GasLog Partners Wraps Up Solaris Purchase

Image Courtesy: GasLog

Greece-based GasLog Partners has finalized the acquisition of the entity that owns and charters the liquefied natural gas (LNG) carrier Solaris from GasLog Ltd.

The 2014-built vessel is currently on a multi-year time charter with a wholly owned subsidiary of Royal Dutch Shell plc through June 2021.

Shell has two consecutive extension options which, if exercised, would extend the charter for a period of either five or ten years.

GasLog Partners and GasLog entered into the purchase deal in mid-September. The aggregate purchase price for the 155,000 cubic meter tri-fuel diesel electric carrier was agreed at USD 185.9 million, which includes USD 1 million for positive net working capital balances to be transferred with the vessel.

At the time, GasLog Partners said that the transaction would be financed with cash on hand and the assumption of USD 117 million of Solaris’ existing debt.

“Solaris represents the ninth LNG carrier the Partnership will have acquired from GasLog since our IPO, and its multi-year charter to Shell will provide incremental visible cash flows,” Andy Orekar, Chief Executive Officer of GasLog Partners, earlier said.

With Solaris, the Partnership’s fleet now includes 12 wholly owned LNG carriers.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Maritime Information Warfare 2017

Maritime Information Warfare will focus on the growing need for navies to develop their information exploitation capabilities…

read more >

INTERNATIONAL GREEN SHIPPING AND TECHNOLOGY SUMMIT

The Summit will gather key marine experts and companies around the globe which have a big influence in the industry…

read more >

The CWC 18th Annual World LNG Summit & Awards Evening

The CWC World LNG Summit will continue to give you access to premium networking opportunities as it brings together the who’s who…

read more >

Marintec China 2017

The largest maritime event in Asia Pacific, Marintec China connects maritime professionals from the entire shipbuilding supply chain together.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. 2015 event is another record-breaking edition with the largest exhibition area and the highest number of industry professionals attending ever. The encouraging figures proven that China remains one of the major shipbuilding nations and Marintec China has been the most authoritative platform in Asia.

With the maritime industry facing great opportunities but also many challenges, it is important for the industry to connect and engage more to ultimately win new business in globally-significant markets. A visit to Marintec China is a great way to learn about the latest technology and innovation of the supply industry, a platform for industry professional to meet face to face, make connection and do business.

Marintec China is poised to be the definitive event and is undoubtedly a must-attend for all involved in the maritime industry.

Marintec China will be held from 5 to 8 December 2017 at the Shanghai New International Expo Centre in Shanghai, China and continue its dedication to serve as the “LEADING” platform “CONNECTING” the community and “STRENGTHENING” the maritime industry.

Marintec China offers the perfect opportunity for companies serving the maritime market to showcase their innovations, products and services to a wide audience. A platform for face to face meetings in business, creating new relationships and consolidating existing ones.

More info

read more >