Dynagas LNG Partners LP (NYSE: “DLNG”) (“Dynagas Partners” or the
“Partnership”), an owner and operator of liquefied natural gas
(“LNG”) carriers, today announced that it has entered into a new
time charter party agreement with Equinor ASA ("Equinor") for the
employment of the 2013 built ice class LNG carrier Arctic Aurora.
Under the new time charter agreement, the Arctic
Aurora is expected to be delivered to Equinor in September 2021 in
direct continuation of the current charter party with Equinor,
meaning there will be no lapse of time between the current and the
new time charter. The term ‘in direct continuation’ does not refer
to the contracted income.
The time charter period is about 2 years and the
annual gross revenues from the time charter agreement are expected
to be about $21.5 million.
Tony Lauritzen, Chief Executive Officer of
Dynagas LNG Partners LP, commented:
“We are very pleased to enter into this new
agreement with Equinor, with whom the Arctic Aurora has been
employed since its delivery in 2013, reflecting our long-standing
relationship with Equinor and the outstanding operational
performance of the Arctic Aurora and our manager throughout the
years.”
About
Dynagas
LNG
Partners
LPDynagas LNG Partners LP. (NYSE: DLNG) is a master
limited partnership which owns and operates liquefied natural gas
(LNG) carriers employed on multi-year charters. The Partnership’s
current fleet consists of six LNG carriers, with aggregate carrying
capacity of approximately 914,000 cubic meters.
Visit the Partnership’s website at
www.dynagaspartners.com
Contact Information:Dynagas LNG
Partners LP Attention: Michael Gregos Tel. +30 210 8917960 Email:
management@dynagaspartners.com
Investor Relations / Financial Media: Nicolas
Bornozis Markella KaraCapital Link, Inc. 230 Park Avenue, Suite
1536 New York, NY 10169 Tel. (212) 661-7566 E-mail:
dynagas@capitallink.com
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Partnership desires to take advantage of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. The words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,”
“potential,” “project”, “will”, “may,” “should,” “expect,”
“expected,” “pending” and similar expressions identify
forward-looking statements. These forward-looking are not intended
to give any assurance as to future results and should not be relied
upon.
The forward-looking statements in this press
release are based upon various assumptions and estimates, many of
which are based, in turn, upon further assumptions, including
without limitation, examination by the Partnership’s management of
historical operating trends, data contained in its records and
other data available from third parties. Although the Partnership
believes that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible
to predict and are beyond the Partnership’s control, the
Partnership cannot assure you that it will achieve or accomplish
these expectations, beliefs or projections.
In addition to these important factors, other
important factors that, in the Partnership’s view, could cause
actual results to differ materially from those discussed, expressed
or implied, in the forward-looking statements include, but are not
limited to, the strength of world economies and currency
fluctuations, general market conditions, including fluctuations in
charter rates, ownership days, and vessel values, changes in supply
and demand for Liquefied Natural Gas (LNG) shipping capacity,
changes in the Partnership’s operating expenses, including bunker
prices, drydocking and insurance costs, the market for the
Partnership’s vessels, availability of financing and refinancing,
changes in governmental laws, rules and regulations or actions
taken by regulatory authorities, economic, regulatory, political
and governmental conditions that affect the shipping and the LNG
industry, potential liability from pending or future litigation and
potential costs due to environmental damage and vessel collisions,
general domestic and international political conditions, potential
disruption of shipping routes due to accidents, political events,
public health threats, pandemics, international hostilities and
instability, piracy, acts by terrorist or events, including “trade
wars”, vessel breakdowns, instances of off-hires, the length and
severity of the COVID-19 outbreak, the impact of public health
threats and outbreaks of other highly communicable diseases, the
impact of the expected discontinuance of LIBOR after 2021 on
interest rates of our debt that reference LIBOR, the amount of cash
available for distribution, and other factors. Please see the
Partnership’s filings with the Securities and Exchange Commission
for a more complete discussion of these and other risks and
uncertainties. The information set forth herein speaks only as of
the date hereof, and the Partnership disclaims any intention or
obligation to update any forward-looking statements as a result of
developments occurring after the date of this communication.
Dynagas LNG Partners (NYSE:DLNG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Dynagas LNG Partners (NYSE:DLNG)
Historical Stock Chart
From Sep 2023 to Sep 2024