Business Context and Reporting Period
This Form 6-K filing by Dynagas LNG Partners LP (NYSE: DLNG) covers the month of July 2021, specifically dated July 29, 2021. The Partnership is a master limited partnership that owns and operates liquefied natural gas (LNG) carriers employed 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 focuses on a capital distribution event rather than comprehensive financial performance metrics such as revenue, profit, or cash flow.
- Cash Distribution: $0.546875 per unit on Series B Preferred Units.
- Distribution Period: May 22, 2021, to August 21, 2021.
- Payment Date: August 23, 2021.
- Record Date: August 16, 2021.
- Outstanding Units: 2,200,000 Series B Preferred Units.
- Total Distribution Value: Approximately $1,203,125 (calculated as 2,200,000 units x $0.546875).
The filing text does not provide clear values for revenue, net income, operating cash flow, margins, debt levels, or liquidity ratios for the period.
Material Changes
This filing represents the eleventh sequential cash distribution on the Series B Preferred Units since they began trading on the NYSE. There are no reported material changes to the fleet size, charter agreements, or operational status within this specific document.
Guidance, Outlook, and Risks
The filing includes standard forward-looking statements cautioning that actual results may differ from expectations due to various uncertainties. Key risks identified include:
- Strength of world economies and currencies.
- Fluctuations in charter rates and vessel values.
- Changes in demand for LNG shipping capacity.
- Operating expense volatility, including bunker prices, drydocking, and insurance costs.
- Availability of financing and refinancing.
- Regulatory changes and political conditions affecting shipping routes.
- Vessel breakdowns and off-hire instances.
The Partnership disclaims any obligation to update forward-looking statements based on future developments.
Investor Verification Checklist
- Verify the record date of August 16, 2021, to confirm eligibility for the $0.546875 per unit distribution.
- Confirm the payment date of August 23, 2021, for the Series B Preferred Units.
- Review the total number of outstanding Series B Preferred Units (2,200,000) to assess total payout obligations.
- Check subsequent filings for updates on the fleet's operational status and charter rate environments, as this filing does not contain operational financial data.