0001104659-18-019717.txt : 20180323 0001104659-18-019717.hdr.sgml : 20180323 20180323065050 ACCESSION NUMBER: 0001104659-18-019717 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180323 FILED AS OF DATE: 20180323 DATE AS OF CHANGE: 20180323 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GasLog Partners LP CENTRAL INDEX KEY: 0001598655 STANDARD INDUSTRIAL CLASSIFICATION: WATER TRANSPORTATION [4400] IRS NUMBER: 000000000 STATE OF INCORPORATION: 1T FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36433 FILM NUMBER: 18708330 BUSINESS ADDRESS: STREET 1: C/O GASLOG SERVICES UK LTD STREET 2: 81 KINGS ROAD CITY: LONDON STATE: X0 ZIP: SW3 4NX BUSINESS PHONE: 44 0 203 388 3109 MAIL ADDRESS: STREET 1: C/O GASLOG SERVICES UK LTD STREET 2: 81 KINGS ROAD CITY: LONDON STATE: X0 ZIP: SW3 4NX 6-K 1 a18-8543_36k.htm 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of March 2018

 

Commission File Number 001-36433

 

GasLog Partners LP

(Translation of registrant’s name into English)

 

Gildo Pastor Center

7 Rue du Gabian

MC 98000, Monaco

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F  x     Form 40-F  o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):         o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):         o

 

 

 



 

The press release issued by GasLog Partners LP on March 23, 2018 announcing that it has entered into agreements with a new customer for two new charters plus options for an additional two charters is attached hereto as Exhibit 99.1.

 

INCORPORATION BY REFERENCE

 

Exhibit 99.1 to this Report on Form 6-K shall be incorporated by reference into our registration statement on Form F-3 (File No. 333-204616), filed with the Securities and Exchange Commission (the “SEC”) on June 1, 2015, the Form F-3 (File No. 333-220736), filed with the SEC on September 29, 2017 and the registration statement on Form S-8 (File No. 333-203139), filed with the SEC on March 31, 2015, in each case to the extent not superseded by information subsequently filed or furnished (to the extent we expressly state that we incorporate such furnished information by reference) by us under the Securities Act of 1933 or the Securities Exchange Act of 1934, in each case as amended

 

EXHIBIT LIST

 

Exhibit

 

Description

 

 

 

99.1

 

Press Release Dated March 23, 2018

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: March 23, 2018

 

 

 

 

GASLOG PARTNERS LP

 

 

 

 

by

/s/ Andrew Orekar

 

 

Name:

Andrew Orekar

 

 

Title:

Chief Executive Officer

 

3


EX-99.1 2 a18-8543_3ex99d1.htm EX-99.1

Exhibit 99.1

 

GasLog Partners LP Announces Multiple New Charter Agreements

 

MONACO — March 23, 2018 — GasLog Partners LP (NYSE:GLOP) (“GasLog Partners” or the “Partnership”) announced today that it has entered into agreements with a new customer for two new charters plus options for an additional two charters. The agreements include an approximately three and a half year charter for GasLog Santiago commencing in the third quarter of 2018 and a one year charter for a GasLog Partners 145,000 cubic meter (“cbm”) steam vessel (either Methane Jane Elizabeth or Methane Alison Victoria as nominated by the Partnership) commencing in the fourth quarter of 2019. The charterer has options to extend the GasLog Santiago charter for up to an additional seven years and the steam vessel charter for up to an additional four years, both at escalating rates.

 

GasLog Santiago is a 155,000 cbm tri-fuel diesel electric liquefied natural gas (“LNG”) carrier built in 2013 and currently on a multi-year time charter with a wholly owned subsidiary of Royal Dutch Shell plc (“Shell”) through July 2018. The vessel will undergo a scheduled drydocking during the second quarter of 2018, at which time the Partnership intends to enhance the vessel’s future marketability through the installation of a reliquefaction module ahead of commencing its new charter.

 

Methane Jane Elizabeth is a 145,000 cbm modern steam propulsion LNG carrier built in 2006. The vessel is currently on a multi-year time charter with a wholly owned subsidiary of Shell, which concludes in October 2019.

 

Methane Alison Victoria is a 145,000 cbm modern steam propulsion LNG carrier built in 2007. The vessel is currently on a multi-year time charter with a wholly owned subsidiary of Shell, which concludes in December 2019.

 

Andy Orekar, Chief Executive Officer of GasLog Partners, stated, “I am very pleased to announce the signing of these charter agreements with a new, high-quality counterparty. These charters will provide continuous employment for GasLog Santiago and either Methane Jane Elizabeth or Methane Alison Victoria, increase the Partnership’s contracted revenue visibility, diversify our customer base and support our year-on-year distribution growth guidance of 5% to 7% in 2018.”

 

About GasLog Partners

 

GasLog Partners is a growth-oriented master limited partnership focused on owning, operating and acquiring LNG carriers under multi-year charters. Upon closing of the GasLog Gibraltar acquisition, GasLog Partners’ fleet will consist of 13 LNG carriers with an average carrying capacity of approximately 156,000 cbm. GasLog Partners’ principal executive office is located at Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco. Visit GasLog Partners website at http://www.gaslogmlp.com.

 



 

Forward-Looking Statements

 

All statements in this press release that are not statements of historical fact are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that address activities, events or developments that the Partnership expects, projects, believes or anticipates will or may occur in the future, particularly in relation to our operations, cash flows, financial position, liquidity and cash available for dividends or distributions, plans, strategies, business prospects and changes and trends in our business and the markets in which we operate. We caution that these forward-looking statements represent our estimates and assumptions only as of the date of this press release, about factors that are beyond our ability to control or predict, and are not intended to give any assurance as to future results. Any of these factors or a combination of these factors could materially affect future results of operations and the ultimate accuracy of the forward-looking statements. Accordingly, you should not unduly rely on any forward-looking statements.

 

Factors that might cause future results and outcomes to differ include, but are not limited to, the following:

 

·                  general LNG shipping market conditions and trends, including spot and long-term charter rates, ship values, factors affecting supply and demand of LNG and LNG shipping, technological advancements and opportunities for the profitable operations of LNG carriers;

 

·                  fluctuations in charter hire rates and vessel values;

 

·                  changes in our operating expenses, including crew wages, maintenance, dry-docking and insurance costs and bunker prices;

 

·                  number of off-hire days and dry-docking requirements including our ability to complete scheduled dry-dockings on time and within budget;

 

·                  planned capital expenditures and availability of capital resources to fund capital expenditures;

 

·                  our ability to maximize the use of our vessels, including the re-deployment or disposition of vessels no longer under long-term time charter commitments, including the risk that certain of our vessels may no longer have the latest technology at such time which may impact the rate at which we can charter such vessels;

 

·                  our ability to secure new multi-year charters, at economically attractive rates;

 

·                  fluctuations in prices for crude oil, petroleum products and natural gas;

 

·                  our ability to expand our fleet by acquiring vessels through our drop-down pipeline with GasLog;

 

·                  our ability to leverage GasLog’s relationships and reputation in the shipping industry;

 

·                  the ability of GasLog to maintain long-term relationships with major energy companies;

 

·                  changes in the ownership of our charterers;

 

·                  our customers’ performance of their obligations under our time charters and other contracts;

 

·                  our future operating performance, financial condition, liquidity and cash available for distributions;

 

·                  our ability to acquire assets in the future, including vessels from GasLog;

 

·                  our ability to obtain financing to fund capital expenditures, acquisitions and other corporate activities, funding by banks of their financial commitments, funding by GasLog of the Sponsor Credit Facility (as defined below) and our ability to meet our restrictive covenants and other obligations under our credit facilities;

 

·                  future, pending or recent acquisitions of ships or other assets, business strategy, areas of possible expansion and expected capital spending;

 



 

·                  the expected cost of and our ability to comply with environmental and regulatory conditions, including changes in laws and regulations or actions taken by regulatory authorities, governmental organizations, classification societies and standards imposed by our charterers applicable to our business;

 

·                  risks inherent in ship operation, including the discharge of pollutants;

 

·                  GasLog’s relationships with its employees and ship crews, its ability to retain key employees and provide services to us, and the availability of skilled labor, ship crews and management;

 

·                  potential disruption of shipping routes due to accidents, political events, piracy or acts by terrorists;

 

·                  potential liability from future litigation;

 

·                  our business strategy and other plans and objectives for future operations;

 

·                  any malfunction or disruption of information technology systems and networks that our operations rely on or any impact of a possible cybersecurity breach; and

 

·                  other risks and uncertainties described in the Partnership’s Annual Report on Form 20-F filed with the SEC on February 12, 2018, available at http://www.sec.gov.

 

GasLog and GasLog Partners undertake no obligation to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events, a change in our views or expectations or otherwise. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.

 

The declaration and payment of distributions are at all times subject to the discretion of our board of directors and will depend on, amongst other things, risks and uncertainties described above, restrictions in our credit facilities, the provisions of Marshall Islands law and such other factors as our board of directors may deem relevant.

 

Contacts:

Alastair Maxwell

Chief Financial Officer

Phone: +44-203-388-3105

 

Phil Corbett

Head of Investor Relations

Phone: +44-203-388-3116

 

Joseph Nelson

Deputy Head of Investor Relations

Phone: +1 212-223-0643

 

Email: ir@gaslogmlp.com