Dynagas LNG Partners Delivers Yenisei River to Yamal LNG, Extends Charter

Owner and operator of LNG carriers Dynagas LNG Partners LP has delivered its vessel Yenisei River to Yamal LNG earlier than planned and extended the long-term charter contract.

Specifically, the company has entered into an agreement with Yamal Trade for the early commencement of the long-term charter contract for employment of the 155,000 cbm ice class LNG carrier in the Yamal LNG Project.

Pursuant to this agreement, the 2013-built Yenisei River will commence operating 180 days earlier and as a result, the firm charter period has been extended from 15 years to 15 years plus 180 days.

As informed, Yenisei River was delivered early to Yamal LNG on August 14, 2018, immediately upon completion of its mandatory statutory class five-year special survey and dry-docking in Singapore.

“We are very pleased with the extension of the firm charter period of the Yenisei River and its early delivery to Yamal LNG. We have been focused on securing long-term employment and filling short and medium-term availability gaps in our fleet,” Tony Lauritzen, Chief Executive Officer of the Partnership, commented.

“Now that Yenisei River has commenced employment with Yamal LNG early and the Lena River has been contracted for employment by a major energy company, following its redelivery from Gazprom and prior to commencing its long-term charter with Yamal LNG, our first potential vessel available for employment will be the Arctic Aurora in 2021. Thereafter, our next vessel available for employment is the Clean Energy in 2026,” Lauritzen added.

“We believe the Yamal LNG Project is running ahead of schedule and we are pleased we could accommodate Yamal LNG’s shipping needs with the early delivery of the Yenisei River. In addition, one of our Sponsor’s vessels (which we do not own and do not generate any revenues from) was also delivered to Yamal LNG six months earlier than its earliest contracted delivery date,” he further said.

Dynagas LNG Partners’ fleet currently comprises six LNG carriers, with an aggregate carrying capacity of approximately 914,000 cubic meters.