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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) announced a new time charter agreement with Equinor ASA for its LNG carrier Arctic Aurora. This contract, effective September 2023, will extend employment for approximately three years, contributing an estimated $116.5 million to the Partnership’s revenue backlog. The Arctic Aurora has been with Equinor since its delivery in 2013, highlighting a strong operational relationship. The Partnership currently operates six LNG carriers with a total capacity of about 914,000 cubic meters.
Dynagas LNG Partners LP (NYSE: DLNG) reported third-quarter results for 2022, highlighting a net income of $7.4 million and earnings per common unit of $0.12. The Partnership maintained a 100% fleet utilization rate and declared cash distributions for its preferred units. Adjusted Net Income stood at $4.5 million with an Adjusted EBITDA of $20.0 million. Despite ongoing sanctions due to the Russia-Ukraine conflict, the Partnership indicated that current sanctions do not materially affect its operations. Its backlog of contracted revenue is estimated at $0.91 billion.
Dynagas LNG Partners LP (NYSE: DLNG) announced that new U.S. Treasury Regulations effective January 1, 2023, mandate brokers to withhold on gross proceeds from non-U.S. persons selling publicly traded partnership interests taxed as partnerships. Since Dynagas is taxed as a corporation, its interests are exempt from these regulations. Consequently, certain non-U.S. brokers may restrict non-U.S. persons from holding interests in such partnerships. For more details, visit Dynagas Partners.
Dynagas LNG Partners LP (NYSE: DLNG) will announce its third-quarter financial results on December 12, 2022, before market opening in New York. A conference call will follow at 10:00 a.m. ET on the same day, where management will discuss the results. Participants can access the call by dialing in 10 minutes ahead of time. A live webcast and archived audio will also be available on the company's website. Currently, the partnership operates a fleet of six LNG carriers with a total carrying capacity of approximately 914,000 cubic meters.
The Annual General Meeting of Limited Partners for Dynagas LNG Partners LP (NYSE: DLNG) was held on November 30, 2022, in Athens, Greece. Key resolutions approved include the re-election of Alexios Rodopoulos as a Class II Director for a three-year term until 2025, and the re-appointment of Ernst & Young (Hellas) as the independent auditors for the fiscal year ending December 31, 2022.
Dynagas LNG Partners LP (NYSE: DLNG) announced a cash distribution of $0.546875 per unit on its Series B Preferred Units for the period from August 22 to November 21, 2022. This distribution, payable on November 22, will benefit all preferred unit holders recorded by November 15, 2022. It marks the 16th consecutive distribution for the Series B Preferred Units, with 2,200,000 units outstanding. Distributions will occur quarterly, pending board declaration. The Partnership operates six LNG carriers, with a carrying capacity of 914,000 cubic meters.
Dynagas LNG Partners LP (NYSE: DLNG) has scheduled its 2022 Annual General Meeting for November 30, 2022, at 4:00 p.m. local time in Glyfada, Athens. The record date for Limited Partners to vote is October 20, 2022. An official notice and proxy statement will be mailed around October 25, 2022, and will also be available on the SEC's website. The announcement includes a caution regarding forward-looking statements and risks related to the global economy, regulatory changes, and geopolitical tensions, particularly regarding the ongoing Ukraine conflict.
Dynagas LNG Partners LP (NYSE: DLNG) announced a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units for the period from August 12, 2022 to November 11, 2022. This distribution, the 29th sequential payment, will be made on November 14, 2022 to those on record as of November 7, 2022. The Partnership currently has 3,000,000 Series A Preferred Units outstanding, and distributions are payable quarterly.
Dynagas LNG Partners LP (NYSE: DLNG) reported robust results for Q2 2022, achieving a net income of $11.1 million and earnings of $0.22 per common unit. The Partnership maintained 100% fleet utilization for the ninth consecutive quarter, with an estimated revenue backlog of $0.95 billion. Cash distributions were declared for Preferred Units, amounting to $0.5625 and $0.546875 per unit for Series A and B, respectively. The ongoing geopolitical situation has not materially affected operations, and the company is focused on cash flow generation and deleveraging for future growth opportunities.
Dynagas LNG Partners LP (NYSE: DLNG) will announce its financial results for the second quarter and first six months of 2022 after market close on September 22, 2022. Following the release, management will host a conference call on September 23, 2022, at 10:00 a.m. ET to discuss the results. Participants can join the call using specified dial-in numbers and a call ID.
The earnings presentation will be available on the company’s website, and the call will be archived for later access.
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