6-K
GasLog Partners LP (GLOP-PA)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TORULE 13a-16 OR 15d-16 UNDER THE SECURITIES
EXCHANGE ACT OF 1934
For the month of July 2025
Commission File Number 001-36433
GasLog Partners LP
(Translation of registrant’s name into English)
c/o GasLog LNG Services Ltd.
69 Akti Miaouli, 18537
Piraeus, Greece
(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 ¨
The press release issued by GasLog Partners LP on July 25, 2025 relating to its results for the three-month period ended June 30, 2025 is attached hereto as Exhibit 99.1.
EXHIBIT LIST
| Exhibit | Description |
|---|---|
| 99.1 | Press Release of GasLog Partners LP dated July 25, 2025 |
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: July 25, 2025 | ||||
|---|---|---|---|---|
| GASLOG PARTNERS LP | ||||
| by | /s/ Paolo Enoizi | |||
| Name: | Paolo Enoizi | |||
| Title: | Chief Executive Officer |
Exhibit 99.1
GasLog PartnersLP Reports Financial Results for the Three-Month Period Ended June 30, 2025
Majuro, Marshall Islands, July 25,2025, GasLog Partners LP (“GasLog Partners” or the “Partnership”) (NYSE: GLOP-PA, GLOP-PB, GLOP-PC), an international owner, operator and acquirer of liquefied natural gas (“LNG”) carriers, today reported its financial results for the three-month period ended June 30, 2025.
Recent Developments
Sale of Vessel
In June 2025, GasLog Partners entered into an agreement to sell, subject to customary and other closing conditions, the Methane Alison Victoria, a 145,000 cubic meter steam turbine propulsion (“Steam”) LNG carrier built in 2007, to an unrelated third party for a gross sale price of approximately $27.0 million, resulting in the reclassification of the vessel as held for sale and the recognition of an impairment loss of $29.1 million as of June 30, 2025. The sale was completed on July 15, 2025.
Redeliveryof the Methane Heather Sally
On July 4, 2025, the Methane Heather Sally, a 145,000 cubic meter Steam LNG carrier built in 2007, was redelivered to its owners, an unrelated third party, pursuant to the completion of the sale and leaseback agreement entered into on October 31, 2022.
ImpairmentLoss
As of June 30, 2025, the Partnership recognized a non-cash impairment loss of $5.5 million with respect to the Methane Jane Elizabeth, a Steam vessel, in accordance with International Financial Reporting Standards. The indications that led to the recognition of a non-cash impairment loss included the sale of the MethaneAlison Victoria at a price lower than the carrying amount of the vessel together with the current low market rates and the decreased ship brokers’ valuation for the Steam vessels.
GasLog PartnersDividend Declarations
On June 23, 2025, the board of directors of GasLog Partners approved and declared a quarterly cash distribution of $0.87 per common unit to GasLog Ltd. (“GasLog”) that was settled immediately.
On July 24, 2025, the board of directors of GasLog Partners approved and declared:
| · | a<br> distribution on the 8.625% Series A Cumulative Redeemable Perpetual Fixed to Floating Rate<br> Preference Units (“Series A Preference Units”) of $0.5390625 per preference unit<br> (based on the fixed rate), |
|---|---|
| · | a<br> distribution on the 8.200% Series B Cumulative Redeemable Perpetual Fixed to Floating Rate<br> Preference Units (“Series B Preference Units”) of $0.665121 per preference unit<br> (based on a floating rate equal to the Term Secured Overnight Financing Rate (“SOFR”)<br> for a three-month tenor published by the Chicago Mercantile Exchange (“CME”)<br> of 4.30998% plus 0.26161% of Credit Adjustment Spread (“CAS”) and spread of 5.839%<br> per annum) and |
| --- | --- |
| · | a<br> distribution on the 8.500% Series C Cumulative Redeemable Perpetual Fixed to Floating Rate<br> Preference Units (“Series C Preference Units”) of $0.631771 per preference unit<br> (based on a floating rate equal to the three-month Term SOFR as published by the CME of 4.30998%<br> plus 0.26161% of CAS and spread of 5.317% per annum). |
| --- | --- |
The cash distributions are payable on September 15, 2025 to all unitholders of record as of September 8, 2025.
Quarterly Financial Results
| Amounts in thousands of U.S. dollars | For the three months ended | ||||
|---|---|---|---|---|---|
| June<br> 30, 2024 | June<br> 30, 2025 | ||||
| Revenues | $ | 87,273 | $ | 70,236 | |
| Profit/(loss) for the period | $ | 38,551 | $ | (17,861 | ) |
Revenues were $70.2 million for the quarter ended June 30, 2025 ($87.3 million for the same period in 2024). The decrease of $17.1 million is mainly attributable to the 2024 and 2025 fixtures at lower rates due to the weak market and the 232 idle days in the quarter ended June 30, 2025 (nil idle days for the quarter ended June 30, 2024).
Loss was $17.9 million for the quarter ended June 30, 2025 (profit of $38.6 million for the same period in 2024). The decrease in profit of $56.5 million is mainly attributable to a) $29.1 million non-cash impairment loss from the agreement to sale the Methane Alison Victoria and $5.5 million relating to the non-cash impairment loss of the Methane Jane Elizabeth, b) a decrease of $17.1 million in revenues, as discussed above, c) an increase of $4.0 million in voyage expenses and commissions mainly attributable to an increase in bunkers consumption as a result of the idle days mentioned above and d) an increase of $3.1 million in depreciation, mainly attributable to the increase in depreciation of the right-of-use assets as a result of the GasLog Santiago sale and leaseback completed on August 27, 2024.
Unaudited condensed consolidated statementsof financial position
(All amounts expressed in thousandsof U.S. Dollars)
| December<br> 31, 2024 | June<br> 30, 2025 | |||
|---|---|---|---|---|
| Assets | ||||
| Non-current<br> assets | ||||
| Other<br> non-current assets | 1,482 | 1,240 | ||
| Tangible fixed assets | 1,276,472 | 1,193,556 | ||
| Right-of-use<br> assets | 129,890 | 100,282 | ||
| Total<br> non-current assets | 1,407,844 | 1,295,078 | ||
| Current<br> assets | ||||
| Vessel held<br> for sale | — | 27,000 | ||
| Trade and other<br> receivables | 13,383 | 12,314 | ||
| Inventories | 2,725 | 6,833 | ||
| Due from related<br> parties | 10,408 | 11,014 | ||
| Prepayments<br> and other current assets | 3,986 | 3,344 | ||
| Cash<br> and cash equivalents | 7,771 | 2,299 | ||
| Total<br> current assets | 38,273 | 62,804 | ||
| Total<br> assets | 1,446,117 | 1,357,882 | ||
| Partners’<br> equity and liabilities | ||||
| Partners’ equity | ||||
| Common unitholders<br> and general partner | 1,016,574 | 958,345 | ||
| Preference<br> unitholders | 280,129 | 280,067 | ||
| Total<br> partners’ equity | 1,296,703 | 1,238,412 | ||
| Current<br> liabilities | ||||
| Trade accounts<br> payable | 7,733 | 4,326 | ||
| Other payables<br> and accruals | 33,784 | 29,832 | ||
| Lease<br> liabilities—current portion | 42,741 | 40,227 | ||
| Total<br> current liabilities | 84,258 | 74,385 | ||
| Non-current<br> liabilities | ||||
| Lease liabilities—non-current<br> portion | 64,852 | 44,828 | ||
| Other<br> non-current liabilities | 304 | 257 | ||
| Total<br> non-current liabilities | 65,156 | 45,085 | ||
| Total<br> partners’ equity and liabilities | 1,446,117 | 1,357,882 |
Unaudited condensed consolidated statementsof profit or loss
(All amounts expressed in thousandsof U.S. Dollars)
| For the three months ended | For the six months ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| June<br> 30, 2024 | June<br> 30, 2025 | June<br> 30, 2024 | June<br> 30, 2025 | |||||||||
| Revenues | 87,273 | 70,236 | 185,367 | 150,508 | ||||||||
| Voyage expenses<br> and commissions | (1,068 | ) | (5,105 | ) | (2,925 | ) | (10,251 | ) | ||||
| Vessel operating<br> costs | (17,506 | ) | (15,694 | ) | (33,294 | ) | (31,874 | ) | ||||
| Depreciation | (25,196 | ) | (28,322 | ) | (50,366 | ) | (56,242 | ) | ||||
| General and administrative<br> expenses | (4,051 | ) | (3,079 | ) | (8,441 | ) | (6,880 | ) | ||||
| Impairment<br> loss | — | (34,612 | ) | — | (34,612 | ) | ||||||
| Profit/(loss)<br> from operations | 39,452 | (16,576 | ) | 90,341 | 10,649 | |||||||
| Financial costs | (947 | ) | (1,320 | ) | (1,961 | ) | (2,773 | ) | ||||
| Financial<br> income | 46 | 35 | 123 | 52 | ||||||||
| Total<br> other expenses, net | (901 | ) | (1,285 | ) | (1,838 | ) | (2,721 | ) | ||||
| Profit/(loss)<br> for the period | 38,551 | (17,861 | ) | 88,503 | 7,928 |