RYDBF - GasLog Partners: Distribution Cut And Murky Outlook

• GasLog Partners saw every measure of financial performance decline YOY and instituted its second distribution cut in a year.
• The company had a number of vessels complete their long-term charters and it cannot secure new charters at similar dayrates.
• The long-term future for the LNG tanker industry is still decent, but we might see an oversupply of LNG in the next few years.
• GasLog Partners has a substantial amount of debt, but it seems to be proactively working on that problem.
• Cash flows are down YOY due to the weakening contract status, but it technically did not have to cut the distribution based solely on cash flows.

For further details see: