George Prokopiou-led Dynagas LNG Partners reported higher profitability in the last quarter as LNG export project activity accelerated, while the company also signalled interest in expanding its portfolio beyond pure-play LNG shipping
The US-listed Greek owner posted net income of around US$19M in the third quarter of 2025, up from US$15M a year earlier. Voyage revenue came in at US$39M, broadly unchanged from the same period of 2024.
For the January–September 2025 period, net income rose to US$46M from US$38M, while voyage revenue increased to US$117M compared with US$115M a year earlier.
Dynagas attributed its improved earnings to higher other income from insurance claims relating to damages incurred in prior years, lower net interest and finance costs, and reduced general and administrative expenses.
The company’s six-vessel LNG carrier fleet maintained a utilisation rate of 99% in Q3 2025. Its fleetwide time charter equivalent averaged US$67,094 per day, comfortably above the quarter’s cash breakeven level of approximately US$47,500 per day.
Bullish on LNG, evaluating diversification
Dynagas LNG Partners chief executive Tony Lauritzen reiterated the company’s strong conviction in the long-term fundamentals of LNG shipping.
“Final investment decisions for new LNG export projects have accelerated in 2025, contributing to a growing pipeline of future natural gas supply,” he said.
“Over the medium term, this wave of new liquefaction capacity – combined with global efforts to expand affordable energy access – supports a constructive outlook for LNG transport demand.”
Mr Lauritzen also reaffirmed that Dynagas may consider expanding beyond LNG shipping, even as the segment remains its core focus.
He noted that the company is exploring “accretive growth opportunities in adjacent shipping sectors with the aim of maximising unitholder returns and enhancing the overall value of the company.”
Monitoring sanctions
Dynagas also addressed recently announced sanctions measures from the US, EU and UK targeting Russia, stating that current regimes do not materially affect the company’s business, operations or financial condition.
The company added that its counterparties are performing their obligations under their time charters in full compliance with applicable US, UK, EU and other regulations.
Dynagas said it continues to closely monitor the applicability of sanctions regimes and any potential impact on its commercial arrangements, including its long-term charters with Yamal Trade Pte Ltd for two of its vessels, Yenisei River and Lena River.
