Dynagas LNG Partners (DLNG) has released an update.
Dynagas LNG Partners LP reported robust financial results for Q1 2024, with a net income of $11.8 million and adjusted EBITDA of $29.0 million, driven by full fleet utilization and long-term charters averaging 6.6 years. The company has strengthened its financial standing by entering a new $345 million lease agreement with China Development Bank Financial Leasing and using it, alongside existing cash, to prepay a $675 million credit facility ahead of its maturity. Despite the sanctions on Russia due to the Ukraine conflict, Dynagas LNG’s operations remain largely unaffected, although the company is assessing the potential impact of the latest E.U. sanctions targeting the LNG sector.
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