Despite recent equity market volatility in our industry, GasLog Partners
LP (NYSE:GLOP) (“GasLog Partners” or the "Partnership") announces today
that it has not experienced any material change in the Partnership’s
operations since reporting financial results for the quarter ended
September 30, 2015. GasLog Partners’ fleet of eight LNG carriers is
fully financed and each vessel is operating under a multi-year charter.
In addition, the Partnership does not currently have any future capital
commitments for vessel newbuildings or other commercial projects. Since
our initial public offering, GasLog Partners and our general partner,
GasLog Ltd. (NYSE: GLOG) ("GasLog"), have pursued a strategy whereby new
LNG carriers are ordered, financed and delivered to GasLog, and
subsequently acquired by the Partnership at fair market value only after
such vessels have begun to operate under multi-year charters with
fixed-fee contracts, which generate predictable cash flows.
While GasLog Partners does not regularly provide quarterly distribution
guidance, GasLog Partners’ management intends to recommend to the
Partnership’s board of directors (the “Board”) a cash distribution per
unit of $0.478 for the quarter ended December 31, 2015, which is
unchanged from the cash distribution per unit of $0.478 for the quarter
ended September 30, 2015. The actual distribution payable for the
quarter ended December 31, 2015 will be subject to the approval of the
Board and the absence of any material adverse developments or
potentially attractive opportunities that would make such a distribution
payable inadvisable.
About GasLog Partners
GasLog Partners is a growth-oriented master limited partnership focused
on owning, operating and acquiring LNG carriers under long-term
charters. GasLog Partners’ fleet consists of eight LNG carriers with an
average carrying capacity of 148,750 cbm, each of which has a multi-year
time charter. GasLog Partners’ executive offices are located at Gildo
Pastor Center, 7 Rue du Gabian, MC 98000, Monaco. Visit the GasLog
Partners website at http://www.gaslogmlp.com.
Forward-Looking Statements
All statements in this press release that are not statements of
historical fact are “forward-looking statements” within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements that address activities,
events or developments that the Partnership expects, projects, believes
or anticipates will or may occur in the future, particularly in relation
to the Partnership’s operations, cash flows, financial position,
liquidity and cash available for dividends or distributions, plans,
strategies and business prospects and changes and trends in the
Partnership’s business and the markets in which it operates. These
statements are based on current expectations of future events. If
underlying assumptions prove inaccurate or unknown risks or
uncertainties materialize, actual results could vary materially from the
Partnership’s expectations and projections. Accordingly, you should not
unduly rely on any forward-looking statements. Factors that might cause
future results and outcomes to differ include:
-
LNG shipping market conditions and trends, including spot and
long-term charter rates, ship values, factors affecting supply and
demand of LNG and LNG shipping and technological advancements;
-
our ability to enter into time charters with new and existing
customers;
-
changes in the ownership of our charterers;
-
our customers’ performance of their obligations under our time
charters;
-
changing economic conditions and the differing pace of economic
recovery in different regions of the world;
-
our future financial condition, liquidity and cash available for
dividends and distributions;
-
our ability to obtain financing to fund capital expenditures,
acquisitions and other corporate activities, the ability of our
lenders to meet their funding obligations, and our ability to meet the
restrictive covenants and other obligations under our credit
facilities;
-
our ability to enter into shipbuilding contracts for newbuildings and
our expectations about the availability of existing LNG carriers to
purchase, as well as our ability to consummate any such acquisitions;
-
our expectations about the time that it may take to construct and
deliver newbuildings and the useful lives of our ships;
-
number of off-hire days, drydocking requirements and insurance costs;
-
our anticipated general and administrative expenses;
-
fluctuations in currencies and interest rates;
-
our ability to maximize the use of our ships, including the
re-employment or disposal of ships not under time charter commitments;
-
environmental and regulatory conditions, including changes in laws and
regulations or actions taken by regulatory authorities;
-
requirements imposed by classification societies;
-
risks inherent in ship operation, including the discharge of
pollutants;
-
availability of skilled labor, ship crews and management;
-
potential disruption of shipping routes due to accidents, political
events, piracy or acts by terrorists;
-
potential liability from future litigation; and
-
other risks and uncertainties described in the Partnership’s Annual
Report on Form 20-F filed with the SEC on February 17, 2015 and in the
Prospectus Supplement filed with the SEC on June 22, 2015. Copies of
the Annual Report, as well as subsequent filings, are available online
at http://www.sec.gov.
The Partnership does not undertake to update any forward-looking
statements as a result of new information or future events or
developments except as may be required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151221005251/en/
Copyright Business Wire 2015
Source: Business Wire
(December 21, 2015 - 6:59 AM EST)
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