GasLog Partners owns 10 LNG carriers, including the 145,000-cbm steam LNG carrier, Methane Rita Andrea, while its bareboat fleet includes three vessels.
The LNG shipping firm said in its results report on Thursday that it recognized an aggregate non cash impairment loss of $35.4 million, with respect to one owned steam turbine propulsion vessel and three bareboat tri-fuel diesel electric engine propulsion (TFDE) vessels.
GasLog Partners did not reveal the name of the TFDE vessels.
“The indications that led to the recognition of this non-cash impairment loss included the current low market rates and the differences between the ship brokers’ valuations of our owned fleet and their carrying values,” it said.
In the year ended December 31, 2025, the partnership recognized an aggregate non-cash impairment loss of $93.4 million, $58.0 million of which related to the two vessels sold in 2025 (Methane Alison Victoria and Methane Jane Elizabeth) and $35.4 million related to the December impairment assessment mentioned above, the firm said.
Results
GasLog Partners said its revenues were $66.8 million for the quarter ended December 31, 2025, compared to $85.2 million for the same period in 2024.
The decrease of $18.4 million is mainly attributable to the 263 less calendar days due to Methane Heather Sally, which was under a bareboat agreement and was redelivered to its owners in July 2025, the sale of Methane Alison Victoria in July 2025, the sale of Methane Jane Elizabeth in October 2025, and the 2025 fixtures for the company’s open days at lower rates due to the weak market.
Revenues were $278.2 million for the year ended December 31, 2025, compared to $356.3 million in 2024.
GasLog Partners said its loss was $15 million for the quarter ended December 31, 2025, compared to profit of $18 million for the same period in 2024.
The decrease in profit of $33 million is mainly attributable to an increase of $26.6 million in the non-cash impairment loss, anda decrease of $18.4 million in revenues, the firm said.
GasLog Partners said its loss was $20.2 million for the year ended December 31, 2025, compared to profit of $151 million in 2024.
