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Prokopiou’s Dynagas LNG Partners eyes ‘other sectors’ besides LNG carriers

Hellenic Shipping News

Dynagas LNG Partners LP led-by George Prokopiou announced its results for the three and nine months of the current year, mentioning that it

The post Prokopiou’s Dynagas LNG Partners eyes ‘other sectors’

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Dynagas LNG Partners LP led-by George Prokopiou announced its results for the three and nine months of the current year, mentioning that it is set to capitalize on future market opportunities across not only its core business of LNG carriers but also in other shipping sectors.

“Our capital allocation strategy aims not only to return capital to our unitholders but also to strategically position the Partnership for growth, with the flexibility to efficiently allocate capital depending on the circumstances,” the statement reads.

The third quarter net income stood at $15.1m, with earnings per common unit of $0.32. Adjusted Ebitda and adjusted net income reached $28.9m and $14.5m respectively.

Net income and earnings per common unit (basic and diluted) for the nine months of 2024 reached $37.5m and $0.75, respectively.

All six LNG carriers in the company’s fleet are currently operating under long-term charters with international gas companies. These contracts have an average remaining term of 6.2 years.

Assuming no unforeseen events, Dynagas LNG Partners LP expects no vessel availability until 2028.

As of November 22, 2024, the company’s estimated contract backlog stands

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