DynaGas LNG Partners in the Red in Q3
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.
Yamal LNG Exports Accelerate in Time for Winter
Liquefied natural gas exports from Novatek's Yamal terminal in the Arctic have come on stream faster than expected over the summer and exceeded volumes from Russia's only other LNG facility, Sakhalin, for the first time in August.The pace of commissioning the multi-billion dollar project has surprised a market used to chronic delays. Additional volumes from the start of another facility should now come in time for the northern hemisphere winter, a time of price spikes.Novatek said earlier this week it had begun commissioning the third train…
Dynagas LNG Partners Gets Extension of Yamal LNG TC
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…
Dynagas LNG Posts Q2 Loss
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.
Dynagas, Gazprom in New Long-term Time Charter Contract
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.
Dynagas Bags Charter Deals with Gazprom
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.
Dynagas LNG Partners Acquires LNG Carrier
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.
ABB, Dynagas Sign Turbocharger operating Deal
ABB Turbocharging, the leading provider for the manufacture and maintenance of turbochargers for 500 kW to 80+ MW diesel and gas engines, has signed a long-term Maintenance Management Agreement (MMA) with Dynagas Ltd. The service contract covers all Dynagas TFDE (tri-fuel diesel electric) vessels: Arctic Aurora, Yenisei River, Lena River, Clean Planet, Clean Ocean, Clean Horizon and Clean Vision. In order to ensure the reliability of operation of all the 42 turbochargers operating on Dynagas Ltd vessels…
Dynagas Contracts ABB for Turbocharger Maintenance
ABB Turbocharging, a provider for the manufacture and maintenance of turbochargers for 500 kW to 80+ MW diesel and gas engines, has signed a long-term Maintenance Management Agreement (MMA) with Dynagas Ltd. The service contract covers all Dynagas TFDE (tri-fuel diesel electric) vessels: Arctic Aurora, Yenisei River, Lena River, Clean Planet, Clean Ocean, Clean Horizon and Clean Vision. In order to ensure the reliability of operation of all the 42 turbochargers operating on Dynagas Ltd vessels…
Yenisei River Helps Saves 4 Sailors
Dynagas infomred that their 155,000-cbm newbuilding Yenisei River, which was delivered in July, braved moderate to rough seas to go to the aid of the yacht Caprea which was taking in water. They picked up the four sailors after their yacht began flooding off western France. The ice-class ship, which had just left the Fos Cavaou LNG terminal with a re-export cargo, received distress calls from both the Caprea and the local coast guard at 1640 local time on Wednesday. GM&T and Dynagas…
Taimyr Disapprove Oil Terminal "Tanalau"
"As a result of re-hearing Association based on its own observations and conclusions Greenpeace concluded that inappropriate construction of the oil terminal" Tanalau "on the Yenisei River. The main comments from the public have become concerns for environmental safety of construction and further operation of the terminal in the Far North, "- said in a statement the association. The organization offers to build a deep-water terminal in Port Dickson, as there has all the necessary infrastructure, he told RIA Novosti chairman of the Association of Sidor Chuprin.
Dynagas Partners Announces LNG Carrier Acquisition
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 $257.5 million. The Yenisei River acquisition is subject to the satisfaction of certain customary closing conditions. Closing of the acquisition of the Yenisei River is expected to take place on or before September 30, 2014. The partnership expects…
GE to Power Dynagas LNG Carriers
Two new dual-fuel-powered LNG carriers just handed over to Greek shipping company Dynagas by Hyundai Heavy Industries (HHI)—the Arctic Aurora and the Yenisei River—are the first part of the latest and possibly clearest demonstration of the company’s intent to reach a cleaner environment through safe and efficient transportation of clean-burning liquid natural gas (LNG). Dynagas also will take delivery of five other LNG carriers over the next two years, all equipped with innovative…
Two New Ice-class LNG Carriers for Dynagas
Dynagas, the liquefied natural gas (LNG) shipping arm of the George Prokopiou shipping enterprises, has taken delivery of Arctic Aurora, the second of two ice-class membrane LNG tankers, during a ceremony at Hyundai Heavy Industry (HHI) Ulsan shipyard, Korea. The first, Yenisei River, was delivered yesterday. The 155,000 cbm (cubic meters) ships are fitted with GTT Mk III containment systems. Propulsion for the ships is provided by a duel fuel diesel generator engine system. Four Wartsila-Hyundai diesel engines in each ship…
Russian Icebreaker Order for Baltic Shipyard
Atomflot awards a US$ 1.15-billion contract for a nuclear-powered icebreaker to Russia's Baltic Shipyard. The ship is designed for operations in the western Arctic and shallow water areas of the Yenisei River and the Gulf of Ob. The icebreaker is to be ready for operation by Atomflot by late 2017 and to be delivered to Atomflot’s Murmansk base. The new-building is expected to be floated out in November 2015, with sea trials due to start in August 2017 and ice trials in November 2017. Meanwhile, Atomflot announced an open tender in late June for a 60 MW icebreaker, for which construction Baltic Shipyard was the only bidder.