LNG fleet owner GasLog reports 78 percent rise in annual profits amid merger plan and charter extensions
GasLog Ltd, the operator of a fleet of 27 vessels along with affiliate GasLog Partners, posted a more than 78 percent surge in annual profits as global energy shipping activities intensified and charter options were extended.
Awilco refinances LNGCs
Awilco LNG has agreed a term sheet for the refinancing of the two 2013-built 156,000 cu m TFDEs ‘WilForce’ and ‘WilPride’
It was signed with a major leasing company based in Asia.
The agreement is structured as a sale/leaseback similar to their current financing and enables a full take out of the sale/leaseback facilities maturing on 31st December this year on favourable terms.
The facility is expected to close in 4Q19, subject to final credit approval, documentation and customary closing conditions.
GasLog Partners reports spot LNG charter rates at around $69,000 per day as earnings drop
GasLog Partners, the US-listed affiliate of Monaco-based GasLog Limited, said spot charter rates were currently at around $69,000 per day for tri-fuel, diesel-electric vessels as it reported lower fourth-quarter revenue and a 37 percent drop in profits attributed to derivatives losses, the expiry of charters and higher expenses in operating the 14 LNG carriers in its fleet portfolio.
