STOCK TITAN

GasLog Partners (NYSE: GLOP) swings to $44.4M Q2 profit

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

GasLog Partners, an international owner and operator of LNG carriers, reported stronger results for the quarter ended June 30, 2026. Revenues were $89.5 million, up from $70.2 million a year earlier, mainly due to higher average charter rates despite fewer Steam vessels in the fleet.

The Partnership generated a profit of $44.4 million, compared with a loss of $17.9 million in 2025. The $62.3 million improvement was mainly attributable to a $34.1 million decrease in non-cash impairment losses, a $19.3 million increase in revenues and a $9.1 million decrease in depreciation as the average number of vessels declined.

In April 2026 GasLog Partners agreed to sell the Methane Rita Andrea for approximately $34.1 million, completing the sale on May 8, 2026 and recognizing an $8.2 million impairment, including $0.5 million in the quarter. Net sale proceeds were returned to GasLog as a return of capital contributions. Partners’ equity was $1,063,828 thousand at June 30, 2026.

Positive

  • $44.4M Q2 2026 profit versus a $17.9M loss a year earlier.

Negative

  • None.

Filing Explained

The filing adds a distribution disclosure: a June 24 cash distribution of $1.18 per common unit was settled immediately to GasLog, while a July 23 declaration is payable on September 15 to all unitholders of record on September 8; the supplied text does not show the latter distribution’s amount.

Revenue Q2 2026 $89.5 million Quarter ended June 30, 2026
Revenue Q2 2025 $70.2 million Quarter ended June 30, 2025
Profit Q2 2026 $44.4 million Profit for the period ended June 30, 2026
Loss Q2 2025 -$17.9 million Loss for the period ended June 30, 2025
Methane Rita Andrea sale price $34.1 million Approximate net sale price agreed in April 2026
Impairment loss related to Methane Rita Andrea $8.2 million Total impairment loss in 2026; $0.5 million in Q2 2026
Total assets June 30, 2026 $1,153,008 thousand Unaudited condensed consolidated statement of financial position
Partners’ equity June 30, 2026 $1,063,828 thousand Total partners’ equity as of June 30, 2026
Quarterly distribution per common unit $1.18 per common unit Cash distribution declared June 24, 2026 to GasLog
impairment loss financial
"resulting in the recognition of an impairment loss of $8.2 million in 2026"
An impairment loss is an accounting write-down recorded when an asset’s recorded value on the books is higher than what the company can realistically recover from using or selling it. Think of it like admitting a used car is worth much less than the loan balance and adjusting the records to match the true value; for investors, impairment losses reduce reported profits and net assets, can signal weaker future cash flow from that asset, and may affect covenants and valuation.
right-of-use assets financial
"Right-of-use assets | | | 54,960 | | | | 37,918 |"
Right-of-use assets are the rights a company gains to use a physical space or equipment under a lease agreement. They are recorded as assets on the company's balance sheet, reflecting the value of future benefits from the leased item. For investors, these assets provide a clearer picture of a company's obligations and resources related to leasing arrangements, helping to assess its financial health and operational commitments.
preference unitholders financial
"Preference unitholders | | | 279,859 | | | | 279,801 |"
return of capital contributions financial
"The net proceeds of the sale were returned to GasLog Ltd. as return of capital contributions"
voyage expenses and commissions financial
"Voyage expenses and commissions | | | (5,105 ) | | | (5,726 )"

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Learn about SEC filing dates

FAQ

How did GasLog Partners (GLOP) perform financially in Q2 2026?

GasLog Partners reported Q2 2026 revenues of $89.5 million and a profit of $44.4 million. In the prior-year quarter, revenues were $70.2 million and the Partnership recorded a loss of $17.9 million, reflecting a significant improvement in profitability.

What drove the profit improvement for GasLog Partners (GLOP) versus Q2 2025?

The $62.3 million profit improvement was mainly due to a $34.1 million decrease in non-cash impairment losses, a $19.3 million increase in revenues from higher charter rates and a $9.1 million decrease in depreciation from having a smaller fleet.

What vessel sale did GasLog Partners (GLOP) complete in 2026 and on what terms?

GasLog Partners sold the Methane Rita Andrea, a 145,000 cubic meter Steam LNG carrier built in 2006, for a net price of approximately $34.1 million. The sale was completed on May 8, 2026, with an $8.2 million impairment recognized and net proceeds returned to GasLog.

What were GasLog Partners’ (GLOP) key balance sheet figures as of June 30, 2026?

As of June 30, 2026, total assets were $1,153,008 thousand and total partners’ equity was $1,063,828 thousand. Cash and cash equivalents stood at $3,059 thousand, with current lease liabilities of 32,868 thousand and non-current lease liabilities of 11,851 thousand.

What cash distributions did GasLog Partners (GLOP) declare in mid-2026?

On June 24, 2026, GasLog Partners’ board declared a quarterly cash distribution of $1.18 per common unit to GasLog, which was settled immediately. On July 23, 2026, the board also approved cash distributions payable on September 15, 2026 to unitholders of record on September 8, 2026.

How did GasLog Partners (GLOP) perform for the first half of 2026?

For the six months ended June 30, 2026, GasLog Partners reported revenues of $158.1 million and a profit of $63.4 million. In the same period of 2025, revenues were $150.5 million and profit was $7.9 million, indicating stronger year-to-date earnings in 2026.

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES

EXCHANGE ACT OF 1934

 

For the month of July 2026

 

Commission File Number 001-36433

 

GasLog Partners LP

(Translation of registrant’s name into English)

 

c/o GasLog LNG Services Ltd.

69 Akti Miaouli, 18537

Piraeus, Greece

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F  x     Form 40-F  ¨

 

 

 

 

 

 

The press release issued by GasLog Partners LP on July 24, 2026 relating to its results for the three-month period ended June 30, 2026 is attached hereto as Exhibit 99.1.

 

EXHIBIT LIST

 

Exhibit   Description
     
99.1   Press Release of GasLog Partners LP dated July 24, 2026

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: July 24, 2026      
       
  GASLOG PARTNERS LP
       
  by /s/ Paolo Enoizi
    Name: Paolo Enoizi
    Title: Chief Executive Officer

 

 

 

 

Exhibit 99.1

 

GasLog Partners LP Reports Financial Results for the Three-Month Period Ended June 30, 2026

 

Majuro, Marshall Islands, July 24, 2026, GasLog Partners LP (“GasLog Partners” or the “Partnership”) (NYSE: GLOP-PA, GLOP-PB, GLOP-PC), an international owner and operator of liquefied natural gas (“LNG”) carriers, today reported its financial results for the three-month period ended June 30, 2026.

 

Recent Developments

 

Sale of Vessel

 

In April 2026, GasLog Partners entered into an agreement to sell, subject to customary and other closing conditions, the Methane Rita Andrea, a 145,000 cubic meter steam turbine propulsion (“Steam”) LNG carrier built in 2006, to an unrelated third party for a net sale price of approximately $34.1 million, resulting in the recognition of an impairment loss of $8.2 million in 2026, of which $0.5 million was recorded in the three months ended June 30, 2026. The net proceeds of the sale were returned to GasLog Ltd. (“GasLog”) as return of capital contributions. The sale was completed on May 8, 2026.

 

GasLog Partners Dividend Declarations

 

On June 24, 2026, the board of directors of GasLog Partners approved and declared a quarterly cash distribution of $1.18 per common unit to GasLog that was settled immediately.

 

On July 23, 2026, the board of directors of GasLog Partners approved and declared:

 

·a distribution on the 8.625% Series A Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units (“Series A Preference Units”) of $0.5390625 per preference unit (based on the fixed rate),

 

·a distribution on the 8.200% Series B Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units (“Series B Preference Units”) of $0.6242622 per preference unit (based on a floating rate equal to the Term Secured Overnight Financing Rate (“SOFR”) for a three-month tenor published by the Chicago Mercantile Exchange (“CME”) of 3.67045% plus 0.26161% of Credit Adjustment Spread (“CAS”) and spread of 5.839% per annum) and

 

·a distribution on the 8.500% Series C Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units (“Series C Preference Units”) of $0.5909122 per preference unit (based on a floating rate equal to the three-month Term SOFR as published by the CME of 3.67045% plus 0.26161% of CAS and spread of 5.317% per annum).

 

The cash distributions are payable on September 15, 2026 to all unitholders of record as of September 8, 2026.

 

Quarterly Financial Results

 

 

Amounts in thousands of U.S. dollars

  For the three months ended 
   June 30, 2025   June 30, 2026 
Revenues  $70,236   $89,501 
(Loss)/profit for the period  $(17,861)  $44,363 

 

Revenues were $89.5 million for the quarter ended June 30, 2026 ($70.2 million for the same period in 2025). The increase of $19.3 million is mainly attributable to higher average charter rates during the three months ended June 30, 2026, partially offset by a decrease mainly attributable to the Steam vessels that have exited our fleet in the third and fourth quarter of 2025 as well as in the second quarter of 2026.

 

Profit was $44.4 million for the quarter ended June 30, 2026 (loss of $17.9 million for the same period in 2025). The increase in profit of $62.3 million is mainly attributable to a) a decrease of $34.1 million non-cash impairment loss ($34.6 million non-cash impairment loss was recognized in the quarter ended June 30, 2025, of which $29.1 million resulted from the agreement to sell the Methane Alison Victoria and $5.5 million related to the non-cash impairment loss of the Methane Jane Elizabeth, as compared to $0.5 million additional non-cash impairment loss recognized in the quarter ended June 30, 2026 related to the sale of the Methane Rita Andrea, discussed above), b) an increase of $19.3 million in revenues, as discussed above, and c) a decrease of $9.1 million in depreciation as a result of the decrease in the average number of vessels in our fleet and the impairment charges recognized in the prior year.

 

 

 

 

Unaudited condensed consolidated statements of financial position

(All amounts expressed in thousands of U.S. Dollars)

 

   December 31, 2025   June 30, 2026 
Assets          
Non-current assets          
Other non-current assets   1,073    751 
Tangible fixed assets   1,116,578    1,059,183 
Right-of-use assets   54,960    37,918 
Total non-current assets   1,172,611    1,097,852 
Current assets          
Trade and other receivables   16,959    37,807 
Inventories   4,644    7,302 
Due from related parties   417    4,915 
Prepayments and other current assets   2,448    2,073 
Cash and cash equivalents   5,221    3,059 
Total current assets   29,689    55,156 
Total assets   1,202,300    1,153,008 
Partners’ equity and liabilities          
Partners’ equity          
Common unitholders and general partner   814,972    784,027 
Preference unitholders   279,859    279,801 
Total partners’ equity   1,094,831    1,063,828 
Current liabilities          
Trade accounts payable   2,815    7,712 
Other payables and accruals   39,532    36,585 
Lease liabilities—current portion   38,679    32,868 
Total current liabilities   81,026    77,165 
Non-current liabilities          
Lease liabilities—non-current portion   26,233    11,851 
Other non-current liabilities   210    164 
Total non-current liabilities   26,443    12,015 
Total partners’ equity and liabilities   1,202,300    1,153,008 

 

Unaudited condensed consolidated statements of profit or loss

(All amounts expressed in thousands of U.S. Dollars)

 

   For the three months ended   For the six months ended 
   June 30, 2025   June 30, 2026   June 30, 2025   June 30, 2026 
Revenues   70,236    89,501    150,508    158,108 
Voyage expenses and commissions   (5,105)   (5,726)   (10,251)   (8,658)
Vessel operating costs   (15,694)   (15,361)   (31,874)   (30,380)
Depreciation   (28,322)   (19,228)   (56,242)   (39,007)
General and administrative expenses   (3,079)   (3,501)   (6,880)   (6,771)
Loss on disposal of vessel       (102)       (102)
Impairment loss   (34,612)   (510)   (34,612)   (8,205)
(Loss)/profit from operations   (16,576)   45,073    10,649    64,985 
Financial costs   (1,320)   (738)   (2,773)   (1,607)
Financial income   35    28    52    36 
Total other expenses, net   (1,285)   (710)   (2,721)   (1,571)
(Loss)/profit for the period   (17,861)   44,363    7,928    63,414 

 

 

Filing Exhibits & Attachments

1 document