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.