Dynagas seals charter extensions with Statoil and PetroChina

Dynagas seals charter extensions with Statoil and PetroChina

Monaco-based LNG carrier owner Dynagas LNG Partners has entered into a new long-term time charter with Statoil for 2013-built LNG carrier Arctic Aurora while PetroChina has taken an extension option up for 2007-built LNG carrier Clean Energy.

Statoil signed a new three-year charter for the 155,000 cu m Arctic Aurora, which has been on charter to the Norwegian oil and gas giant since 2013. The extended charter commences in the third quarter of 2018, and Statoil will have the option to extend by two consecutive 12-month periods.

Meanwhile, PetroChina exercised its extension option on the 150,000 cu m Clean Energy by a minimum period of four months. The extension keeps the vessel employed through to June 2018, prior to its delivery to Gazprom in July 2018 on an eight-year time charter.

Tony Lauritzen, chief executive officer of Dynagas LNG Partners, commented: “We are pleased to report our extended charters with Statoil and PetroChina. Statoil is an important partner for Dynagas that further solidifies our operation of LNG carriers in subzero and ice bound areas. The charter with PetroChina strengthens an important cooperation that provides cleaner energy in a rapidly growing Chinese gas market. As previously communicated we have been executing on our strategy of securing term employment for part of our availability in 2018 on the back of an improving LNG shipping market.”

The new deals increase the partnership’s backlog to around $1.51bn.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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