Dynagas LNG Partners LP(DLNG)

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Dynagas LNG Partners LP(DLNG) - 2023 Q3 - Earnings Call Transcript
2023-12-08 20:47
Financial Data and Key Metrics Changes - Net income for Q3 2023 decreased by $6 million or 81% to $1.4 million compared to $7.4 million in Q3 2022, primarily due to a decrease in unrealized gains on interest rate swaps and an increase in loan interest [2] - Adjusted net income for Q3 2023 was $3.1 million, down from $4.5 million in the same period last year, mainly due to increased interest and finance costs [19] - Adjusted EBITDA for Q3 2023 reached $20.4 million, indicating stability compared to previous quarters [28] - Operating cash flow generated in the quarter was $21 million [12] Business Line Data and Key Metrics Changes - Voyage revenues increased by 23.7% from $29.9 million to $37 million, attributed to deferred revenue amortization from a new time charter agreement with Equinor [11] - Operating expenses (OpEx) increased by $3.6 million, with $3 million of this increase related to two LNG carriers contracted on an OpEx pass-through basis [11] Market Data and Key Metrics Changes - The fleet consists of six LNG carriers with an average age of approximately 13.3 years, all under long-term charters with international gas companies [6][17] - The fleet's contracted backlog amounts to approximately $1.16 billion, equating to an average backlog of about $193 million per vessel [30] Company Strategy and Development Direction - The company focuses on securing long-term charters with gas companies, with no contractual vessel availability until 2028 [21] - The current liquefaction capacity is approximately 473 million tonnes per annum, with an additional 205 million tonnes per annum under construction, representing a total increase of about 40% [21] - The company has demonstrated a commitment to debt reduction, successfully repaying $242 million in debt since December 2019, lowering net leverage from 6.6 times to 4.1 times [31] Management Comments on Operating Environment and Future Outlook - Management maintains a positive outlook on the long-term prospects of LNG shipping, emphasizing its role in reducing emissions and the demand for cleaner energy sources [14] - The company is in discussions for refinancing its current credit facility, expected to conclude in Q1 2024 [29] Other Important Information - The average remaining charter period for the fleet is approximately 7.2 years, positioning the partnership for stable income [30] - The company completed scheduled dry docks for three vessels, resulting in increased costs, but with a significant portion reimbursed under time charter contracts [18] Q&A Session Summary Question: What is the status of the debt refinancing? - Management indicated that there is demand for financing vessels and that they are working towards an optimal conclusion for refinancing [32][33] Question: Is the Yamal project a factor in the refinancing delay? - Management clarified that the Yamal project is not a problem and that they are focused on finding suitable financing options [34][38]
Dynagas LNG Partners LP(DLNG) - 2023 Q3 - Earnings Call Presentation
2023-12-08 20:46
Q3 2023 Financial Results Presentation 8 December, 2023 This presentation contains certain statements that may be deemed to be "forward-looking statements" within the meaning of applicable federal securities laws. All statements included in this presentation which are not historical or current facts (including our financial forecast and any other statements concerning plans and objectives of management for future operations, cash flows, financial position and economic performance, or assumptions related the ...
Dynagas LNG Partners LP(DLNG) - 2023 Q2 - Quarterly Report
2023-10-03 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of October 2023 Commission File Number: 001-36185 DYNAGAS LNG PARTNERS LP (Translation of registrant's name into English) 97 Poseidonos Avenue and 2 Foivis Street 166 74 Glyfada, Athens, Greece (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual repor ...
Dynagas LNG Partners LP(DLNG) - 2023 Q2 - Earnings Call Transcript
2023-09-15 16:07
Dynagas LNG Partners LP (NYSE:DLNG) Q2 2023 Earnings Conference Call September 15, 2023 10:00 AM ET Company Participants Tony Lauritzen - Chief Executive Officer Michael Gregos - Chief Financial Officer Conference Call Participants Benjamin Nolan - Stifel Operator Thank you for standing by, ladies and gentlemen, and welcome to Dynagas LNG Partners Conference Call on the Second Quarter of 2023 Financial Results. We have with us today, Mr. Tony Lauritzen, Chief Executive Officer; and Mr. Michael Gregos, Chief ...
Dynagas LNG Partners LP(DLNG) - 2023 Q1 - Earnings Call Transcript
2023-06-21 15:10
Company Participants Michael Gregos - Chief Financial Officer Operator Please be reminded that the company announced its results with a press release that has been publicly distributed. At this time, I would like to remind everyone that in today's presentation and conference call, Dynagas LNG Partners will be making forward-looking statements. These statements are within the meaning of the federal securities laws. This conference call and slide presentation of the webcast contains certain forwardlooking sta ...
Dynagas LNG Partners LP(DLNG) - 2022 Q4 - Annual Report
2023-04-20 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F [_] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 [_] SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report: For the transition period from ____ to ____ Commission file number: 001-36185 OR [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fisc ...
Dynagas LNG Partners LP(DLNG) - 2023 Q1 - Quarterly Report
2023-03-19 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D- 16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of March 2023 Commission File Number: 001-36185 Dynagas LNG Partners LP (Translation of registrant's name into English) SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly autho ...
Dynagas LNG Partners LP(DLNG) - 2022 Q4 - Earnings Call Transcript
2023-03-17 15:37
Dynagas LNG Partners LP (NYSE:DLNG) Q4 2022 Earnings Conference Call March 17, 2023 10:00 AM ET Company Participants Tony Lauritzen - Chief Executive Officer Michael Gregos - Chief Financial Officer Conference Call Participants Ben Nolan - Stifel Operator Thank you for standing by ladies and gentlemen, and welcome to the Dynagas LNG Partners Conference Call on the Fourth Quarter 2022 Financial Results. With us today we have Mr. Tony Lauritzen, Chief Executive Officer; and Mr. Michael Gregos, Chief Financial ...
Dynagas LNG Partners LP(DLNG) - 2022 Q3 - Earnings Call Transcript
2022-12-12 16:24
Dynagas LNG Partners LP (NYSE:DLNG) Q3 2022 Earnings Conference Call December 12, 2022 10:00 AM ET Company Participants Tony Lauritzen - Chief Executive Officer Michael Gregos - Chief Financial Officer Conference Call Participants Ben Nolan - Stifel Operator Thank you for standing by, ladies and gentlemen, and welcome to the Dynagas LNG Partners Conference Call on the Third Quarter 2022 Financial Results. With us we have Mr. Tony Lauritzen, Chief Executive Officer; and Mr. Michael Gregos, Chief Financial Of ...
Dynagas LNG Partners LP(DLNG) - 2022 Q2 - Quarterly Report
2022-10-30 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of October 2022 Commission File Number: 001-36185 Dynagas LNG Partners LP (Translation of registrant's name into English) Poseidonos & Foivis 2 Street 16674 Glyfada, Athens, Greece (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cove ...