Company: DLNG
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001104659-25-033744
Chunk: 319

Company: Dynagas LNG Partners LP
Filing Date: 2025-04-10
Form: 20-F
Item: Item 11
Chunk 319
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 not have a material effect on our net income. 
We do not currently hedge fluctuations in currency exchange rates, but our management monitors exchange rate fluctuations on a continuous basis. We may seek to hedge this currency fluctuation risk in the future.

129

Concentration of Credit Risk
The market for our services is the seaborne transportation of LNG, and the charterers consist primarily of major gas companies, oil and gas traders and gas producers. For the years ended December 31, 2024, 2023 and 2022, three, three, and four charterers, respectively, individually accounted for all of our revenues:

           ​              ​    ​    ​     ​    ​     ​    ​
-----------------------------------------------------------
Charterer                    2024       2023   2022        
SEFE (formerly Gazprom)    ​   39    %    41   %     43   %
Yamal                          34    %    43   %     41   %
Equinor                        27    %    16   %     16   %
Total                         100    %   100   %    100   %
​
Ongoing credit evaluations of our charterers are performed and we generally do not require collateral in our business agreements. Typically, under our time charters, the customer pays for the month’s charter on the first day of each month, which reduces our level of credit risk. Provisions for potential credit losses are maintained as necessary.
In addition, we have bank deposits that expose us to credit risk arising from possible default by the bank counterparties. There is a concentration of credit risk with respect to cash and cash equivalents and restricted cash to the extent that substantially all of such amounts are held with three banks. However, we believe this risk is remote, they are an established and reputable financial institutions with no prior history of default. For further information on the risks associated with our business, please see “Item 3. Key Information—D. Risk Factors” for a discussion on our credit risks, among others.