Dynagas LNG Q3 Results
Dynagas LNG Partners LP (DLNG) has reported third-quarter profit of $17.3 million.
On a per-share basis, the company said it had net income of 44 cents. Earnings, adjusted for non-recurring costs, came to 49 cents per share.
Dynagas said voyage revenues increased to $43.1 million for three-month period ended sept 30, from $37.0 million last year.
Tony Lauritzen, Chief Executive Officer of the Partnership, commented: "We are pleased to report our earnings for the third quarter of 2016, which has been a record financial quarter for us. Adjusted EBITDA increased by approximately 22% to $35.4 million compared to the corresponding quarter in 2015."
Tony added: "Our Adjusted Earnings per common unit this past quarter was $0.49, an increase of about 20% compared to the corresponding quarter in 2015. Our current fleet of six LNG carriers operated at 100% utilization, which also contributed to our strong quarterly results.
