GasLog Partners LP

GasLog Partners LP reported revenues of $278.2 million for FY 2025, a 21.9% decrease from $356.3 million in FY 2024, driven by 482 fewer available vessel days from sales of Methane Alison Victoria and Methane Jane Elizabeth, lower charter rates amid weak market conditions, and 610 idle days versus 42 in 2024. Profit from operations swung to a $15.2 million loss from $155.6 million profit in 2024, impacted by $93.4 million impairment loss on vessels, higher voyage expenses ($18.3 million vs. $9.1 million), partially offset by lower vessel operating costs ($62.6 million vs. $69.7 million). Net loss was $20.2 million, down from $151.0 million profit. Balance sheet showed total assets of $1.20 billion, down from $1.45 billion, with tangible fixed assets at $1.12 billion after impairments and sales. Partners' equity stood at $1.09 billion. Operating cash flow was $191.7 million, down from $269.9 million, while investing cash inflow was $35.3 million from vessel sales. Financing outflow was $229.5 million, including $130.2 million distributions and $51.5 million return of capital. Cash ended at $5.2 million. Forward-looking, 1,619 open vessel days in 2026 signal spot market exposure risks amid fleet contraction to 11 vessels.

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