ATHENS, Greece, April 21, 2021 (GLOBE NEWSWIRE) – Dynagas LNG Partners LP (NYSE: “DLNG”) (“Dynagas Partners” or the “Partnership”), owner and operator of liquefied natural gas (“LNG”) carriers announced today that they have signed a new contract with Equinor ASA (“Equinor”) for a time charter party for the ice class LNG carrier Arctic Aurora, built in 2013.
As part of the new time charter agreement, it is expected that the Arctic Aurora will be delivered to Equinor in September 2021 as a direct continuation of the current charter party with Equinor, which means that there will be no period of time between the current and the new time charter. The term “in direct continuation” does not refer to the contractually agreed income.
The time charter period is approximately 2 years and the gross annual income from the time charter agreement is expected to be approximately $ 21.5 million.
Tony Lauritzen, CEO of Dynagas LNG Partners LP, commented:
“We are delighted to have entered into this new agreement with Equinor, which the Arctic Aurora has been working on since it shipped in 2013. This reflects our longstanding relationship with Equinor and the excellent operational performance of Arctic Aurora and our manager across the region for years. ”
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Dynagas LNG Partners LP. (NYSE: DLNG) is a master limited partnership that owns and operates liquefied natural gas (LNG) transport companies that operate on multi-year charter flights. The partnership’s current fleet consists of six LNG transport companies with a total capacity of approx. 914,000 cubic meters.
Visit the partnership’s website at www.dynagaspartners.com
Dynagas LNG Partners LP
Attention: Michael Gregos
Tel. +30 210 8917960
Email: [email protected]
Investor Relations / Financial Media:
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Tel. (212) 661-7566
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Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protection for forward-looking statements to encourage companies to post potential information about their business. Forward-looking statements include statements about plans, goals, objectives, strategies, future events or performance, as well as underlying assumptions and other statements that are not statements of historical fact.
The partnership wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and incorporates this warning in connection with that safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “forecast”, “plan”, “plan”, “potentially”, “project”, “will”, “can”, “should” ” Expect, “anticipated,” “pending” and similar expressions identify forward-looking statements. These forward-looking statements are not intended to be a guarantee of future results and should not be relied upon.
The forward-looking statements in this press release are based on various assumptions and estimates, many of which are based on other assumptions, including, without limitation, the partnership’s examination of historical operating trends, data contained in its records, and other data provided by third parties . Although the partnership believes that these assumptions were reasonable at the time they were made because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the control of the partnership, the partnership cannot assure you that that they achieve or will meet these expectations, beliefs or projections.
In addition to these important factors, other important factors that the Partnership believes could cause actual results to differ materially from those discussed, expressed, or implied in any forward-looking statements include, but are not limited to, the strength of the world Economies and currency fluctuations, general market conditions including fluctuations in charter rates, owner days and ship values, changes in supply and demand for Liquefied Natural Gas (LNG) shipping capacities, changes in the partnership’s operating costs, including bunker prices, dry dock and insurance costs, market for the partnership’s ships , Availability of funding and refinancing, changes in government laws, rules and regulations or actions by regulators, economic, regulatory, political and governmental conditions that affect shipping hrt and impact the LNG industry, potential liability of pending or future litigation and potential costs due to environmental damage and ve self-collisions, general national and international political conditions, possible disruption of shipping routes due to accidents, political events, public health threats, pandemics, international hostilities and instability, piracy, terrorist attacks or events including “trade wars”, ship failures, cases of exhibitions, the duration and severity of the COVID-19 outbreak, the impact of public health threats and outbreaks of other highly communicable diseases, and the impact of the expected setting of LIBOR after 2021 on the interest rates of our debt related to LIBOR, the amount of cash available for distribution and other factors. Please see the partnership filings with the Securities and Exchange Commission for more information about these and other risks and uncertainties. The information contained herein speaks only as of the date of this agreement, and the partnership disclaims any intention or obligation to update any forward-looking statements as a result of developments after the date of this release.