LNG

Oct 27 (LNGJ) - GasLog Partners and affiliate GasLog Ltd have entered into an agreement for the partnership to purchase the “GasLog Seattle” carrier for $189 million, which includes “$1M for positive net working capital balances” to be transferred with the vessel. This is the third such vessel transfer between the companies. GasLog Partners expects to finance the acquisition with cash on hand, including proceeds from its recent equity offering and the assumption of the existing debt of “GasLog Seattle”. The ship has tri-fuel diesel-electric vessel has 155,000 cubic metres of capacity and was built in 2013. It is currently on a multi-year time charter with a subsidiary of Royal Dutch Shell through December 2020 with two consecutive five-year extension options.