Dynagas LNG Partners (DLNG) Second Quarter Results August 6, 2014
Todays Presenters Tony Lauritzen Chief Executive Officer and Director Michael Gregos Chief Financial Officer 2
Q2 and Six Months 2014 Financial Results Dynagas LNG Partners reports results for the second quarter of 2014 and six months ended June 30, 2014: For the second quarter 2014: Net income attributable to unitholders of 10.2 million…
Recent Developments Arctic Aurora Acquisition On June 23, 2014 the Partnership completed the acquisition of the Arctic Aurora with its time charter attached to Statoil until q3 2018. Follow On Equity Offering On June 18, 2014, the…
Statements of Income CONSOLIDATED STATEMENTS OF INCOME (In thousands of Dollars except units and per unit Six Months Ended June 30, Quarter Ended June 30, data) 2014 2013 2014 2013 REVENUES Voyage revenues 41,872 42,444 20,863…
Balance Sheets CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands of Dollars except units data) June 30, 2014 Decem ber 31, 2013 ASSETS CURRENT ASSETS: Cash and cash equivalents 19,623 5,677 Restricted cash Due from related…
Financial Highlights Stability of revenues underpinned by multi-year time charter contracts and 100% utilization. Operating Expenses in line with our expectations. Lower interest & finance costs due to lower weighted levels of…
Recent Acquisition of the Arctic Aurora Delivered June 23, 2014 Price 235 million. Financed By 109 million proceeds from June 2014 Equity Issue 126 million Debt Charter Employed to Statoil until q3 2018 Estimated Annual…
Partnership Profile Vessels 4 LNG carriers Total Capacity 604,100 cbm (149,700 cbm each for Initial Fleet, 155,000 for the Arctic Aurora) Weighted Average Age 5.5 years(1) Remaining Average Charter Duration 6.0 years(1)(2)…
Fixed Charters Provide Steady, Predictable Cash Flows Capacity Carrier Name Year Built (cbm) Charterer 2013 2014 2015 2016 2017 2018 2019 2020 Clean Energy 2007 149,700 Ob River 2007 149,700 Clean Force 2008 149,700 / New…
Clear Drop-Down Opportunity from Optional Vessels cbm (cubic meters) 1,562,100 DLNG has the right to purchase any of the Optional Vessels within 162,000 24 months of delivery 162,000 Contract: TBD 162,000 Contract: TBD…
Industry Overview 12
LNG Shipping Balance Outlook Through 2020 Anticipated 120 million tons of new LNG by 2020, a New LNG Export Production (cumulative) 50% increase from 2013. The shipping market is expected to remain tight over the long run. High…
Appendix 14
Distributable Cash Flow Six Months Quarter Ended Ended June 30, June 30, 2014 Net Income 21,247 10,218 Depreciation 6,852 3,504 Amortization of deferred finance fees 236 118 Interest and finance costs 3,763 1,937 Non cash…
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