LNG

June 9 (LNGJ) - Dynagas LNG Partners, the owner and operator of a fleet of six LNG carriers, said net income fell almost 25 percent for the three months to the end of March 2017, coming in at $12.9 million compared with $17.1M in the same quarter a year ago. Dynagas also has options to buy five more carriers from its European-based affiliate Dynagas Holdings. “Part of our strategic plan has been to enter into longer-term charters for the employment of the vessels in our fleet,” said Tony Lauritzen, Chief Executive of the US-listed company. “In general, long-term charters are priced at day rates below shorter-term charters. Our average remaining contract duration is now 10.5 years and our contracted backlog estimate is $1.52 billion, thereby providing us with significant cash flow visibility,” stated Lauritzen.