Paolo Enoizi, CEO of New York-listed GasLog Partners, has publicly stated that tensions in the LNG transportation market will continue in the future due to a combination of vessel scarcity, volatile market conditions, energy security concerns and charterers’ reluctance to release vessels. Fan Cup Paper

European gas transportation imports rose 63 percent in the first nine months of the year following the disruption of the Russian gas pipeline, Paolo Enoizi said, adding that the LNG transportation market has benefited from these increased volumes despite a nearly 6 percent drop in tonne-mile demand as charterers are seeking time charters against price volatility and market uncertainty. Paper Fan Raw

Today there are no stand-alone vessels that can meet the schedule requirements and charterers are reluctant to release vessels from established contracts. The scarcity of such vessels has driven up time charter rates, reinforcing the market’s interest in one-year or longer charters, Paolo Enoizi noted, adding that the same benefits and risk aversion have led charterers to prefer long hauls and to seize control of their vessels to ensure cargo safety and have the ability to seize market opportunities. Fan Paper Cup

GasLog Partners expects LNG demand in Europe to grow by 55% in 2022, while demand in Asia will decline by 3%. LNG supplies in the U.S. remain stable despite plant outages at Freeport LNG, with total global supply expected to grow 5.4 percent this year. Currently, floating storage in the Atlantic basin is at record levels, with some 30 ships trapped in the area.

According to Paolo Enoizi, only 14% of the 255 confirmed LNG newbuilding orders have not been completed. Of the 40 vessels expected to be delivered in 2023, only three do not have long-term charters in place. Paper Cup Fans

According to the official website, GasLog Partners, which owns and operates 15 vessels, achieved operating revenue of US$95.679 million in the third quarter of this year, up 19% year-on-year; profit of US$42.651 million, up 61% year-on-year; and adjusted profit before depreciation and amortization of US$73.289 million, up 28% year-on-year. It is reported that the company recently signed a three-year charter agreement and a sale-and-leaseback agreement for one of its steam LNG carriers. In addition, two two-year and one-year charters were signed for its two benchmark tri-fuel diesel engine (TFDE) LNG carriers, respectively. Paper Cup Roll