Dynagas LNG Partners, the owner and operator of LNG carriers, posted a net income for 2014 of $50.6 million, an increase of 10.8% over 2013.
Distributable cash flow during the year ended December 31, 2014 was at $59.8 million, an increase of 27.6% from the same periods in 2013.
Tony Lauritzen, Chief Executive Officer of the Partnership said, “We are pleased to report our earnings for the three months and year ended December 31, 2014 that were positively driven by our acquisition of the Yenisei River. During this past year, we had 100% fleet utilization, which supported our financial results.”
During 2014, the company increased the size of its fleet by approximately 69% on a cubic meter capacity basis.
“With our fleet fully contracted through 2016, we intend to continue to focus our attention on further fleet growth,” said Lauritzen.
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LNG World News Staff; Image: Dynagas LNG Partners