Peter Livanos-controlled GasLog Partners is lining up a tri-fuel diesel-electric (TFDE) LNG carrier for sale and leaseback.
In a second-quarter results statement, the company said it had been “pursuing an agreement” for the sale and leaseback of a TFDE LNG carrier, without naming the vessel.
“While no definitive agreement has yet been reached, the agreement is expected to be executed, and the sale expected to be completed, within the third quarter of 2024,” the company said.
Previously, US-listed GasLog Partners, which was merged with parent GasLog last year, stated that it operates a fleet of 15 LNG carriers.
These comprise 15 TFDE vessels and five steam turbine carriers.
Last year, the company’s 155,000-cbm LNG carrier GasLog Sydney (built 2013) was sold to China Development Bank Leasing for $140m under a sale-and-leaseback deal and leased back under a bareboat charter for five years with no repurchase option or obligation.
In the first six months of 2024 the Paolo Enoizi-led company saw its interim profit rise to $88.5m from $72.1m in the same period a year ago. But revenues slipped back to $185.4m from $196m.
Second-quarter profit was up at $38.6m compared with $35.7m a year ago.
Revenue for the three months to the end of June slipped back to $87.3m from $97.0m in the same period last year.
The company said the decrease of $9.7m is mainly due to the second half of 2023 and 2024 fixtures, partially offset by the increase in available days resulting mainly from the decrease in off-hire days due to scheduled dry-dockings and repairs.
GasLog Partners’ vessels logged five dry-docking off-hire days in the second quarter of 2024 compared with 64 days in the same period a year ago.
