GasLog Partners LP (GasLog Partners) (NYSE: GLOP) announced Friday (Jun14) that one of its subsidiaries has entered into a three-and-a-half-year charter for the GasLog Shanghai with Clearlake Shipping Pte Ltd, a subsidiary of Gunvor Group Ltd (Gunvor). The charter, expected to commence in June 2019, will have a variable rate of hire across the charter period based upon an agreed range.
The GasLog Shanghai is a 155,000 cbm TFDE LNG carrier built in 2013 which is currently operating in the LNG carrier spot market.
Andrew Orekar, Chief Executive Officer of GasLog Partners, stated, “I am very pleased to announce this three-and-a-half-year charter agreement with Gunvor, a new and high-quality counterparty for GasLog Partners. The charter delivers on our commitment to secure term employment for the GasLog Shanghai, strengthens the cash flow visibility of the Partnership and supports our year-on-year distribution growth guidance of 2% to 4% in 2019.”