Company: DLNG
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001104659-25-033744
Chunk: 153

Company: Dynagas LNG Partners LP
Filing Date: 2025-04-10
Form: 20-F
Item: Item 3
Chunk 153
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 ended December 31, 2023. Revenues from contracts with customers include compensation from Yamal for services regarding the special surveys of the Lena River and the Yenisei River, which were completed in the year ended December 31, 2023, as per the terms of the charter party agreements.

Voyage Expenses - including related party. In the year ended December 31, 2024, voyage expenses were $6.4 million, compared to $3.3 million for the year ended December 31, 2023, representing an increase of $3.1 million or 93.9%. The increase is primarily associated with the corresponding value of the EUAs, mentioned above, which we are obliged to surrender to the EU authorities.

Vessels’ Operating Expenses. Vessel operating expenses decreased by 8.1% or $2.8 million, to $31.6 million during the year ended December 31, 2024 from $34.4 million during the year ended December 31, 2023. Our daily operating expenses decreased from $15,713 for the year ended December 31, 2023 to $14,409 for the year ended December 31, 2024. This decrease is primarily associated with lower technical maintenance on our vessels.

Dry-docking and special survey costs. In the year ended December 31, 2024, dry-docking and special survey costs were nil, compared to $17.7 million for the year ended December 31, 2023, representing a decrease of $17.7 million or 100%. The three TFDE vessels in our Fleet, the Arctic Aurora, the Yenisei River and the Lena River completed their scheduled special survey and dry-dock in the year ended December 31, 2023. No special survey or dry-docking took place on our vessels in the year ended December 31, 2024.

General and administrative expenses - including related party. General and administrative expenses increased by 5.0%, or $0.1 million, to $2.1 million during the year ended December 31, 2024, from $2.0 million during the year ended December 31, 2023. This increase of general and administrative expenses is mainly attributable to increased legal expenses and audit fees.

Management Fees. We incurred an aggregate of $6.6 million, or $3,005 per LNG carrier per day in management fees for the year ended December 31,