Dynagas LNG Partners LP has released its financial results for the first quarter of 2025. The company reported voyage revenues for Q1 2025, with operating expenses amounting to $16.169 million compared to $14.732 million in Q4 2024 and $14.103 million in Q1 2024. Management fees in Q1 2025 were $3.094 million, slightly up from $3.005 million in both Q4 2024 and Q1 2024. General and administrative expenses stood at $952,000 in Q1 2025, compared to $841,000 in Q4 2024 and $963,000 in Q1 2024. Net income for the first quarter of 2025 was reported, with adjusted net income reaching $14.3 million, up from a net income of $13.6 million in the previous period, supported by non-cash amortization adjustments. Adjusted EBITDA for Q1 2025 was disclosed, although specific figures were not provided in the context. The report highlighted a cash breakeven per vessel per day of $50,396 in Q1 2025, an increase from $49,165 in Q4 2024 and $45,317 in Q1 2024. Interest expenses were noted at $9.733 million for Q1 2025, showing a decrease from $10.583 million in Q4 2024 but an increase from $5.267 million in Q1 2024. The company has indicated concerns regarding potential impacts from Russian economic sanctions and the ongoing situation in Ukraine, which could affect future capital-raising abilities and operations. The outlook remains cautious, with no specific forward guidance provided in the current context.
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