Welcome to our dedicated page for GLOP news (Ticker: GLOP), a resource for investors and traders seeking the latest updates and insights on GLOP stock.
GasLog Partners LP (NYSE: GLOP) is a growth-oriented limited partnership specializing in the ownership, operation, and acquisition of liquefied natural gas (LNG) carriers. The company’s operations are crucial for transporting LNG worldwide, ensuring the steady supply of this vital energy resource.
Core Business: GasLog Partners owns a fleet of LNG carriers, comprising eleven wholly-owned vessels and three on bareboat charters, with an average carrying capacity of approximately 159,000 cbm. These carriers are pivotal in the international LNG supply chain, transporting natural gas in its liquid state from producers to consumers.
Recent Achievements: On July 7, 2023, GasLog Partners announced a significant merger. The common unitholders approved a merger with GasLog Ltd., the parent company, to acquire all outstanding common units of the partnership not beneficially owned by GasLog Ltd. This merger is set to close around July 13, 2023, and involves a special cash distribution of $3.28 per common unit.
Current Projects: The partnership is actively managing its fleet to maintain high operational standards. Current efforts include ensuring the efficiency and safety of LNG transport operations to meet global energy needs.
Financial Condition: GasLog Partners is financially stable, with structured revenue streams from long-term charters. The merger with GasLog Ltd. is anticipated to further strengthen the financial posture by integrating resources and enhancing operational efficiencies.
Partnerships: The partnership operates closely with GasLog Ltd., leveraging synergies to optimize fleet operations. This strategic alliance enables better management of assets and access to broader market opportunities.
Products: The primary product of GasLog Partners is its LNG transportation service. By utilizing state-of-the-art carriers, the company ensures safe and efficient delivery of LNG to its clients across the globe.
For more details and the latest updates, visit the official website at http://www.gaslogmlp.com or contact their representative.
GasLog Partners LP (NYSE: GLOP) announced its financial results for Q1 2023, reporting revenues of $99.1 million, up by 16% year-over-year, with a profit of $36.4 million. Quarterly earnings per unit (EPU) were $0.56, while adjusted profit surged 39% to $39.3 million. A notable transaction includes a merger agreement with GasLog to acquire outstanding common units at $8.65 per unit, pending unitholder approval. The Partnership also completed a sale-leaseback of the GasLog Sydney for $140 million. Despite increased revenues, financial costs doubled to $17.4 million driven by higher interest rates. The cash distribution for Q1 was set at $0.01 per unit, with expectations for operational efficiency and debt repayment supporting a strengthened balance sheet.
GasLog Partners LP (NYSE: GLOP) will release its financial results for Q1 2023 before the market opens on April 27, 2023. Following the announcement, a conference call will take place at 8:00 a.m. EDT to discuss the results, where management will review operational and financial performance. Investors can access a live webcast of the call via the Investor Relations page on the GasLog Partners website. For those unable to attend live, a replay of the webcast will also be available. As a reminder, GasLog Partners operates a fleet of LNG carriers, comprising eleven wholly-owned carriers and three on bareboat charters, averaging 159,000 cbm capacity.
Tourlite Capital Management has urged the Board of Directors of GasLog Partners LP (NYSE: GLOP) to reconsider the
Their analysis cites that GasLog’s EBITDA projections have notably improved and a reduction in net leverage adds substantial equity value. Furthermore, they argue that the proposed distribution is misleading compared to historical dividends.
GasLog Ltd. and GasLog Partners LP have announced a definitive merger agreement whereby GasLog will acquire all outstanding common units of GasLog Partners not owned by it, at a price of $8.65 per unit. This price includes a special distribution of $3.28 per unit to unitholders and represents a 24% premium to the last trading price before the initial offer and a 31% premium to the 30-day volume-weighted average price. The merger has been unanimously approved by GasLog Partners' Conflicts Committee and Board, who recommend unitholder approval. GasLog, which owns 30.2% of GasLog Partners, has agreed to support the merger. The transaction is expected to close by the end of Q3 2023, pending approval from the majority of common unit holders and other customary conditions.
GasLog Partners LP (NYSE: GLOP) announced the filing of its Annual Report on Form 20-F for the fiscal year ending December 31, 2022, with the U.S. Securities and Exchange Commission. This report, accessible via the Partnership's website, includes complete audited financial statements for 2022. GasLog Partners operates a fleet of 12 wholly-owned LNG carriers and two bareboat chartered vessels, averaging approximately 159,000 cbm carrying capacity. The Partnership is treated as a C corporation for U.S. tax purposes, with unitholders receiving Form 1099 for distributions. For more details, visit their Investor Relations page.
FAQ
What is the market cap of GLOP (GLOP)?
What does GasLog Partners LP do?
What is the recent merger involving GasLog Partners?
How many LNG carriers does GasLog Partners own?
What is the average carrying capacity of GasLog Partners' fleet?
What financial documents do investors receive?
What is the significance of the $3.28 special cash distribution?
What are due bills in the context of the special distribution?
How does GasLog Partners ensure the safety of its LNG transport operations?
How can I contact GasLog Partners for more information?
What is the primary product of GasLog Partners?
