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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) has announced a cash distribution of $0.5625 per unit on its Series A Preferred Units for the period from May 12, 2021, to August 11, 2021. This payment, to be made on August 12, 2021, marks the twenty-fourth sequential distribution since the units began trading. With 3,000,000 Series A Preferred Units outstanding, the distributions will continue on a quarterly basis. The company operates six LNG carriers with a total capacity of approximately 914,000 cubic meters.
Dynagas LNG Partners LP (DLNG) reported strong results for Q1 2021, showcasing a net income of $15.9 million and earnings per common unit of $0.36, a significant increase compared to $6.9 million and $0.11 in Q1 2020. Adjusted net income rose to $10.6 million, while adjusted EBITDA increased to $23.9 million. The partnership achieved 100% fleet utilization and declared cash distributions for its Series A and B Preferred Units. Additionally, a new charter agreement with Equinor ensures ongoing revenue, with an estimated backlog of $1.12 billion.
Dynagas LNG Partners LP (DLNG) announced it will release its first quarter financial results for the period ending March 31, 2021, after market close on June 17, 2021. Following this, management will hold a conference call on June 18, 2021, at 10:00 a.m. ET to discuss the results. The call can be accessed via specified dial-in numbers, and a replay will be available on the company’s website. Dynagas owns and operates LNG carriers, with a current fleet of six vessels, totaling approximately 914,000 cubic meters in carrying capacity.
Dynagas LNG Partners LP (NYSE: DLNG) announced the filing of its Annual Report on Form 20-F for the year ended December 31, 2020, with the SEC on April 29, 2021. The report details the Partnership's operations in LNG shipping, showcasing its fleet of six LNG carriers with a total capacity of approximately 914,000 cubic meters. Unitholders can access the report online or request a hard copy at no charge. The Partnership emphasizes its commitment to transparency and regulatory compliance while navigating the complexities of the LNG market.
Dynagas LNG Partners LP has declared a cash distribution of $0.546875 per unit on its Series B Preferred Units for the period from February 22 to May 21, 2021. The distribution is payable on May 24, 2021 to preferred unit holders of record as of May 17, 2021. This marks the tenth consecutive cash distribution since these units began trading on the NYSE. The Partnership currently has 2,200,000 Series B Preferred Units outstanding, and distributions are made quarterly, contingent upon Board approval.
Dynagas LNG Partners LP (NYSE: DLNG) announced a cash distribution of $0.5625 per Series A Cumulative Redeemable Perpetual Preferred Unit for the period February 12, 2021 to May 11, 2021. This distribution, payable on May 12, 2021, marks the twenty-third consecutive payment since trading began. The Partnership currently has 3,000,000 Series A Preferred Units outstanding and continues to operate a fleet of six LNG carriers with a total carrying capacity of approximately 914,000 cubic meters.
Dynagas LNG Partners LP (NYSE: DLNG) has secured a new time charter agreement with Equinor ASA for the ice-class LNG carrier Arctic Aurora. This contract, effective September 2021, ensures a seamless transition from the current charter, maintaining continuous employment for the vessel. The charter extends for approximately two years, with anticipated annual gross revenues of around $21.5 million. This agreement highlights Dynagas's strong relationship with Equinor and showcases the operational effectiveness of both the Arctic Aurora and the company's management.
Dynagas LNG Partners LP (NYSE: DLNG) reported financial results for Q4 and the year ended December 31, 2020. The company achieved a net income of $10.6 million, or $0.22 per common unit, marking a 92.7% increase year-over-year. Adjusted EBITDA for the period was $24.4 million, with 100% fleet utilization. Notably, the partnership declared cash distributions of $0.5625 and $0.546875 per unit on its Series A and B Preferred Units, respectively. The company has a robust $1.1 billion contracted revenue backlog, ensuring stability amid challenging market conditions. A new management agreement also reduces technical management fees by 13%.
Dynagas LNG Partners LP (NYSE: DLNG) will announce its fourth quarter financial results for the period ending December 31, 2020, on March 16, 2021, after market close. A conference call is scheduled for March 17, 2021, at 10:00 a.m. ET to discuss these results. Participants can join via various dial-in numbers provided or through a live audio webcast on the company's website. Dynagas operates six LNG carriers, with a total capacity of approximately 914,000 cubic meters. The Partnership encourages interested investors to participate in the upcoming call.
Dynagas LNG Partners LP (NYSE: DLNG) has declared a cash distribution of $0.546875 per unit for its Series B Preferred Units, covering the period from November 22, 2020 to February 21, 2021. This payment will be made on February 22, 2021 to unit holders on record as of February 15, 2021. This marks the ninth consecutive distribution since the Series B units began trading on the NYSE. The Partnership currently has 2,200,000 Series B Preferred Units outstanding.
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