of October 1) as prepared by Shipping Intelligence, Inc., New York.
GasLog Closes First Option Vessels Dropdown
GasLog Ltd. announced today the closing of the sale of two modern liquefied natural gas (“LNG”) carriers, the Methane Jane Elizabeth and Methane Rita Andrea, to GasLog Partners LP for an aggregate price of $328 million (the “Transaction”). The purchase price was paid by a combination of cash and assumed debt. This milestone transaction marks the first dropdown after the Initial Public Offering (“IPO”) in May of assets from GasLog to the Partnership and is a significant step for both companies. GasLog continues to seek opportunities to grow its fleet through a combination of newbuildings and attractive, accretive acquisitions. The proceeds…
GasLog Partners' First Option Vessels Acquisition for $328 mi
GasLog Partners LP and GasLog Ltd. announced today that they have entered into an agreement for the Partnership to purchase from GasLog, the sole member of the Partnership’s general partner and the Partnership’s majority unitholder, 100% of the shares in the entities that own and charter the Methane Jane Elizabeth and Methane Rita Andrea, modern liquefied natural gas carriers built in 2006, each with a capacity of 145,000 cubic meters, for an aggregate purchase price of $328 million. The Acquisition is subject to the Partnership obtaining the funds necessary to pay the purchase price and the satisfaction of certain other closing conditions. The Partnership expects to finance the acquisition with a combination of equity and the assumption of the vessels’ existing credit facilities.
