GLOP - GasLog Partners: Deleveraging Running Ahead Of Plan Container Ship Shortage May Help

• Thankfully GasLog Partners did not see their unit price plunge upon releasing their third quarter of 2021 results, unlike their second-quarter results.
• They saw their cash flow performance bounce back during the third quarter of 2021 and thus prove that the second quarter was merely a bump in the road.
• Interestingly, the container ship shortage is spilling over to their industry by limiting the construction of new LNG vessels and thus supporting future demand for their existing vessels.
• Even more importantly, they continue deleveraging faster than expected and thus if continued, they should restore health to their financial position within only two years, not three.
• Given this situation, it should be no surprise that I am maintaining my bullish rating.

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