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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) has announced its quarterly distributions for preference units, effective in March 2022. The distributions are as follows:
- 8.625% Series A: $0.5390625 per unit, Record Date: March 8, Payment Date: March 15.
- 8.200% Series B: $0.5125 per unit, Record Date: March 8, Payment Date: March 15.
- 8.500% Series C: $0.53125 per unit, Record Date: March 8, Payment Date: March 15.
This announcement reflects GasLog Partners' commitment to providing returns to its investors.
GasLog Partners LP announced its annual meeting for limited partners will take place virtually on 12 May 2022. Unitholders of record as of 18 March 2022 will be eligible to vote at the meeting and any adjournments. A formal notice and proxy statement will be sent to unitholders shortly. GasLog Partners operates a fleet of 15 LNG carriers with an average capacity of approximately 158,000 cbm. The partnership is publicly traded under the symbol GLOP and operates as a C corporation for tax purposes.
GasLog Partners LP (NYSE: GLOP) reported its Q4 and full-year 2021 financial results, highlighting revenues of $88.2 million for Q4 and $326.1 million for the year. The Partnership experienced a net loss of $70.8 million in Q4, attributed to a non-cash impairment loss of $104 million on five vessels. Adjusted EBITDA for Q4 was $64.2 million, while annual adjusted profit reached $99.8 million. The company repurchased $6 million of preference units in Q4, totaling $18.4 million for 2021. A cash distribution of $0.01 per common unit was declared for Q4 2021, signaling ongoing shareholder returns.
GasLog Partners LP (NYSE: GLOP) will announce its fourth quarter 2021 financial results on January 27, 2022, before market opening.
A conference call with senior management will occur at 8:30 a.m. EST on the same day, covering the operational and financial performance, followed by a Q&A session.
Dial-in numbers for the call include: +1 855 253 8928 (USA) and +44 20 3107 0289 (UK), among others. A live webcast will be available on the company’s Investor Relations page, with a replay offered afterward.
GasLog Ltd. announced the retirement of its CEO, Paul Wogan, effective March 9, 2022. Wogan will assist in a smooth transition until June 30, 2022. The board has appointed Paolo Enoizi, currently COO and CEO of GasLog Partners, as the new CEO starting March 10, 2022. Chairman Peter Livanos thanked Wogan for his decade of leadership that positioned GasLog among the top LNG shipping companies. Enoizi's previous experience suggests a promising future for the company.
GasLog Ltd. has announced the order of four new 174,000 cubic meter liquefied natural gas carriers, featuring advanced MEGI propulsion technology, from Daewoo Shipbuilding and Marine Engineering. These vessels are scheduled for delivery in 2024 and 2025. Currently, GasLog operates a fleet of 39 LNG carriers, including 35 in the water and four under construction. The company aims to support international energy companies in their LNG logistics chain.
GasLog Partners LP (NYSE: GLOP) announced its quarterly distributions on preferred units, detailing payments for three series of cumulative redeemable perpetual preference units. The Series A units will distribute $0.5390625 per unit, Series B units $0.5125, and Series C units $0.53125. All distributions are set for December 15, 2021, with a record date of December 8, 2021.
This announcement reflects the company's ongoing commitment to returning value to shareholders through consistent distributions.
GasLog Ltd. announced a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preference Shares. This dividend will be payable on January 3, 2022, to all shareholders on record as of December 31, 2021. GasLog operates a fleet of 35 LNG carriers, with 17 owned directly by the company. This announcement underscores the company’s commitment to returning value to shareholders while continuing to support international energy logistics.
GasLog Partners LP (NYSE: GLOP) reported strong financial results for Q3 2021, with revenues reaching $80.5 million, a 11% increase year-over-year. Profit surged to $26.5 million, a 123% rise, and earnings per unit hit $0.37, up 311%. The Partnership signed a one-year time charter with TotalEnergies and extended a contract with Trafigura. Significant debt repayments of $36.1 million were made in Q3, totaling $90.9 million for the year. A cash distribution of $0.01 per common unit was declared. The LNG market showed growth with global demand at 92 million tonnes, leading to increased charter rates.
GasLog Partners LP has announced the sale and leaseback of the GasLog Shanghai to China Development Bank Leasing for $120 million, generating approximately $20 million in net liquidity. The vessel, a 155,000 cbm LNG carrier built in 2013, will be bareboat chartered back for five years, ending in October 2026. CEO Paolo Enoizi stated that this move will enhance the Partnership's cost base efficiency while maintaining operational control of the vessel. The Partnership expects strong demand for LNG and LNG shipping as the industry transitions to greener fuel sources.
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