Mixed results for LNG bulk carriers
Dynagas LNG Partners has declared a cash distribution of approximately $0.546875 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units for the period from May 22, 2019 to August 21, 2019, the company said on August 2.
The Partnership, based in Monaco, had 2,200,000 Series B Preferred Units outstanding at the date of the press release.
Dynagas LNG Partners is a growth-oriented master limited partnership formed by Dynagas Holding Ltd., its sponsor, to own and operate liquefied natural gas (LNG) carriers employed on multi-year charters. The Partnership’s current fleet consists of six LNG carriers, with aggregate carrying capacity of approximately 914,000 cubic metres.
Meanwhile, GasLog LP reported a loss of $26 million in its second quarter. The company, which has its executive offices in Monaco, beat analysts’ forecasts, with earnings adjusted for non-recurring costs at 3 cents per share, compared with estimates of a loss of 4 cents per share. The LNG carrier operator posted revenue of $154.3 million for the second quarter. GasLog shares have fallen by 13 percent from the start of the year, and by 15 percent over the last 12 months.