Fleet and Revenue - Dynagas LNG Partners LP's fleet consists of six LNG carriers with an average age of approximately 14.1 years, all currently employed or contracted on multi-year time charters[11]. - The estimated contracted revenue backlog of the fleet is approximately $1.03 billion, with an average remaining contract duration of about 6.4 years[11]. - Estimated contracted time charter revenues for the remaining period of 2024 are projected at $43.7 million, with contracted days of 618[14]. - For the year ending December 31, 2025, estimated contracted time charter revenues are projected at $153.9 million, with contracted days of 2,190[14]. - Voyage revenues increased to $75,670 thousand for the six months ended June 30, 2024, compared to $74,916 thousand for the same period in 2023, reflecting a growth of 1.0%[65]. - Adjusted voyage revenues rose by $11.5 million, or 17%, to $79.1 million for the six months ended June 30, 2024, from $67.6 million in the same period in 2023[33]. Financial Performance - For the six-month period ended June 30, 2024, the company reported voyage revenues of $75,670,000, a slight increase from $74,916,000 in the same period of 2023, representing a growth of 1.01%[20]. - Operating income for the same period was $38,158,000, compared to $37,642,000 in 2023, indicating an increase of 1.37%[20]. - Net income decreased to $22,458,000 from $24,030,000 year-over-year, reflecting a decline of 6.55%[20]. - Adjusted EBITDA for the six months ended June 30, 2024, was $57,564,000, up from $46,579,000 in 2023, representing a significant increase of 23.5%[22]. - The partnership's net income for the six months ended June 30, 2024, was $22,458,000, compared to $24,030,000 for the same period in 2023, reflecting a decrease of approximately 6.5%[133]. - Net income attributable to common unitholders for the six months ended June 30, 2024, was $15,951,000, down from $18,230,000 in 2023, representing a decline of about 12.5%[133]. Cash Flow and Distributions - Cash distributions for Series A Preferred Units were paid at $0.5625 per unit for three consecutive periods in 2024[7][8]. - Distributions declared and paid amounted to $6.5 million, compared to $5.8 million in the same period of 2023[70]. - The partnership reported cash and cash equivalents of $35.6 million as of June 30, 2024, down from $52.9 million a year earlier[70]. - Net cash from operating activities increased by $11.7 million, or 52.2%, to $34.1 million for the six months ended June 30, 2024, compared to $22.4 million in the same period in 2023[44]. - Net cash provided by operating activities increased to $34.1 million for the six-month period ended June 30, 2024, compared to $22.4 million for the same period in 2023, reflecting positive variations in working capital[56]. Debt and Financing - The company entered into lease financing agreements for four vessels totaling $345.9 million, which were used to fully repay a $675 million credit facility[9]. - The financing's applicable interest rate is based on three-month Term SOFR plus a margin, with options to repurchase vessels after the charter periods[9]. - Total long-term debt as of June 30, 2024, was $344,975, a decrease from $420,642 as of December 31, 2023, reflecting a reduction of approximately 18%[93]. - The Partnership fully repaid its $675 million Credit Facility on June 27, 2024, utilizing proceeds from Lease Financing and $63.67 million of its own funds[101]. - Interest and finance costs decreased by $1.1 million, or 5.6%, to $18.4 million for the six months ended June 30, 2024, from $19.5 million in the same period in 2023[40]. Assets and Liabilities - The company’s total current assets as of June 30, 2024, were $50,350,000, down from $105,257,000 at the end of 2023, a decrease of 52.2%[20]. - Total assets decreased from $908,913 thousand as of December 31, 2023, to $838,428 thousand as of June 30, 2024, representing a decline of approximately 7.7%[63]. - Total current liabilities significantly decreased from $458,761 thousand as of December 31, 2023, to $71,491 thousand as of June 30, 2024, a reduction of approximately 84.4%[63]. - The working capital deficit decreased by $332.4 million, or 94%, to $21.1 million as of June 30, 2024, compared to a deficit of $353.5 million as of December 31, 2023[45]. Operational Highlights - The fleet utilization rate improved to 100% in the first half of 2024, compared to 95.8% in the same period of 2023[22]. - The average age of vessels in operation increased to 13.9 years as of June 30, 2024, compared to 12.9 years at the end of 2023[22]. - The company derived 34% of its revenues from Yamal, which is affected by ongoing geopolitical tensions and sanctions against Russia[16]. - The partnership's time charter contracts have not been affected by sanctions related to the ongoing conflict in Ukraine[72]. Management and Governance - The company is focusing on debt repayment and balance sheet strength to reposition for future growth opportunities[5]. - The company may pursue additional vessel acquisitions and investment opportunities in the energy-related projects sector[5]. - The Master Management Agreement includes a daily management fee of $2,750 per vessel, which is subject to a 3% annual increase[84].

Financial Data and Key Metrics Changes - For Q2 2024, the company reported net income of $10.7 million and earnings per common unit of $0.20, with adjusted net income at $12.4 million or $0.25 per common unit [4][7] - Adjusted EBITDA for the quarter reached $28.6 million, slightly down from $29 million in Q1 2024 [8] - Revenue was $37.6 million, compared to $38 million in the previous quarter, with an average TCE of $67,300 per day, down from $68,100 [6][8] - Operating income decreased by 2.6% to $18.8 million from $19.3 million in Q1 2024 [7] Business Line Data and Key Metrics Changes - The company maintained 100% fleet utilization during Q2 2024, with all six LNG carriers operating on long-term charters [4][6] - The average cash break-even cost per vessel per day was $44,881, resulting in a surplus of $22,450 per day after deducting from average TCE [8] Market Data and Key Metrics Changes - The fleet's contracted backlog stands at approximately $1.04 billion, averaging about $173 million per vessel, with an average remaining charter period of approximately 6.4 years [14] - The global LNG carrier fleet is expanding rapidly, with new builds scheduled for delivery between now and 2028, potentially leading to a short-term oversupply [15][16] Company Strategy and Development Direction - The company's strategy focuses on securing long-term charters with prominent gas companies to ensure stable revenue streams [14] - The partnership has successfully reduced its outstanding debt from $675 million in September 2019 to $345 million today, improving its financial leverage [17][18] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term demand for LNG, driven by low emissions compared to traditional fossil fuels and rising global demand for electrification [16] - The company anticipates that the current order book will be observed as aging vessels are replaced and global demand for LNG transport increases [15] Other Important Information - The company concluded a new lease financing agreement for $344.9 million, which was used to repay a previous credit facility of $408.6 million ahead of maturity [5][10] - The company expects an increase in interest expenses when its interest rate swap matures, projecting a pro-forma cash rate of approximately $50,000 per day for Q4 2024 [11] Q&A Session Summary - The Q&A session concluded without any specific questions being recorded, and the CEO thanked participants for their time and attention [19][20]

Q2 2024 Financial Results Presentation 10 September, 2024 Forward Looking Statements and Disclaimer 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 econ ...

Financial Data and Key Metrics Changes - For Q1 2024, the company reported a net income of $11.8 million and earnings per common unit of $0.23, with adjusted net income at $12.4 million and adjusted earnings per common unit at $0.25, reflecting an increase of 87.7% in adjusted net income compared to the previous period [13][15] - Adjusted EBITDA for the same period reached $29 million, indicating a 23% increase, primarily driven by higher voyage revenues from the Arctic Aurora following a new charter agreement [15][28] - The company’s total debt outstanding decreased to $345 million, down from $408 million, marking a reduction of $75 million compared to the prior quarter [25][28] Business Line Data and Key Metrics Changes - The fleet consists of six LNG carriers with an average age of approximately 13.9 years, and the contracted backlog stood at approximately $1.07 billion, averaging about $178.3 million per vessel [2][28] - The average remaining charter period for the fleet is approximately 6.6 years, ensuring stable revenue streams [2] Market Data and Key Metrics Changes - The global fleet of energy carriers has expanded rapidly, with the new building order book exceeding 50% of existing fleets, indicating a strong market demand for LNG transportation [16][34] - The company anticipates that the long-term demand for energy will remain strong due to various factors, including the favorable emission profile of natural gas compared to traditional fossil fuels [34] Company Strategy and Development Direction - The company’s commercial strategy focuses on securing long-term charters with prominent gas companies to ensure stable revenue streams, with no contractual vessel availability until 2028 [16][34] - The recent refinancing has provided the company with greater financial flexibility, allowing for a focus on utilizing free cash flow and exploring new opportunities [3][25] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the company’s stable phase, supported by reduced leverage and a solid foundation of contracted cash flows, positioning the partnership well for future growth [3][28] - The management highlighted the importance of evaluating cash flow utilization on a quarter-by-quarter basis, considering both growth and distributions to unitholders [36][37] Other Important Information - The company successfully closed a $345 million lease financing agreement for four LNG carriers, which has enabled the full repayment of existing debt before maturity [25][28] - The equity book value increased from $311 million in September 2019 to $457 million as of March 2024, reflecting significant growth [28] Q&A Session Summary Question: Future cash flow utilization and distribution announcements - Management indicated that cash flow utilization will be evaluated quarterly, and no specific timeline for distribution announcements can be committed to at this moment [36][37] Question: Financing of unencumbered assets - Management stated that while it is theoretically possible to finance the unencumbered assets, the current strategy is to keep them unencumbered to align with the deleveraging strategy [38]

Q1 2024 Financial Results Presentation 28 June, 2024 This presentation of the Dynagas LNG Partners LP (the "Partnership") also includes forecasts, projections and other predictive statements that represent the Partnership's assumptions and expectations in light of currently available information. Forecasts and projections are inherently subject to numerous risks, variables, uncertainties and other market influences which may be outside of the Partnership's control. Therefore, the actual results that the Par ...

Core Insights - Dynagas LNG Partners LP reported a net income of $11.8 million for the three months ended March 31, 2024, representing a 22.9% increase from $9.6 million in the same period of 2023, primarily due to increased gains from interest rate swaps and reduced interest costs [56][59] - Adjusted Net Income for the same period was $12.4 million, a significant increase of 90.8% compared to $6.5 million in 2023, driven by higher cash voyage revenues [35][31] - Adjusted EBITDA rose to $29.0 million, up 22.9% from $23.6 million in the previous year, attributed to increased revenues from the Arctic Aurora [37][31] Financial Performance - Voyage revenues increased to $38.1 million in Q1 2024 from $37.3 million in Q1 2023, marking a 2.1% rise, mainly due to a new charter agreement with Equinor ASA [57][31] - The average daily hire gross of commissions was approximately $72,770 per vessel in Q1 2024, compared to $62,130 in Q1 2023 [36][31] - Vessel operating expenses were reported at $7.7 million, with a daily rate of $14,103 per vessel, up from $7.3 million and $13,511 respectively in the prior year [58][31] Operational Highlights - The Partnership's fleet maintained 100% utilization during both Q1 2024 and Q1 2023 [36][31] - As of March 31, 2024, the Partnership had total cash of $76.2 million and outstanding indebtedness of $408.6 million under a $675 million credit facility [40][41] - The estimated contracted revenue backlog stood at approximately $1.07 billion, with an average remaining contract term of 6.6 years [31][69] Financing Developments - On June 19, 2024, the Partnership entered into a lease financing agreement with China Development Bank Financial Leasing Co. Ltd. for $345.0 million, which was used to fully prepay its existing $675 million credit facility [41][52] - The financing agreement includes a bareboat charter for four LNG carriers, with repayment scheduled in quarterly installments [41][52] Market Context - The Partnership's operations are currently not materially affected by U.S. and E.U. sanctions related to the ongoing Russian conflict with Ukraine, although it continues to monitor the situation [54][53] - The E.U. has recently enacted sanctions targeting the LNG sector of the Russian economy, which may impact future operations [54][53]

Core Insights - Dynagas LNG Partners LP will release its financial results for the first quarter ended March 31, 2024, after market closes on June 27, 2024 [5] - A conference call and webcast to discuss the earnings results will be held on June 28, 2024, at 10:00 a.m. Eastern Time [1] - The company operates a fleet of six LNG carriers with a total carrying capacity of approximately 914,000 cubic meters [3] Conference Call Details - Participants can join the conference call by dialing 877-405-1226 (US Dial-In) or +1 201-689-7823 (US International Dial-In) [1] - A PDF presentation of the financial results will be available 10 minutes prior to the conference call on the company's website [2] - There will be a live and archived webcast of the conference call available on the company's website [7]

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Financial Reporting - Dynagas LNG Partners LP filed its Annual Report on Form 20-F for the year ended December 31, 2023 with the SEC[8] - Unitholders can request a hard copy of the Annual Report, including audited financial statements, free of charge[9] Fleet Operations - The Partnership operates a fleet of six LNG carriers with an aggregate carrying capacity of approximately 914,000 cubic meters[10]

ATHENS, Greece, April 26, 2024 (GLOBE NEWSWIRE) -- Dynagas LNG Partners LP (the "Partnership") (NYSE:DLNG), an owner and operator of liquefied natural gas ("LNG") carriers, announced today that it has filed its Annual Report on Form 20-F for the year ended December 31, 2023 (the "Annual Report") with the U.S. Securities and Exchange Commission (the "SEC"). The Annual Report is available through the Partnership's website. Alternatively, unitholders may also receive a hard copy of the Annual Report, including ...