DLNG - Dynagas LNG: Impressive Backlog And Attractive Yields On Preferred Units
2024-02-13 15:35:54 ET
Summary
- Dynagas LNG has three ships equipped with steam turbines, and the other three fitted with TFDE (triple fuel diesel-electric) propulsion. Five of the company’s ships are ice class.
- The company has a $1.16 billion backlog. The average time charter duration is 7.2 years.
- DLNG has significantly reduced its debts over the last five years. The total debt/equity dropped from 218% in 2018 to 97.8% in 2024.
- DLNG's preferred units offer attractive dividends with a forward yield above 8%. DLNG trades at 25 % P/NAV. For reference, FLNG trades at 106% P/NAV and CLCO at 68%.
Introduction
Dynagas LNG ( DLNG ) is an LNG carrier owner. It has a fleet of six vessels with an average age of 13.3 years. Three have 150,000 cbm capacity and are equipped with steam turbines, and the other three have 155,000 cbm capacity and are fitted with TFDE (triple fuel diesel-electric) propulsion....
Dynagas LNG: Impressive Backlog And Attractive Yields On Preferred Units