Company: DLNG
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001104659-25-033744
Chunk: 80

Company: Dynagas LNG Partners LP
Filing Date: 2025-04-10
Form: 20-F
Item: Item 3
Chunk 80
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assification units, LNG infrastructure projects, maintaining cost-efficient operations and providing reliable seaborne transportation services to our current and prospective charterers. In addition, as opportunities arise, we may acquire additional vessels from our Sponsor and from third-parties and/or engage in investment opportunities in the general shipping industry or incidental to the LNG or energy industry. In connection with such plans for growth, we may enter into additional financing arrangements, refinance existing arrangements or arrangements that our Sponsor, its affiliates, or such third-party sellers may have in place for vessels and businesses that we may acquire, and, subject to favorable market conditions, we may raise capital in the public or private markets, including through incurring additional debt, debt or equity offerings of our securities or in other transactions. However, we cannot assure you that we will grow or maintain the size of our Fleet or that we will continue to pay the per unit distributions in the amounts that we have paid in the past or at all or that we will be able to execute our plans for growth. For further information on the risks associated with our business, please see “ Item 3. Key Information - D. Risk Factors.”

Our Fleet

As of December 31, 2024, we owned and operated a fleet of six LNG carriers, consisting of the three modern steam turbine LNG carriers, the Clean Energy, the Ob Riverand the Amur River(formerly named the Clean Force), and three modern tri-fuel diesel electric (“ TFDE”) propulsion technology Ice Class LNG carriers, the Arctic Aurora, the Yenisei River, and theLena River, which we collectively refer to as our “ Fleet.” As of December 31, 2024, the vessels in our Fleet had an average age of 14.4 years and are contracted under multi-year charters with an average remaining charter term of approximately 6.1 years. All of the vessels in our Fleet are currently employed on multi-year time charters with international energy companies such as SEFE, Equinor, Yamal, and NextDecade.

As of the date of this annual report, the estimated contracted revenue backlog of our Fleet was approximately $0.95 billion, $0.11 billion of which is a variable hire element contained in certain time charter contracts with Yamal. The variable hire rate on these time charter contracts with Yamal is calculated based on two components - a capital cost component and an operating cost component. The capital cost component is a fixed daily amount. The daily amount of the operating cost component,