Dynagas Vessel Employment Almost Full
Monaco-headquarters Dynagas LNG Partners said that it had estimated contracted time charter coverage for 98% of its fleet estimated available days for 2019, 100% of its fleet estimated Available Days for 2020 and 92% of its fleet estimated Available Days for 2021.
As of March 21, 2019, the Partnership’s contracted revenue backlog estimate was $1.38 billion, with an average remaining contract term of 9.5 years, the Liquefied Natural Gas (LNG) maritime transportation company said.
Tony Lauritzen, Chief Executive Officer of Dynagas said: "All of our LNG carriers are or to be employed on long-term contracts with an average contract duration of approximately ten years, with the first potential vessel availability in the year 2021 (with only one vessel) and thereafter in the year 2026."
"We believe that our revenue backlog estimate of approximately $1.4 billion is driven in part by our dominant market share in the ownership and operation of ice class LNG carriers," he added.
He also said that the Yamal LNG project is progressing well. The Lena River is currently employed on a multi -month charter contract with a large US gas producer until the vessel is employed under the 15 year contract with Yamal LNG, which is expected to commence in the third quarter of 2019.