Dynagas Lng Partners News

Dynagas LNG Partners LP, an international owner and operator of liquefied natural gas (LNG) carriers, announced it has secured a $675 million syndicated loan from leading international banks.The credit facility will be secured by mortgages on the partnership’s entire fleet of six LNG carriers, the Monaco-headquartered company said.This move is expected to help the company eliminate its existing dept of totaling $720 million.Tony Lauritzen, Chief Executive Officer, Dynagas LNG Partners said: "We are pleased to enter into this transformative re-financing. The Credit Facility provides the Partnership with reduced cost of debt relative to…

The global liquefied natural gas (LNG) carrier containment market was USD 11.21 billion in 2018 and is expected to reach around USD15.56 billion by 2025, growing at a CAGR of 4.9% between 2019 and 2025.The LNG carrier containment market is majorly driven by the rising demand for natural gas from various industries and LNG’s growing number of residential and commercial applications, said a report by Zion Market Research.Furthermore, LNG has witnessed an exponential increase in its demand as an automobile fuel in recent past, which has bolstered supportive government regulations for cleaner fuel that aims to reduce dependence on petroleum…

Monaco-headquarters Dynagas LNG Partners said that it had estimated contracted time charter coverage for 98% of its fleet estimated available days for 2019, 100% of its fleet estimated Available Days for 2020 and 92% of its fleet estimated Available Days for 2021.As of March 21, 2019, the Partnership’s contracted revenue backlog estimate  was $1.38 billion, with an average remaining contract term of 9.5 years, the Liquefied Natural Gas (LNG) maritime transportation company said. Tony Lauritzen, Chief Executive Officer of Dynagas said: "All of our LNG carriers are or to be employed on long-term contracts with an average contract duration of approximately ten years…

Monaco-based owner and operator of liquefied natural gas (LNG) carriers, reported a third-quarter ended September 30, 2018 loss of $654,000, after reporting a profit in the same period a year earlier.The gas shipping company said that the Q3 results included $2.3 million of scheduled class survey and dry-docking costs related to the Yenisei River, one of the three tri-fuel diesel engine (TFDE) vessels in our fleet.The company said it had a loss of 7 cents per share. Earnings, adjusted for non-recurring costs, were 4 cents per share. It has posted revenue of $31.3 million in the period, which beat Street forecasts.Tony Lauritzen, Chief Executive Officer of the Partnership, said: “Our reported earnings for the third quarter of 2018 were in line with our expectations.

Dynagas LNG Partners has entered into an agreement with Yamal Trade for the early commencement of the long term charter contract for employment of the ice class liquefied natural gas (LNG) carrier Yenisei River in the Yamal LNG Project. The owner and operator of LNG carriers said that pursuant to this agreement, the Yenisei River will commence operating 180 days earlier and as a result, the firm charter period has been extended from 15 years to 15 years plus 180 days. The Yenisei River was delivered early to Yamal LNG on August 14, 2018, immediately upon completion of its mandatory statutory class five-year special survey and dry-docking in Singapore.Tony Lauritzen…

Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks. Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry. Hedge funds made initial forays into shipping stocks in the third quarter of 2017, but significantly stepped up their bets in the final three months of the year, U.S. Securities and Exchange Commission filings compiled by Symmetric show. "Shipping has been in a terrible trough for a number of years," Chris Walvoord, global head of hedge fund research at investment consultant Aon Hewitt, said. "Hedge funds are starting to see opportunity ...

Dynagas LNG Partners has announced that a Partnership has entered into a new three year charter agreement with Statoil ASA (Statoil) for the employment of the Arctic Aurora, its 2013-built, 155,000 cubic meter, tri-fuel diesel engine, ice class liquefied natural gas (LNG) carrier. The Arctic Aurora is currently, and has been since 2013, on charter to Statoil. The Extended Charter is expected to commence in the third quarter of 2018 in direct continuation of the Current Charter (interrupted only by the vessel’s mandatory statutory class five-year special survey and dry-docking) and will have a firm period of about 3 years +/- 30 days. Statoil will have the option to extend the Extended Charter by two consecutive 12-month periods at escalated rates.

Greece-based Dynagas LNG Partners has reported a second-quarter loss of USD 5.2 million, after reporting a profit in the same quarter a year before. "We are satisfied that the class surveys, including dry dockings, were completed in a quick and efficient manner with an average of approximately 15 days per vessel from arrival to departure at the shipyard. The vessels are on a 5-year special survey cycle, therefore we expect the next special class survey and related dry docking to occur in about 5 years," he added. "Our reported earnings for the second quarter of 2017 were, as expected, below those of the second quarter of 2016 and were impacted by the following: (i) the class surveys and related dry dockings of three of our vessels…

Dynagas LNG Partners, an international owner and operator of liquefied natural gas (LNG) carriers, announced  the closing of a USD 480 million Senior Secured Term Loan B facility (the "Term Loan B") by its wholly-owned subsidiary, Arctic LNG Carriers Ltd. The Term Loan B is secured by, among other collateral, first priority mortgages on the vessels owned by borrower subsidiary guarantors, and is guaranteed by the Partnership and certain of its subsidiaries. The Term Loan B has a six year term and was priced at LIBOR plus 450 basis points. The Partnership intends to use the net proceeds of the Term Loan B Facility to (i) repay in full its existing secured indebtedness, (ii) pay transaction fees and expenses and (iii) for general corporate purposes.

Dynagas LNG Partners LP, an owner and operator of LNG carriers, has announced that its Board of Directors has declared a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units  for the period from November 12, 2016 to February 11, 2017. The cash distribution is payable on or about February 13, 2017 to all preferred unit holders of record as of February 5, 2017. Distributions on the Series A Preferred Units will be payable quarterly in arrears on the 12th day of February, May, August and November of each year, when, as and if declared by our Board of Directors. This is the sixth cash distribution on the Series A Preferred Units since they began trading on the NYSE.

Dynagas LNG Partners signed a new long-term time charter contract for the Clean Energy. The Partnership, through one of its wholly owned subsidiaries, entered into a new long-term charter agreement with an affiliate of the Gazprom Group for the employment of its 2007 built 150,000 cbm steam turbine LNG carrier Clean Energy. The charter is expected to commence in July 2018 and will have a firm term of seven years and nine months. The Partnership expects to generate approximately $133.0 million of gross contracted revenues over the life of the contract. Charter Amendments for the Lena River and the Yenisei River: In connection with the new long-term charter contract for the employment of the Clean Energy…

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. 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.

Dynagas LNG Partners LP has entered into a new long term time charter agreement with Gazprom Marketing & Trading Singapore Pte Ltd. for the employment of the 2007 built 150,000 cubic meter steam turbine LNG carrier Clean Energy. The Clean Energy is the Partnership's only non-ice classed LNG Carrier. The charter is expected to commence in July 2018 and will have a firm duration of about 7 years and 9 months. The gross contracted revenue from this contract is expected to be approximately $133 million over this period. Following the expiration of the existing time charter to Shell in the second quarter of 2017, Clean Energy will undergo…

The financial results of Greece-based Dynagas LNG Partners LP (DLNG) for Q2 beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share. It has profit of 43 cents per share. Earnings, adjusted for amortization costs, came to 48 cents per share. Dynagas reported  for the three and six months ended June 30 earnings of $17 million. It posted revenue of $42.6 million in the period. Tony Lauritzen, Chief Executive Officer of the Partnership, commented: "We are pleased to report our earnings for the second quarter of 2016. The three month period ended June 30, 2016 has been another strong financial quarter for us.

Dynagas LNG Partners, the owner and operator of LNG carriers, has signed an extension and two new charter deals with Gazprom for the 2007-built Ob River until May 1, 2018. In addition, the Partnership has entered into a new long-term time charter agreement with Gazprom Marketing and Trading Pte. Ltd., an affiliate of Gazprom, for the Ob River, which is expected to commence immediately following the vessel's redelivery from its current charter with Gazprom, for a period of 10 years (plus or minus 15 days).

Monaco – March 31, 2016 –Dynagas LNG Partners LP. * Gazprom Global LNG Limited has extended its current charter for the 2007-built LNG carrier Ob River, on the same terms, until May 1, 2018 (plus or minus 15 days). In addition, the Partnership has entered into a new long-term time charter agreement with Gazprom Marketing and Trading Pte. Ltd., an affiliate of Gazprom, for the Ob River, which is expected to commence immediately following the vessel’s redelivery from its current charter with Gazprom, for a period of 10 years (plus or minus 15 days). *  The Partnership has entered into a new long-term time charter agreement for its 2013-built LNG carrier Lena River for the Yamal LNG Project.

Dynagas LNG Partners LP has entered into an agreement with Dynagas Holding Ltd to purchase 100% of the ownership interests in the entity that owns and operates the Lena River, a 2013 built 155,000 cubic meter ice class liquefied natural gas carrier, and the related time charter contract with Gazprom Global LNG Limited, for an aggregate purchase price of $240.0 million. The closing of the Lena River acquisition is expected to take place on or before December 31, 2015 and is subject to customary closing conditions. The Lena River is currently operating under the Gazprom Charter, which has an initial term of five years and expires in October 2018.

With earnings, adjusted for amortization costs, profits came to 43 cents per share, Greece-based Dynagas LNG Partners LP (DLNG) exceeded Wall Street expectations. The company is looking into the opportunity of acquiring five LNG carriers currently owned by the parent company Dynagas Holding Ltd. Dynagas LNG has reported first-quarter profit of $14.9 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share. The gas shipping company posted revenue of $35.6 million in the period. Adjusted EBITDA for the three months ended March 31, 2015 was USD 28.1 million, compared to USD 16.5 million in the corresponding period of 2014, which represents an increase of 70.3%.

Dynagas LNG Partners LP announced today that it has completed its previously announced acquisition of the ownership interests in the entity that owns and operates the 2013 built ice class liquefied natural gas carrier Arctic Aurora from Dynagas Holding Ltd., Dynagas Partners’ sponsor, for a purchase price of $235.0 million. On June 19, 2014 Dynagas Partners entered into a new $340 million senior secured revolving credit facility which was used to refinance $214.1 million outstanding under Dynagas Partners’ existing senior secured revolving credit facility and the remaining borrowings of $125.9 million were used to finance a portion of the purchase price of the Arctic Aurora.

Dynagas LNG Partners LP, an owner and operator of LNG carriers, has announced that it has entered into an agreement to purchase from Dynagas Holding Ltd., the partnership's sponsor, 100% of the ownership interests in the entity that owns and operates the Yenisei River, a 2013 built ice class liquefied natural gas carrier, and the related time charter contract, for an aggregate purchase price of $257.5 million. The Yenisei River acquisition is subject to the satisfaction of certain customary closing conditions. Closing of the acquisition of the Yenisei River is expected to take place on or before September 30, 2014. The partnership expects…

Dynagas LNG Partners LP announced it has entered into an agreement to purchase from Dynagas Holding Ltd., the Partnership's sponsor, 100% of the ownership interests in the entity that owns and operates the Arctic Aurora, a 2013 built ice class liquefied natural gas carrier, for an aggregate purchase price of $235 million. The Arctic Aurora acquisition is subject to the Partnership obtaining the funds necessary to pay the purchase price and the satisfaction of certain closing conditions.