Dynagas LNG Partners ended 2024 with contracted revenues of over 1 billion dollars, net profits of 51.5 million and a fleet utilization of 100%.
The listed shipping company of George Prokopiou, which manages a fleet of six LNG carriers, with a total carrying capacity of approximately 914,100 cubic meters, showed revenues of 156.4 million in 2024, compared to 148.8 million a year earlier.
Commenting on the company’s performance, Dynagas CEO Tony Lauritzen expressed his satisfaction, speaking of results that reflect the shipping company’s stable operating model, which is based on long-term charters with international energy companies.
As he emphasized, “currently, all six LNG carriers in our fleet are under long-term charters with international natural gas companies with an average remaining time of 5.9 years.”
In this context, Dynagas LNG Partners expects that there will be no availability of ships in its fleet until 2028.
Regarding the company’s financial leverage, Lauritzen pointed out that after the refinancing of the outstanding debt in June 2024, it has improved significantly, with two of the ships now debt-free.
Regarding the sanctions imposed by the US and the European Union against Russia, the company pointed out that according to what is in force to date, they do not essentially affect the company’s business activity or financial situation.
