Dynagas LNG Partners LP Presentation March 3-4 2015
Todays Presenters Tony Lauritzen Chief Executive Officer and Director Mr. Tony Lauritzen has served as our Chief Executive Officer since our inception. Mr. Lauritzen has served on our Board of Directors since our inception. Mr.…
MLP Structure Positioned for Growth MLP with high specification modern fleet of 5 LNG carriers. Optional Vessels DLNG has an option on all Sponsor vessels. Dynagas Holding Ltd. 100% (the Sponsor) Dynagas GP LLC Public Unitholders…
Partnership Profile Vessels 5 LNG carriers Total Capacity 759,100 cbm (149,700 cbm each for initial fleet, 155,000 for the Arctic Aurora and Yenisei River) Fleet Average Age 5.2 years(1) Remaining Average Charter Duration 5…
Why Invest in DLNG Modern (average age: 5.2 years2) and flexible fleet of 5 LNG carriers. Pure-play LNG shipping Owns 4 out of a total 7 LNG carriers in global fleet with ice class 1A FS or equivalent notations. Partnership owning…
Fixed Charters Provide Steady, Predictable Cash Flows Carrier Year Capacity Name Built (cbm) Charterer 2014 2015 2016 2017 2018 2019 2020 Clean 2007 149,700 Energy Ob River 2007 149,700 Clean New Gazprom Charter Force 2008…
Clear Drop-Down Opportunity from Optional Vessels cbm (cubic meters) 1,562,100 DLNG has the right to purchase any of the 162,000 Optional Vessels within 24 months of delivery 162,000 Contract: TBD 162,000 Contract: TBD 162,000…
Strategic growth plan Current Fleet Optional Vessels 2015-2017 Potential Growth of Sponsor Asset Base 2017-2022 20 vessels 10 vessels 5 vessels 3 vessels Clean Horizon Arctic Aurora Yenisei River Clean…
Fleet trading worldwide including ice bound areas Modern and flexible fleet with capability to trade in Ice bound areas Ice class vessels also trade as conventional LNG DLNG owns 4 out of a total 7 LNG carriers in global carriers.…
Financial 11
Growth so far (1) Contract Backlog (USD millions) Adjusted EBITDA (USD millions)(1)(1) (1) Quarterly Cash Distribution per Unit 665 (3) 110 0.4225 0.39 (2) 297 65 0.365 Backlog November Backlog March 5th, IPO Forecast…
Capital Structure Balance Sheet Capital Structure USD millions (1) Total cash of 35.9 million as of December 31, 2014. Further 30 million available credit support from our Sponsor. Total Debt as of December 31, 2014: 575 million…
Successful Capital Raising since IPO Equity Secured Bank Debt Unsecured Bond Debt USD 259m USD 340 million USD 250 million IPO November 2013 June 2014 September 2014 Transactions USD 126 million Secured by four 85% institutional…
Growth Strategy Current fleet of 5 LNG carriers expected to Estimated EBITDA of IDENTIFIED drop down assets generate 110m in EBITDA in 2015. 135m 159m 181-184m 203-209m 225-234m 2014 drop downs Increased contracted EBITDA by…
Cash Distributions Cumulative Number of Increase in Quarterly Cash Increase in operational Effective Quarter Ended Cash Distribution Payment Date Distribution Distribution per Unit Distributions vessels for a per Unit per Unit full…
Strong Free Cash Flow Generation Our fleet is estimated to have 13 million of annual free cash flow on a per vessel and 64 million on a 5- fleet basis Distributions to unitholders determined based on available free cash flow Annual3…
Cash Distribution Policy Distribution Policy Stability and predictability Distribution Amounts After second drop down in Sept. 2014 DPU increased to 1.69 per unit Target Annual Growth in DPU 10% + following acquisition of…
Industry Overview 19
DLNG in the LNG Value Chain Exploration and Transportation and Liquefaction LNG Shipping Regasification Drilling Consumption LNG shipping represents a fundamental link in the LNG value chain; DLNG offers a differentiated and…
Strong growth in Natural Gas usage and LNG trade World Energy Consumption by type 14000.0 Million Tonne Oil Equivalent 12000.0 10000.0 8000.0 6000.0 4000.0 2000.0 - Year Oil Coal Natural Gas Nuclear Energy Hydro…
Outsized Impact on Shipping Increasing number of participants in the Global LNG Trade: 2002 vs. 2013 coupled with increased shipping distance Average miles per cargo 5000 4500 4000 Miles 3500 3000 2500 2002 2003 2004…
Increase in LNG Production New LNG Export Production Anticipated 156 million tons of new LNG by 2020, an estimated 65% increase from 2014 (expected 241 MT). Includes US export production of 79 mtpa by 2020: Sabine Pass, Cameron LNG,…
Insufficient fleet to meet expected growth in LNG production Expected Worldwide Liquefaction Capacity Growth Estimated implied LNG Carrier Demand vs. Projected Fleet Million tonne of LNG per annum (mtpa) (Number of LNG carriers)…
Why Invest in DLNG Fixed rate revenues (665m backlog2) underpinned by average remaining long term contracts to diversified and credit worthy counterparties. Modern (average age: 5.2 years2) and flexible fleet operated by reputable…
Thank You 26
Appendix 27
Fleet Overview Earliest / Contract Year Built / Charter Latest Backlog(1) Carrier Yard Specs Charterer Commencement Expiration (in millions) 149,700 cbm Steam 2007 Membrane Apr-17 / Feb-12 65.5 HHI containment Aug-20 Double-hull…
Selected Financial Data Selected Corporate and Financial Data 12 Months 3 Months (USD thousands) 31-12-14 31-12-13 31-12-14 31-12-13 Average Number of vessels 5.0 3.0 3.8 3.0 Available Days 1,384 1,095 460 276 Voyage revenues…
Distributable Cash Flow Year Ended December 31, Quarter Ended December Distributable Cash Flow (USD thousands) 2014 31, 2014 Net Income 50,561 15,320 Depreciation 17,822 6,101 Amortization and write-off of deferred finance fees 785…
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