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The LNG shipping firm revealed in its first-quarter results report that it entered into an agreement to sell the 2006-built 145,000-cbm vessel to an “unrelated third party.”
GasLog Partners said the deal remains subject to customary and other closing conditions.
This resulted in the vessel being reclassified as held for sale and the recognition of an impairment loss of $7.7 million as of March 31, 2026.
GasLog Partners added that the transaction is expected to be completed in the second quarter of 2026 upon completion of the vessel’s dry-docking.
It did not provide further details.
GasLog purchased this LNG carrier from BG, now part of Shell, in 2014 for $156 million, according to VesselsValue data.
The data suggests that the LNG carrier is currently worth approximately $26 million.
Maethane Rita Andrea was on Monday located at the Yiu Lian Shekou yard on Mazhou Island, China.
This is the only steam LNG carrier in Gaslog Partners’ fleet, which includes nine TFDE LNG carriers built between 2013 and 2016, the company’s previous quarterly results showed.
Last year, GasLog Partners sold its 2007-built steam LNG carrier, Methane Alison Victoria, to US FSRU player Excelerate Energy for $27 million.
In addition, Indonesia’s GTS Internasional (GTSI) purchased GasLog Partners’ steam LNG carrier Methane Jane Elizabeth for $24.5 million.
Results
GasLog Partners said its revenues were $68.6 million for the quarter ended March 31, 2026, compared to $80.3 million for the same period in 2025
The company attributed the decrease of $11.7 million mainly to the redelivery of the LNG carrier Methane Heather Sally to its owners in July 2025, the sale of Methane Alison Victoria in July 2025, and the sale of Methane Jane Elizabeth in October 2025, as well as 119 additional idle days for the remaining vessels in the three months ended March 31, 2026.
GasLog Partners said its profit reached $19.1 million for the quarter, compared to $25.8 million for the same period in 2025.
The decrease in profit of $6.7 million is mainly attributable to a $7.7 million non-cash impairment loss, and a decrease of $11.7 million in revenues, the company said.