Company: DLNG
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001104659-25-033744
Chunk: 141

Company: Dynagas LNG Partners LP
Filing Date: 2025-04-10
Form: 20-F
Item: Item 3
Chunk 141
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 to successfully employ our vessels at economically attractive rates, as our charters expire or are otherwise terminated;  

  Our access to capital required to acquire additional ships and/or implement our business strategy;  

  Our level of debt, the related interest expense, our debt amortization levels, and the timing of required principal installments;  

  The level of our general and administrative expenses, including salaries and costs of consultants;  

  Our charterers’ right for early termination of the charters under certain circumstances;  

  Performance of our counterparties, which are limited in number, including our charterers’ ability to make charter payments to us; and  

  The level of any distribution on all classes of our units.  

Important Financial and Operational Terms and Concepts

We use a variety of financial and operational terms and concepts when analyzing our performance. These include the following:

Voyage Revenues. Our time charter revenues are driven primarily by the number of vessels in our Fleet, the amount of daily charter hire that our LNG carriers earn under time charters and the number of Revenue Earning Days during which our vessels generate revenues. These factors are, in turn, affected by our decisions relating to vessel acquisitions, the amount of time that our LNG carriers spend dry-docked undergoing repairs, maintenance and upgrade work, the age, condition and specifications of our vessels and the levels of supply and demand in the LNG carrier charter market. Our revenues may also be affected if any of our charterers cancel a time charter or if we agree to renegotiate charter terms during the term of a charter resulting in aggregate revenue reduction. Our time charter arrangements have been contracted in varying rate environments and expire at different times. We recognize revenues from time charters over the term of the charter as the applicable vessel operates under the charter. Under time charters, revenue is not recognized during days a vessel is off-hire. Revenue is recognized from delivery of the vessel to the charterer, until the end of the time charter period. Under time charters, we are responsible for providing the crewing and other services related to the vessel’s operations, the cost of which is included in the daily hire rate, except when off-hire. Additionally, under our time charter arrangements, the charterers have agreed to provide us with EU ETS emissions allowances (“ EUAs”) arising under the EU ETS, mentioned below, and the value of the EUAs is recorded within Voyage revenues in the Consolidated Statements of Income, unless the voyage is during a period of offhire.

Off-hire (