0001104659-26-047997
SEC filingGasLog Partners LP reported Q1 2026 financial results with revenues of $68.6 million and profit of $19.1 million, down from prior year due to vessel sales and impairment, alongside agreement to sell Methane Rita Andrea.
GasLog Partners LP's Q1 2026 results reflect a smaller fleet following the redelivery of Methane Heather Sally in July 2025 and sales of Methane Alison Victoria and Methane Jane Elizabeth, contributing to a $11.7 million revenue drop to $68.6 million despite higher average charter rates. Profit declined $6.7 million to $19.1 million, primarily due to a $7.7 million non-cash impairment on the Methane Rita Andrea, now classified as held for sale under an April 2026 agreement with an unrelated third party, with closing anticipated in Q2 post dry-docking. Offsetting factors included lower depreciation by $8.1 million from fewer vessels and prior impairments, reduced voyage expenses and commissions by $2.2 million, and vessel operating costs down $1.2 million despite higher daily costs. Balance sheet shows tangible fixed assets at $1,067 million and total assets at $1,189 million as of March 31, 2026, with partners' equity at $1,081 million. Preference distributions were maintained across Series A, B, and C units, paid March 16, while a $1.56 common unit distribution to GasLog Ltd. was settled immediately on March 17. The vessel sale supports fleet optimization amid market dynamics for older steam turbine LNG carriers.