GasLog Partners’ last year’s results were hit by an $93.4 mill non-cash impairment charge.
As a result, the LNGC owner moved from a profit of $150.9 mill in 2024 to a loss of $20.2 mill last year.
This reflected lower market rates and reduced vessel values for the year.
Revenue fell to $278.2 mill from $356.3 mill, as vessels were sold or redelivered, more idle days were recorded and vessels fixed at lower charter rates.
Cash and cash equivalents were $5.2 mill at year-end, with a negative working capital position of $51.3 mill.
GasLog’s management said that contracted revenues were $164.5 mill for 2026 and $278.5 mill thereafter, plus there are 1,619 open days this year.
The Partnership expected available cash, operations, support from GasLog and asset sales to cover liquidity needs for at least 12 months.
The board also declared cash distributions on the Series A, B and C preference units.
