Turning to slide number three of the presentation, I will review some recent highlights. The Partnership generated distributable cash flow of $56.8 million in the second quarter of 2012, up 51% from the same quarter last year when we generated $37.6 million of distributable cash flow. The year-over-year increase highlights the growth our fleet has experienced over the past year including the recent deliveries of our new building gas carriers and our accretive acquisition in February of this year of a 52% interest in the six mass LNG carriers.For the second quarter, we declared and today paid a cash distribution of $0.675 per unit which is consistent with last quarter. We entered into a new three year forward start time charter for the Magellan Spirit which will commence in September 2013 upon the expiry of the vessel’s current time charter.
Teekay LNG Partners' CEO Discusses Q2 2012 Results - Earnings Call Transcript
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