GasLog Partners LP reports developments tied to its LNG carrier ownership and operations, including operating results, fleet activity, and distributions on its Series A, Series B, and Series C preference units. The partnership is a master limited partnership that has elected C corporation treatment for U.S. income tax purposes.
Recurring company news also covers material agreements, shareholder voting matters, governance updates, capital-structure disclosures, annual reporting, and financial performance for a fleet of wholly owned and bareboat-chartered liquefied natural gas carriers.
GasLog Ltd. has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2022, available on its website. The report includes comprehensive audited financial statements for 2022. Additionally, the company declared a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preference Shares. This dividend is payable on April 3, 2023, with a record date of March 31, 2023.
GasLog operates a fleet of 38 LNG carriers, supporting international energy companies in their LNG logistics. The fleet includes vessels on the water, under construction, and in conversion.
GasLog Partners LP (NYSE: GLOP) reported strong financial results for Q4 and the full year ended December 31, 2022. Quarterly revenues reached $105.0 million, a 19% increase year-over-year, with profits of $40.6 million. For the year, revenues totaled $371.0 million, with annual profit soaring to $119.0 million, marking a remarkable turnaround from a loss of $70.8 million in Q4 2021. The partnership extended key charters significantly, securing approximately $729.0 million in future contracted revenues. An unsolicited acquisition proposal from GasLog Ltd. at $7.70 per common unit reflects market valuation efforts. Additionally, cash distribution of $0.01 per common unit was declared for Q4 2022.
GasLog Partners LP (NYSE: GLOP) has received an unsolicited non-binding acquisition proposal from GasLog Ltd. The offer entails a cash value of $7.70 per common unit, which includes a special distribution of $2.33 per unit prior to the transaction's closing. The Partnership's board has authorized its conflicts committee, composed of non-affiliated directors, to evaluate this proposal. The outcome remains uncertain as the proposal is non-binding and contingent upon the execution of definitive agreements. GasLog Partners operates a fleet of 12 wholly-owned LNG carriers and is publicly traded as a master limited partnership.
GasLog Partners LP (NYSE: GLOP) will announce its fourth quarter 2022 financial results on January 26, 2023, before market opening. A conference call is scheduled for 8:00 a.m. EDT the same day, where senior management will discuss the company's operational and financial performance. Investors can access the call via a live webcast on the GasLog Partners investor relations webpage. A replay will also be available afterwards. GasLog Partners operates a fleet of 13 LNG carriers and has elected to be treated as a C corporation for tax purposes, affecting how distributions are reported to investors.
GasLog Partners LP (NYSE: GLOP), an international LNG carrier operator, announced that upcoming U.S. Treasury and IRS regulations effective January 1, 2023, will not impact its unitholders. These regulations require a 10% tax withholding on non-U.S. partners’ interests in publicly traded partnerships taxed as partnerships. However, GasLog Partners has opted for C corporation status for U.S. federal tax, exempting its interests from these regulations. This decision ensures that international investors face no additional tax implications regarding their holdings.
GasLog Ltd. announced a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preference Shares. The dividend is payable on January 3, 2023 to shareholders of record by December 30, 2022. GasLog operates a fleet of 38 LNG carriers, enhancing its support for international energy companies. The company aims to maintain a strong position in the LNG logistics chain, underlining its commitment to shareholder returns.
GasLog Partners LP (NYSE: GLOP) reported robust financial results for Q3 2022, with revenues of $95.7 million, a 19% increase from the previous year. Profit surged by 61% to $42.7 million, with earnings per unit (EPU) at $0.69. Highlights include new time charter agreements that are expected to generate an additional $134.0 million in EBITDA. The company also completed a significant sale and lease-back transaction for $50.0 million, enhancing cash flow. Cash and cash equivalents stood at $139.0 million as of September 30, 2022.
GasLog Partners LP (NYSE: GLOP) announced its financial results for the third quarter of 2022 will be released before market opens on October 27, 2022. A conference call to discuss the results will be held at 8:00 a.m. EDT on the same day, featuring a review of operational and financial performance by senior management, followed by a Q&A session. A live webcast will be available on the Investor Relations page of the GasLog Partners website. Registration for the conference call is required for dial-in access, with a replay accessible later on their site.
GasLog Partners LP (NYSE: GLOP) reported its Q2 2022 financial results, showing revenues of $84.9 million, a 21% increase from Q2 2021. Adjusted profit surged to $26.3 million, up 107%, driven by higher spot market demand and successful charter agreements for two vessels. However, net profit decreased to $0.8 million due to a $28 million impairment loss. The partnership repurchased $8.7 million in preference units and reduced debt by $19.9 million. A cash distribution of $0.01 per common unit was declared for Q2 2022.
GasLog Partners LP (NYSE: GLOP) will announce its financial results for Q2 2022 on July 28, 2022, before market opening. A conference call with senior management will follow at 8:00 a.m. EDT to discuss the operational and financial performance, accompanied by a Q&A session. Dial-in numbers for the call are provided for various regions, and a live webcast will be accessible on their Investor Relations page. GasLog Partners, which operates LNG carriers, manages a fleet of 14 vessels and one charter vessel.