Greece's Dynagas LNG Q4 voyage revenue falls on lower EU emissions allowances

Dynagas LNG Partners LP

13/03/2026 13:11

Overview

Greece-based LNG carrier owner reported Q4 voyage revenue down 4% yr/yr

Q4 adjusted net income and adjusted EBITDA both declined from prior year

Company repurchased 149,000 common units, renewed $10 mln buyback program

Outlook

Dynagas LNG has 100% fleet contract coverage for 2026 and 2027 each, 64% for 2028

Company estimates contracted revenue backlog at $0.84 bln with average contract term of 5.1 years

Dynagas LNG says new EU sanctions may restrict Russian LNG transport from Jan 2027, posing revenue risk

Result Drivers

LOWER EMISSIONS ALLOWANCES AND REPAIRS - Q4 voyage revenues declined mainly due to a decrease in the value of EU emissions allowances owed by charterers and fewer revenue earning days from unscheduled vessel repairs

HIGHER OPERATING EXPENSES - Vessel operating expenses rose due to increased scheduled engine overhauling costs

LOWER TIME CHARTER RATE - Adjusted net income declined due to a lower time charter rate for the Arctic Aurora

Company press release: ID:nGNX3NjgZZ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Voyage Revenues
$40.01 mln
Q4 Adjusted Net Income
$14.13 mln
Q4 Net Income
$15.71 mln
Q4 Adjusted EBITDA
$26.87 mln
Q4 Operating Income
$18.82 mln


Analyst Coverage

The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 3 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)