• TickerGLOG
  • ISINBMG375851091
  • ExchangeNew York Stock Exchange
  • SectorIndustrial Transportation
  • CountryBermuda

Analysts

Nicolay Dyvik

2020 installations up 50%

The latest data from DNV GL indicates an interest to book scrubbers for installation also beyond 2019, as June additions added 50% to 2020 installations and brought the end-2020 total to above 3,500 units. Orders are closing in on our estimates for tankers and dry bulk, but the uptake in containers since our November forecasts has been more than twice our expectations, leading to 23% of HFO demand currently being covered after IMO 2020.

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

India/China near full regas capacity

We have cut our LNG rates as two out of the top three importers are set to reach full regas utilisation, resulting in lower tonne-mile and low gas prices. We forecast rates to double by Q4 2019, and utilisation to peak in 2020 ahead of a decline in utilisation until 2022.

Nicolay Dyvik

2020 installations up 50%

The latest data from DNV GL indicates an interest to book scrubbers for installation also beyond 2019, as June additions added 50% to 2020 installations and brought the end-2020 total to above 3,500 units. Orders are closing in on our estimates for tankers and dry bulk, but the uptake in containers since our November forecasts has been more than twice our expectations, leading to 23% of HFO demand currently being covered after IMO 2020.

India/China near full regas capacity

We have cut our LNG rates as two out of the top three importers are set to reach full regas utilisation, resulting in lower tonne-mile and low gas prices. We forecast rates to double by Q4 2019, and utilisation to peak in 2020 ahead of a decline in utilisation until 2022.

Nicolay Dyvik

No agreement in sight

After positive signals since February, last week was a big step back for those who believed US–China trade relations were improving. Tariffs remain at 25% for LPG, were lifted to 25% for LNG, and remain at zero for crude. We estimate a -1.8% tonne-mile impact for LPG and -0.4% for LNG and crude; we see limited downside, and significant upside should an agreement be reached.

Mats Bye

GasLog (Buy, TP: USD24.00) - High season on its way

We have made limited changes to our operational forecasts following the Q1 report, but have reduced net profit to owners by 44% for 2019e due to the GasLog Glasgow dropdown and a Q1 derivative loss. Q2 is also likely to be a challenging quarter, but we soon expect the onset of the high season, based on a 20% increase in spot rates since early March. We reiterate our BUY recommendation and USD24 target price.

Mats Bye

GasLog (Buy, TP: USD24.00) - Challenging Q1 for spot vessels

We are 8% below consensus EBITDA ahead of GasLog’s Q1 results, which are likely due week commencing 29 April. This is owing to our lower expectations for Q1 sailed-in spot rates. We believe the freight market has reached a trough, with prospects brightening. Q1 was an active quarter for GasLog, with the announcement of two new contracts and one dropdown. We reiterate our BUY and USD24 target price.

Frank Maaø ...
  • Håkon Astrup
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Mats Bye
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

Martin Arnell ...
  • Mats Bye
  • Ole-Andreas Krohn

Northern Lights

Joachim Gunell ...
  • Mats Bye
  • Ole-Andreas Krohn
  • Patrik Ling
  • Stefan Gauffin

Northern Lights

Alexander Aukner ...
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mats Bye
  • Nicolai Farstad Olsen
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl

Northern Lights

Jon Masdal ...
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Ole-Andreas Krohn

Northern Lights

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

ValuEngine Rating and Forecast Report for GLOG

MarketLine Department

GasLog Partners LP - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's GasLog Partners LP Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by GasLog Partners LP since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. K...

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