GasLog Reports Higher Profit in 2Q16

Maritime Activity Reports, Inc.

July 29, 2016

Photo: GasLog Partners LP

Photo: GasLog Partners LP

 GasLog Partners LP has released its financial results for 2Q16, boasting a profit of US$17.38 million – 38% higher than in 2Q15. Its demand outlook for LNG carriers with long-term charters remains positive.

The company also generated US$49.64 million in revenue – 51% higher than 2Q15 – and an EBITDA of US$35.56 million – also 51% higher than 2Q15.
Gaslog Partners LP says for Q2, gaslog partners has declared a cash distribution of $0.478 per unit. Its says quartely earnings per unit $0.52.
The CEO of the company, Andrew Orekar, said: “We are pleased to report another quarter of strong financial results for GasLog Partners. Revenue, EBITDA, and distributable cash flow were in line with our expectations and include the impact of Methane Rita Andrea's scheduled dry-docking. The Partnership has no additional scheduled dry dockings until 2018."
"In the shorter term market, spot market rates through 2016 have plateaued around multi-year lows. Whilst it is too early to predict a sustained increase in the spot market, there has been a marked uptick in spot charter terms in recent weeks, with slightly improved freight rates and the ability to achieve round-trip economics on a more frequent basis," says a staement from the company.
Maritime Reporter Magazine Cover May 2019 - Propulsion Annual - Green Marine Tech

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News