Benzinga | Apr 21, 2021 09:17AM EDT

Dynagas LNG Partners LP Announces New Time Charter For LNG Carrier Arctic Aurora

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."