Business Context and Reporting Period
This Form 6-K filing by Dynagas LNG Partners LP (NYSE: DLNG) covers the month of November 2019. The Partnership is a growth-oriented master limited partnership formed to own and operate liquefied natural gas (LNG) carriers on multi-year charters. As of the filing date, the fleet consists of six LNG carriers with an aggregate carrying capacity of approximately 914,000 cubic meters.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics for the period. The primary financial data disclosed relates to a specific distribution event:
- Distribution Declared: $0.546875 per unit on Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units.
- Outstanding Units: 2,200,000 Series B Preferred Units.
- Payment Date: November 22, 2019.
- Record Date: November 15, 2019.
- Period Covered: August 22, 2019 to November 21, 2019.
Material Changes
This filing represents the fourth sequential cash distribution on the Series B Preferred Units since they began trading on the NYSE. No material changes to the fleet size, charter agreements, or general business operations were reported in this specific document.
Guidance, Outlook, and Risks
The filing contains no specific financial guidance or management commentary regarding future earnings or operational outlook beyond the standard distribution schedule. The document includes a standard forward-looking statements disclaimer highlighting risks that could cause actual results to differ from expectations, including:
- Fluctuations in charter rates and vessel values.
- Changes in demand for LNG shipping capacity.
- Operating expense volatility (bunker prices, drydocking, insurance).
- Availability of financing and refinancing.
- Regulatory changes and geopolitical conditions affecting shipping routes.
Investor Verification Checklist
- Verify the record date (November 15, 2019) to confirm eligibility for the declared distribution.
- Confirm the payment date of November 22, 2019, for the Series B Preferred Units.
- Review the Partnership's Form 20-F or 10-Q filings for comprehensive revenue, debt, and liquidity metrics not included in this 6-K.
- Monitor the status of the six-vessel fleet and any potential off-hires or drydocking schedules that may impact cash flow.