Dynagas LNG Partners’ 2015 profit up

Monaco-based Dynagas LNG Partners, the owner and operator of LNG carriers on Wednesday revealed a net income of US$60.9 million for the whole 2015, 15.7 percent up on the $52.6 million in 2014.

In the fourth quarter 2015 however, Dynagas LNG Partners reported a slight drop in net income as the company posted a profit of $15 million, 4 percent down on $15.7 million from the same period in 2014.

Tony Lauritzen, Chief Executive Officer of Dynagas LNG Partners added that the fourth quarter drop in profit is mainly due to the increased operating costs.

The partnership reported a 98 percent and 99 percent fleet utilization during the fourth quarter and the year 2015, respectively in its statement on Monday.

The company that has doubled its fleet since November 2013, informed that its vessels are fully contracted through 2016 and 83 percent through 2017, with a fleet-wide average remaining contract duration of 3.8 years.

LNG World News Staff