Company: DLNG
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001104659-25-033744
Chunk: 105

Company: Dynagas LNG Partners LP
Filing Date: 2025-04-10
Form: 20-F
Item: Item 3
Chunk 105
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 carrier is measured in cbm. As of February 28, 2025, the worldwide fleet totaled 774 ships with a combined capacity of 116.7 million cbm. The breakdown of the fleet by vessel size is shown below.

The LNG Fleet by Vessel Size: February 28, 2025

  Size                 No.      000 Cbm  
 ─────────────────────────────────────────
  0-17,999 cbm          50          339  
  18-49,999 cbm         28          694  
  50-74,999 cbm          4          278  
  75-124,999 cbm         6          475  
  125-149,999 cbm      166       23,523  
  150-199,999 cbm      469       79,869  
  200-219,999 cbm       37        7,809  
  220,000+ cbm          14        3,727  
  Total                774      116,714  

Source: Drewry

The changes in LNG fleet supply are a function of deliveries of new ships from the orderbook and the removal of existing vessels through scrapping. The increases in seaborne LNG trade and ship demand over the last three years have resulted in rapid growth in the overall fleet size. LNG fleet capacity has expanded at a CAGR of 7.2% per annum between 2014 and 2024. High deliveries in the last four years have led to a sharp increase in LNG fleet in these years.

Table of Contents

LNG Fleet: 2015- February 2025

Source: Drewry

Within the current worldwide fleet, there are only 76 vessels with ice class certification and these vessels account for close to 9.6% of the global LNG fleet. These ships are a niche part of the market and command a premium over the freight rates of non-ice class vessels.

The age profile of the existing fleet as of February 28, 2025, is shown below. The average age of all LNG carriers in service is 10.5 years, with lower fleet ages for comparatively bigger vessels and smaller vessels. Whereas, mid-sized vessels are relatively older.

LNG Fleet Age Profile: February 28, 2025

  Size Range in CBM             Average Age (Years)  
  0-18,000                                      8.