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Dynagas LNG Partners LP (NYSE: DLNG) is a global leader in the seaborne transportation of liquefied natural gas (LNG). Established in 2013 and headquartered in Athens, Greece, the company operates through its subsidiaries and boasts a fleet of six LNG carriers as of April 16, 2020.
Dynagas LNG Partners LP specializes in owning and managing high-specification, versatile LNG carriers that are engaged in multi-year contracts with international energy firms. These long-term charters, defined as contracts lasting two years or more, ensure stable cash flows and high utilization rates. The company's fleet is designed for flexible trading, capable of conventional trade and operations in extreme conditions due to its Ice Class 1A FS notation and winterization, which allows for navigation in subzero and ice-bound environments.
Recent Achievements:
- Successful operation of a state-of-the-art fleet optimized for various trading conditions.
- Maintaining strong relationships with prominent international energy companies through long-term contracts.
- Providing reliable and efficient LNG transportation solutions.
Current Projects:
- Continuing to enhance fleet capabilities for both conventional and extreme weather operations.
- Expanding contractual agreements with global energy firms to ensure long-term revenue stability.
Financial Condition:
The company is committed to maintaining a robust financial position, underpinned by stable cash flows from its long-term charters. The financial results for the fourth quarter ended December 31, 2023, will be released on March 28, 2024.
For more information and updates, the company's management team regularly hosts conference calls and webcasts, with the next session scheduled for September 15, 2023, at 10:00 a.m. Eastern Time.
Contact Investor Relations at Capital Link, Inc.:
Nicolas Bornozis/Markella Kara
230 Park Avenue, Suite 1540
New York, NY 10169
Tel: (212) 661-7566
Email: dynagas@capitallink.com
Dynagas LNG Partners LP (NYSE: DLNG) reported its financial results for the three months ended March 31, 2024. The company announced a net income of $11.8 million and earnings per common unit of $0.23. Adjusted net income was $12.4 million with adjusted EBITDA at $29.0 million, and the fleet utilization stood at 100%. Dividends were declared and paid on Series A and B preferred units. Dynagas has entered a $345 million lease financing agreement with China Development Bank Financial Leasing Co. , enabling it to fully prepay its $675 million credit facility. The company's LNG carriers are operating under long-term charters with an average remaining contract term of 6.6 years, contributing to an estimated contract backlog of $1.07 billion. The recent EU sanctions targeting the Russian LNG sector are being assessed for their impact on operations.
Dynagas LNG Partners LP (NYSE: DLNG) announced that it will release its financial results for the first quarter ended March 31, 2024, after the market closes in New York on Thursday, June 27, 2024.
Following the release, the company will host a conference call and webcast to discuss the earnings results on Friday, June 28, 2024, at 10:00 a.m. Eastern Time. The call-in numbers for the conference call are 877-405-1226 (US) and +1 201-689-7823 (International).
Participants may also register for the call using a 'call me' option for ease of access. The webcast will be available live and as an archived version with accompanying slides on the company's website, where participants can also download the PDF presentation of the financial results.
Dynagas LNG Partners LP announced a cash distribution of $0.69853375 per unit on its Series B Preferred Units for the Distribution Period from February 22, 2024, to May 21, 2024. The distribution rate was 11.17654%, payable on May 22, 2024, to all Series B Preferred Unitholders of record as of May 15, 2024. Distributions are quarterly on February, May, August, and November.
Dynagas LNG Partners LP announced the filing of Form 20-F with the SEC for the year ended December 31, 2023. The Annual Report is available on the Partnership's website, with the option to request a hard copy for unitholders.
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