Dynagas LNG Partners LP Reports Results for the Three and Twelve Months Ended December 31, 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 06 2025
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Should l Buy DLNG?
Source: Newsfilter
Financial Performance: Dynagas LNG Partners LP reported a net income of $51.6 million for the year ending December 31, 2024, with an adjusted EBITDA of $115 million and 100% fleet utilization. The quarterly results showed a net income of $14.1 million for Q4 2024, reflecting a 34.3% increase compared to the same quarter in 2023.
Impact of Sanctions: The ongoing conflict between Russia and Ukraine has led to sanctions from Western countries; however, these have not materially affected Dynagas LNG's operations or financial condition as of now, though future developments could pose risks to the business.
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Analyst Views on DLNG
About DLNG
Dynagas LNG Partners LP is a limited partnership, which focuses on owning and operating liquid natural gas (LNG) carriers. The Company's vessels are employed on multi-year time charters with international energy companies. As of December 31, 2016, the Company owned and operated a fleet of six LNG carriers, consisting of the three LNG carriers in its Initial Fleet, the Clean Energy, the Ob River and the Amur River, and three 2013-built Ice Class LNG carriers that the Company acquired from its Sponsor the Arctic Aurora, the Yenisei River, and the Lena River (collectively referred as its Fleet). The vessels in its Fleet have an average age of 6.6 years and are contracted under multi-year charters with Shell, Gazprom, Statoil and Yamal with an average remaining charter term, as of March 17, 2017, of approximately 10.6 years, including the charter agreements relating to the Yenisei River and the Lena River with Yamal. The Company's Fleet is managed by its manager, Dynagas Ltd.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Replacement of Previous Program: This new program replaces the prior repurchase initiative that expired on November 21, 2025, demonstrating the company's adaptability to current market conditions, which may attract more investor interest.
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See More
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See More
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- Industry Leadership Participation: The forum will feature the Shipping Ministers of Greece, Cyprus, and Malta, along with the U.S. Deputy Assistant Secretary for Transportation Affairs, showcasing the regulatory dynamics affecting the global shipping sector.
- Award Ceremony: During the forum, the 2026 Capital Link Greek Shipping Leadership Award will be presented to Mr. Pantelis Eleftherios Kollakis, Chairman of Chartworld Group, recognizing his contributions to the shipping industry and Greece, thereby enhancing industry influence.
- Diverse Topic Discussions: The forum will cover various themes from energy transition to digital technology, aiming to provide forward-looking strategies that help stakeholders maintain competitiveness in a complex global environment.
See More
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- Regulatory and Decarbonization Focus: The report discusses regulatory updates and decarbonization efforts within the industry, highlighting their significant impact on shipping companies' capital allocation and shareholder value enhancement, reflecting the industry's commitment to sustainability.
- Global Trade Trends: By analyzing global trade trends, the report reveals how shipping companies are adjusting their strategies in a rapidly changing market environment to address future challenges and opportunities, thereby strengthening their competitive position.
- Executive Insights Sharing: The report features insights from executives of notable companies, including Capital Clean Energy Carriers Corp. and Dynagas LNG Partners LP, providing forward-looking perspectives on the future of the shipping market to aid investors in making informed decisions.
See More
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- Repurchase Program Initiation: Dynagas LNG Partners has announced a new repurchase program authorizing the buyback of up to $10 million of its common units, set to run until November 24, 2026, aimed at enhancing shareholder value and boosting market confidence.
- Replacement of Previous Program: This new program replaces the prior repurchase initiative that expired on November 21, 2025, demonstrating the company's adaptability to current market conditions, which may attract more investor interest.
- Flexible Repurchase Methods: The repurchases will be conducted through various means, including privately negotiated transactions and open market purchases, with management having the discretion to determine the timing based on legal requirements, market conditions, and liquidity, ensuring effective use of funds.
- Market Reaction Expectations: Although the program does not obligate the partnership to repurchase a specific number of units, its implementation could potentially elevate unit prices in the short term, reflecting the company's confidence in future market performance.
See More
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- Repurchase Program Launch: Dynagas LNG Partners has announced a new repurchase program allowing for the buyback of up to $10 million of common units by November 24, 2026, aimed at enhancing shareholder value and boosting market confidence.
- Replacement of Previous Program: This new program replaces the prior repurchase initiative that expired on November 21, 2025, demonstrating the company's adaptability to current market conditions, which may attract more investor interest.
- Flexible Repurchase Methods: Repurchases will be conducted through privately negotiated transactions, open market transactions, or other means, with management determining the amount and timing based on legal requirements, market conditions, and liquidity, ensuring flexibility and market responsiveness.
- Market Reaction Expectations: Although the program does not obligate the partnership to repurchase any specific amount or number of units, its announcement is likely to enhance investor confidence in the short term, potentially leading to a positive impact on the stock price.
See More
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- Director Re-election: During the Annual Meeting of Limited Partners on November 26, 2025, Dynagas LNG Partners re-elected Alexios Rodopoulos as a Class II Director for a three-year term until the 2028 meeting, ensuring continuity and stability in corporate governance.
- Auditor Appointment: The meeting also ratified Ernst & Young (Hellas) as the independent auditors for the fiscal year ending December 31, 2025, a decision that will enhance financial transparency and boost investor confidence.
- Fleet Capacity: Dynagas LNG Partners currently operates six LNG carriers with an aggregate carrying capacity of approximately 914,000 cubic meters, ensuring its competitiveness in the long-term charter market.
- Market Positioning: By continuously updating its board and auditor, Dynagas LNG Partners demonstrates a commitment to compliance and transparency, aiming to strengthen investor trust and support future business expansion.
See More
Dynagas LNG Partners LP Announces Financial Results for the Second Quarter and First Half of 2025
Financial Performance: Dynagas LNG Partners LP reported a net income of $27.3 million for the first half of 2025, with earnings per common unit at $0.52. The second quarter net income was $13.7 million, reflecting a 28% increase compared to the same period in 2024, driven by reduced interest costs and increased voyage revenues.
Fleet Utilization and Contracts: The partnership achieved a fleet utilization rate of 99.7% and has all six LNG carriers under long-term charters, with an average remaining contract duration of 5.4 years and an estimated contract backlog of approximately $0.9 billion.
Preferred Units Redemption: The partnership fully redeemed 2,200,000 Series B Preferred Units on July 25, 2025, for a total payment of $56 million, funded by internal cash reserves, which is expected to save approximately $5.7 million annually in cash costs.
Impact of Sanctions: Current U.S. and E.U. sanctions related to the Russian conflict with Ukraine have not materially affected the partnership's operations, but the company continues to monitor potential future impacts on its business and financial condition.
See More
