Welcome to our dedicated page for Gaslog Partners Lp news (Ticker: GLOP), a resource for investors and traders seeking the latest updates and insights on Gaslog Partners Lp stock.
GasLog Partners LP (GLOP) has been an international owner, operator and acquirer of liquefied natural gas (LNG) carriers, and its news flow reflects developments in LNG shipping, capital structure decisions and corporate transactions. Company press releases have regularly covered quarterly and annual financial results, charter activity for specific LNG carriers and changes in its security profile.
News items for GasLog Partners include announcements of time charter extensions for tri‑fuel diesel electric and steam LNG carriers, sale and lease‑back transactions for individual vessels, and updates on revenues, profit measures and operating costs. The partnership has also reported on distributions for its Series A, Series B and Series C cumulative redeemable perpetual fixed to floating rate preference units, as well as activity under its preference unit repurchase program.
A major theme in recent coverage is the Agreement and Plan of Merger with GasLog Ltd. Press releases dated April 6, 2023 and July 7, 2023 describe the proposed acquisition of all outstanding common units not beneficially owned by GasLog, the voting results of the special meeting of common unitholders and the declaration of a special cash distribution. On July 13, 2023, GasLog Partners announced the closing of the acquisition by GasLog Ltd. and the suspension of trading in its common units on the New York Stock Exchange, with delisting expected.
Investors and observers using this news page can review how GasLog Partners communicated its financial performance, fleet management decisions, distribution policies and the steps leading to the acquisition of its publicly held common units. The archive of press releases and related reports provides context on the partnership’s role in LNG shipping and its transition following the merger with GasLog Ltd.
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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.