Dynagas LNG Partners (DLNG) 6-K 19 Sep 24 2024 Q2 Current report (foreign) Financial data

Document Entity Information

Document Entity Information	6 Months Ended
	Jun. 30, 2024
Document Entity Information
Document Type	6-K
Document Period End Date	Jun. 30, 2024
Entity File Number	001-36185
Entity Registrant Name	DYNAGAS LNG PARTNERS LP
Entity Central Index Key	0001578453
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 35,565	$ 73,752
Trade accounts receivable	491	709
Prepayments and other assets	3,122	8,117
Inventories	769	751
Accrued charter revenue, current portion	4,250	6,080
Deferred Charges, current portion	217	217
Derivative financial instrument, current portion	5,009	$ 15,631
Due from related party, current	$ 927
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Total current assets	$ 50,350	$ 105,257
FIXED ASSETS, NET:
Vessels, net	781,375	797,363
Total fixed assets, net	781,375	797,363
OTHER NON-CURRENT ASSETS:
Due from related party	$ 1,350	$ 1,350
Other Receivable, after Allowance for Credit Loss, Noncurrent, Related Party, Type [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Accrued charter revenue	$ 567	$ 2,298
Deferred charges	749	856
Other receivables, non- current	4,037	1,789
Total assets	838,428	908,913
CURRENT LIABILITIES:
Current portion of long-term debt and other financial liabilities, net of unamortized deferred financing fees of $555 and $1,058, respectively	43,612	419,584
Trade payables	12,076	13,815
Due to related party	429	1,555
Accrued liabilities	2,454	3,291
Deferred Revenue - Current	667	497
Unearned revenue	12,253	20,019
Total current liabilities	71,491	458,761
NON-CURRENT LIABILITIES:
Deferred revenue	1,581	1,912
Long-term debt and other financial liabilities, net of current portion and unamortized deferred financing fees of $1,907 and $nil, respectively	298,901
Other payables, non- current	2,248
Total non-current liabilities	302,730	1,912
Commitments and contingencies
PARTNERS' EQUITY:
Common unitholders (unlimited authorized; 36,802,247 units issued and outstanding as at June 30, 2024 and December 31, 2023)	337,375	321,424
General Partner (35,526 units issued and outstanding as at June 30, 2024 and December 31, 2023)	118	102
Total partners' equity	464,207	448,240
Total liabilities and partners' equity	838,428	908,913
Series A Preferred unitholders
PARTNERS' EQUITY:
Preferred Unitholders	73,216	73,216
Series B Preferred unitholders
PARTNERS' EQUITY:
Preferred Unitholders	$ 53,498	$ 53,498

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred finance fees, current portion	$ 555	$ 1,058
Debt issuance costs, noncurrent, net	$ 1,907	$ 0
Common unitholders - units issued	36,802,247	36,802,247
Common unitholders - units outstanding	36,802,247	36,802,247
General partner issued	35,526	35,526
General partner outstanding	35,526	35,526
Series A Preferred unitholders
Preferred units, authorized	3,450,000	3,450,000
Preferred units, issued	3,000,000	3,000,000
Preferred units, outstanding	3,000,000	3,000,000
Series B Preferred unitholders
Preferred units, authorized	2,530,000	2,530,000
Preferred units, issued	2,200,000	2,200,000
Preferred units, outstanding	2,200,000	2,200,000

Unaudited Interim Condensed Con

Unaudited Interim Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
REVENUES:
Voyage revenues	$ 75,670	$ 74,916
EXPENSES:
Voyage expenses (including related party)	(1,708)	(1,518)
Vessel operating expenses	(15,421)	(15,390)
General and administrative expenses (including related party)	(1,114)	(992)
Management fees-related party	(3,281)	(3,168)
Depreciation	(15,988)	(15,816)
Dry-docking and special survey costs		(390)
Operating income	38,158	37,642
OTHER INCOME/(EXPENSES):
Interest and finance costs	(18,401)	(19,549)
Interest income	1,564	1,147
Gain on derivative financial instruments, net	1,668	5,023
Loss on Debt extinguishment	(331)	(154)
Other expense	(110)
Other, net	(90)	(79)
Total other expenses	(15,700)	(13,612)
Partnership's Net Income	22,458	24,030
Common unitholders' interest in Net Income	15,951	18,230
General Partner's interest in Net Income	$ 16	$ 19
Earnings per unit, basic and diluted:
Common unit, basic	$ 0.43	$ 0.50
Common unit, diluted	$ 0.43	$ 0.50
Weighted average number of units outstanding, basic and diluted:
Common units, basic	36,802,247	36,802,247
Common units, diluted	36,802,247	36,802,247
Series A Preferred unitholders
OTHER INCOME/(EXPENSES):
Preferred unitholders' interest in Net Income	$ 3,375	$ 3,375
Series B Preferred unitholders
OTHER INCOME/(EXPENSES):
Preferred unitholders' interest in Net Income	$ 3,116	$ 2,406

Unaudited Interim Consolidated

Unaudited Interim Consolidated Statements of Partners' Equity - USD ($) $ in Thousands	Series A Preferred	Series B Preferred	Common	General Partner	Total
Balance at the beginning at Dec. 31, 2022	$ 73,216	$ 53,498	$ 297,139	$ 78	$ 423,931
Balance at the beginning (shares) at Dec. 31, 2022	3,000,000	2,200,000	36,802,247	35,526
Net income:	$ 3,375	$ 2,406	$ 18,230	$ 19	24,030
Distributions declared and paid (common and preferred units) (Note 8)	(3,375)	(2,406)			(5,781)
Balance at the end at Jun. 30, 2023	$ 73,216	$ 53,498	$ 315,369	$ 97	442,180
Balance at the end (shares) at Jun. 30, 2023	3,000,000	2,200,000	36,802,247	35,526
Balance at the beginning at Dec. 31, 2023	$ 73,216	$ 53,498	$ 321,424	$ 102	448,240
Balance at the beginning (shares) at Dec. 31, 2023	3,000,000	2,200,000	36,802,247	35,526
Net income:	$ 3,375	$ 3,116	$ 15,951	$ 16	22,458
Distributions declared and paid (common and preferred units) (Note 8)	(3,375)	(3,116)			(6,491)
Balance at the end at Jun. 30, 2024	$ 73,216	$ 53,498	$ 337,375	$ 118	$ 464,207
Balance at the end (shares) at Jun. 30, 2024	3,000,000	2,200,000	36,802,247	35,526

Unaudited Interim Consolidate_2

Unaudited Interim Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from Operating Activities:
Net income:	$ 22,458	$ 24,030
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	15,988	15,816
Amortization and write-off of deferred financing fees	734	862
Deferred revenue amortization	3,400	(7,297)
Amortization and write off of deferred charges	108	107
Dry-docking and special survey costs		390
Gain on derivative financial instruments, net	(1,668)	(5,023)
Loss on Debt extinguishment	331	154
Changes in operating assets and liabilities:
Trade accounts receivable	218	(8,507)
Prepayments and other assets	5,050	(5,037)
Inventories	(18)	(1,009)
Due from/to related parties	(2,053)	(1,014)
Deferred expenses	(121)	(66)
Trade accounts payable	(1,737)	973
Accrued liabilities	(813)	(828)
Unearned revenue	(7,766)	8,883
Net cash provided by Operating Activities	34,111	22,434
Cash flows used in Investing Activities:
Ballast water treatment system installation	(27)	(86)
Net cash used in Investing Activities	(27)	(86)
Cash flows from Financing Activities:
Distributions declared and paid	(6,491)	(5,781)
Proceeds from long term debt and other financial liabilities	344,975
Repayment of long-term debt	(420,642)	(55,270)
Receipt of derivative instruments	12,235	11,733
Payment of deferred financing fees	(2,348)
Net cash used in Financing Activities	(72,271)	(49,318)
Net decrease in cash and cash equivalents	(38,187)	(26,970)
Cash and cash equivalents at beginning of the period	73,752	79,868
Cash and cash equivalents at end of the period	$ 35,565	$ 52,898

Basis of Presentation and Gener

Basis of Presentation and General Information	6 Months Ended
	Jun. 30, 2024
Basis of Presentation and General Information
Basis of Presentation and General Information	1. Basis of Presentation and General Information: Dynagas LNG Partners LP (“Dynagas Partners” or the “Partnership”) was incorporated as a limited partnership on May 30, 2013, under the laws of the Republic of the Marshall Islands. On November 18, 2013, the Partnership successfully completed its initial public offering (the “IPO”), pursuant to which, the Partnership offered and sold 8,250,000 common units to the public at $18.00 per common unit, and in connection with the closing of the IPO, the Partnership’s Sponsor, Dynagas Holding Ltd., a company beneficially wholly owned by Mr. Georgios Prokopiou, the Partnership’s Chairman and major unitholder and certain of his close family members, offered and sold 4,250,000 common units to the public at $18.00 per common unit. In connection with the IPO, the Partnership entered into certain agreements including: (i) an omnibus agreement with the Sponsor, as amended, (the “Omnibus Agreement”) and, (ii) a $30 million interest free revolving credit facility with its Sponsor (the “$30 Million Sponsor Facility”) (Note 3(b)), which was extended on November 14, 2018 until November 2023, to be used for general Partnership purposes. The Partnership earned in the six months ended as of June 30, 2024, 34% (2023: 39%) of its revenues from Yamal Trade Pte. Ltd. (“Yamal”), which traded primarily from Russian LNG ports. Due to the recent Russian conflicts with Ukraine, the United States, European Union, Canada and other Western countries and organizations announced and enacted from February 2022 to date, numerous sanctions against Russia which have not affected LNG shipping in the main trading routes of the Partnership’s vessels. The Partnership’s time charter contracts have therefore currently not been affected by the sanctions imposed to date due to the events in Russia and Ukraine. As there is currently uncertainty regarding the global impact of the conflict, which is ongoing, it is possible that further developments in sanctions or escalation of the conflict will affect the Partnership’s ability to continue to employ two out of its six vessels to the current charterers and the suspension, termination, or cancellation of such charter parties, could thus adversely affect the Partnership’s results of operation, cash flows and financial condition. The Partnership believes that despite the continuing uncertainty, in the event of suspension, termination, cancellation of any of these charters, it will be able to enter into replacement time charters acceptable to the lenders. As of June 30, 2024, the Partnership reported cash and cash equivalents of $35.6 million had a working capital deficit of $21.1 million, which is mainly due to the current portion of its long-term debt and other financial liabilities. The Partnership believes that current sources of funds and those that the Partnership anticipates to internally generate for a period of at least the next twelve months, will be sufficient to fund the operations of its Fleet, and to meet the Partnership’s normal working capital requirements, service principal and interest of debt and other financial liabilities, and make at least the required distribution on Series A Preferred Units and Series B Preferred Units in accordance with the Partnership’s Agreement. Accordingly, the Partnership continues to adopt the going concern basis in preparing its financial statements. The Partnership is engaged in the seaborne transportation industry through the ownership and operation of high specification LNG vessels and is the sole owner (directly or indirectly) of all outstanding shares or units of the following subsidiaries as of June 30, 2024: Vessel Owning Subsidiaries: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Country of incorporation/ ​ Delivery date from ​ Company Name ​ formation ​ Vessel Name ​ shipyard ​ Delivery date to Partnership ​ Cbm Capacity Pegasus Shipholding S.A. (“Pegasus”) Marshall Islands Clean Energy March 2007 October 2013 149,700 Lance Shipping S.A. (“Lance”) Marshall Islands Ob River July 2007 October 2013 149,700 Seacrown Maritime Ltd. (“Seacrown”) Marshall Islands Amur River January 2008 October 2013 149,700 Fareastern Shipping Limited (“Fareastern”) Malta Arctic Aurora July 2013 June 2014 155,000 Navajo Marine Limited (“Navajo”) Marshall Islands Yenisei River July 2013 September 2014 155,000 Solana Holding Ltd. (“Solana”) Marshall Islands Lena River October 2013 December 2015 155,000 ​ 1. Basis of Presentation and General Information (continued): Non-Vessel Owning Subsidiaries: ​ Company Name Country of incorporation/formation Purpose of incorporation Dynagas Equity Holding Limited ​ Marshall Islands ​ Holding company that owns all of the outstanding share capital of Arctic LNG Carriers Ltd. (“Arctic LNG”). Dynagas Operating GP LLC ​ Marshall Islands ​ Limited Liability Company in which the Partnership holds a 100% membership interest and which has 100% of the Non-Economic General Partner Interest in Dynagas Operating LP. Dynagas Operating LP ​ Marshall Islands ​ Limited partnership in which the Partnership holds a 100% limited partnership interest and which owns 100% of the issued and outstanding share capital of Dynagas Equity. Dynagas Finance Inc. ​ Marshall Islands ​ Wholly owned subsidiary of the Partnership whose activities were limited to the co-issuance of the 2019 Notes, discussed under our Annual Report on Form 20-F for the year ended December 31, 2022, which was filed with the SEC, on April 21, 2023 and engaging in other activities incidental thereto. Arctic LNG Carriers Ltd. ​ Marshall Islands ​ Wholly owned subsidiary of the Partnership which is directly wholly owned by Dynagas Equity and which owns all of the issued and outstanding share capital of Pegasus, Lance, Seacrown, Fareastern, Navajo, Solana and Dynagas Finance LLC. Dynagas Finance LLC ​ Delaware ​ Wholly owned subsidiary of Arctic LNG and co-borrower of the Partnership’s Term Loan discussed under Note 5. ​ Since the Partnership’s inception, the technical, administrative, and commercial management of the Partnership’s fleet is performed by Dynagas Ltd. (“Dynagas” or the “Manager”), a related company, wholly owned by the Partnership’s Chairman (Note 3(a)). As of June 30, 2024, the Partnership’s Sponsor owned 42.4% of the outstanding equity interests in the Partnership (excluding the Series A Preferred Units and the Series B Preferred Units, both of which, generally, have no voting rights), including the 0.1% general partner interest retained by it, as the General Partner, through Dynagas GP LLC, which is owned and controlled by the Sponsor. The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the U.S Securities and Exchange Commission (the “SEC”) for interim financial reporting. The unaudited interim condensed consolidated financial statements include the accounts of Dynagas Partners and its wholly owned subsidiaries, referred to above. All intercompany balances and transactions have been eliminated upon consolidation. These unaudited interim condensed consolidated financial statements and accompanying notes should be read in conjunction with the Partnership’s audited consolidated financial statements for the year ended December 31, 2023 and notes thereto included in its Annual Report on Form 20-F, filed with the SEC on April 26, 2024. In the opinion of the Partnership’s management, all adjustments, which include only normal recurring adjustments, necessary for a fair presentation of the financial position, operating results, and cash flows have been included in the financial statements for the periods presented. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. 1. Basis of Presentation and General Information (continued): Concentration of Credit Risk During the six-month periods ended June 30, 2024 and 2023, charterers that individually accounted for more than 10% of the Partnership’s revenues were as follows: ​ ​ ​ ​ ​ ​ ​ Charterer 2024 2023 A 39 % 45 % B 34 % 39 % C 27 % 16 % Total 100 % 100 % ​ The maximum aggregate amount of loss due to credit risk, net of related allowances, that the Partnership would have incurred if the aforementioned charterers failed completely to perform according to the terms of their respective charter parties, amounted to $491 and $709 as of June 30, 2024 and December 31, 2023, respectively. ​ Provision for credit Losses The amount shown as trade accounts receivable at each balance sheet date, mainly includes receivables from charterers for hire from lease agreements, net of any provision for doubtful accounts, if any. At each balance sheet date, all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate provision for doubtful accounts primarily based on the aging of such balances and any amounts in dispute. Operating lease receivables under ASC 842 are not in scope of ASC 326 for assessment of credit loss. ASC 842 requires lessors to evaluate the collectability of all lease payments. If collection of all operating lease payments, plus any amount necessary to satisfy a residual value guarantee, is not probable (either at lease commencement or after the commencement date), lease income is constrained to the lesser of cash collected or lease income reflected on a straight-line or another systematic basis, plus variable rent when it becomes accruable. Provision for doubtful accounts as of June 30, 2024 and December 31, 2023, was nil. Financial instruments, which may potentially subject the Partnership to significant concentrations of credit risk, consist principally of cash and cash equivalents and trade accounts receivable. The maximum exposure to loss due to credit risk is the book value at the balance sheet date. The Partnership places its cash and cash equivalents, consisting mostly of deposits, with high credit qualified financial institutions. The Partnership performs periodic evaluations of the relative credit standing of those financial institutions. The Partnership limits its credit risk with trade accounts receivable by performing ongoing credit evaluations of each of its charterer’s financial condition and generally does not require collateral for its trade accounts receivable. The Partnership is exposed to credit risk in the event of non-performance by the counterparty to the derivative instrument; however, the Partnership limits its exposure by entering into transactions with counterparties with high credit ratings. No allowance was recorded on insurance claims as of June 30, 2024 and December 31, 2023.

Significant Accounting Policies

Significant Accounting Policies and Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2024
Significant Accounting Policies and Recent Accounting Pronouncements
Significant Accounting Policies and Recent Accounting Pronouncements	2. Significant Accounting Policies and Recent Accounting Pronouncements: A summary of the Partnership’s significant accounting policies can be found in the Partnership’s consolidated financial statements included in the Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on April 26, 2024. There have been no material changes to these policies in the six-month period ended June 30, 2024, except for as discussed below: Sale and Leaseback Transactions In accordance with ASC 842, the Partnership, as seller-lessee, determines whether the transfer of an asset should be accounted for as a sale in accordance with ASC 606. The existence of an option for the seller-lessee to repurchase the asset precludes the accounting for the transfer of the asset as a sale unless both of the following criteria are met: (1) the exercise price of the option is the fair value of the asset at the time the option is exercised and (2) there are alternative assets, substantially the same as the transferred asset, readily available in the marketplace; and the classification of the leaseback as a finance lease or a sales-type lease, precludes the buyer-lessor from obtaining control of the asset. If the transfer of the asset meets the criteria of sale, the Company, as seller-lessee recognizes the transaction price for the sale when the buyer-lessor obtains control of the asset, derecognizes the carrying amount of the underlying asset and accounts for the lease in accordance with ASC 842. If the transfer does not meet the criteria of sale, the Partnership does not derecognize the transferred asset, accounts for any amounts received as a financing arrangement and recognizes the difference between the amount of consideration received and the amount of consideration to be paid as interest.

Transactions with related parti

Transactions with related parties	6 Months Ended
	Jun. 30, 2024
Transactions with related parties
Transactions with related parties	3. Transactions with related parties: During the six-month periods ended June 30, 2024 and 2023, the Partnership incurred the following charges in connection with related party transactions, which are included in the accompanying unaudited interim condensed consolidated statements of comprehensive income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ June 30 ​ ​ 2024 ​ 2023 Included in voyage expenses (including related party) ​ ​ ​ ​ Charter hire commissions (a) ​ $ 987 $ 811 Included in general and administrative expenses (including related party) ​ Executive services fee (c) ​ $ 291 $ 291 Administrative services fee (d) ​ $ 60 $ 60 Management fees-related party ​ Management fees (a) ​ $ 3,281 $ 3,168 ​ As of June 30, 2024 and December 2023, balances with related parties consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 Assets: ​ ​ ​ ​ Working capital due from Manager (a) ​ $ 927 $ — Total assets due from related party, current ​ $ 927 $ — ​ ​ ​ ​ ​ ​ ​ Security deposits to Manager (a) ​ $ 1,350 ​ $ 1,350 Total assets due from related party, non-current ​ $ 1,350 ​ $ 1,350 ​ ​ ​ ​ ​ ​ ​ Liabilities included in Due to related party: ​ Working capital due to Manager (a) ​ $ — ​ $ 615 Executive service charges due to Manager (c) ​ $ 145 $ 143 Administrative service charges due to Manager (e) ​ $ 30 $ 30 Other Partnership expenses due to Manager (a) ​ $ 254 $ 767 Total liabilities due to related party, current ​ $ 429 $ 1,555 ​ (a) Master Management Agreement The Partnership has entered into a master management agreement (the “Master Agreement”) with Dynagas Ltd. (the “Manager”) for the provision of commercial, technical, crew, accounting and vessel administrative services to the Partnership’s owned or controlled vessels for a technical management fee of an absolute amount of $2,750 per day per vessel commencing on January 1, 2021. Beginning on the first calendar year after the commencement of the Master Agreement and each calendar year thereafter, these fees are adjusted upwards by 3%, subject to further annual increases to reflect material unforeseen costs of providing the management services. The amount of such further increase is to be agreed between the Partnership and the Manager and will be reviewed and approved by the Partnership’s Conflicts Committee. ​ 3. Transactions with related parties (continued): Under the terms of the Master Agreement, the Manager charges the Partnership for any additional capital expenditures, financial costs, operating expenses, and general and administrative expenses that are not covered by the management fees. The Master Agreement initially terminates on December 31, 2030, and upon expiration, automatically extends in additional five-year increments if notice of termination is not previously provided by the Partnership’s vessel-owning subsidiaries. In the event the Master Agreement is terminated for any reason other than default by the Manager, the applicable management fee under the Master Agreement shall continue to be payable for a further period of six months as from the effective date of such termination. The Manager may also terminate the Master Agreement in the event that the Partnership undergoes a change of control, in which case, subject to and pursuant to the terms of the Master Agreement, the Partnership would be required to pay to the Manager an amount equal to the net present value calculated at a discount rate of 5% per annum of the total aggregate management fees payable from the date of such termination to June 30 th During both of the six-month periods ended June 30, 2024 and 2023, each vessel was charged a daily management fee of $3.0 and $2.9, respectively. During the six-month periods ended June 30, 2024 and 2023, management fees under the vessel Master Agreement amounted to $3,281 and $3,168, respectively, and are separately reflected in the accompanying unaudited interim condensed consolidated statements of comprehensive income. The Master Agreement also provides for a commission of 1.25% over charter-hire agreements arranged by the Manager. During the six-month periods ended June 30, 2024 and 2023, charter hire commissions under the Master Agreement amounted to $987 and $811, respectively, and are included in Voyage expenses (including related party) in the accompanying unaudited interim condensed consolidated statements of comprehensive income. The Master Agreement also provides for an advance equal to three months daily management fee, which shall continue to be maintained during its’ term by the Manager. Such advances as of June 30, 2024 and December 31, 2023, amounted to $1,350, which are separately reflected in Non-Current Assets as Due from related party in the unaudited condensed consolidated balance sheets. In addition, the Manager makes payments for operating expenses with funds provided by the Partnership. As of June 30, 2024 and December 31, 2023 the amount of $927 was due from the Manager and the amount of $615 was due to the Manager, respectively, in relation to these operating expenses. The Manager also makes payments for other expenses (e.g. extra war risk insurances) on behalf of the Partnership. As of June 30, 2024 and December 31, 2023 amounts of $254 and $767, respectively, were due to the Manager in relation to payments for other expenses. (b) Loan from related party On November 18, 2013, upon the completion of its IPO, the Partnership entered into the $30 Million Sponsor Facility with an original term of five years from the closing date, to be used for general Partnership purposes, including working capital. The $30 Million Sponsor Facility was extended on November 14, 2018, for an additional term of five years on terms and conditions identical to the initial credit facility (the “$30 Million Extended Sponsor Facility”). The $30 million Extended Sponsor Facility could be drawn and be prepaid in whole or in part at any time during the life of the facility which is until November 2023. No amounts had been drawn until the expiration of the $30 Million Extended Sponsor Facility. ​ 3. Transactions with related parties (continued): (c) Executive Services Agreement On March 21, 2014, the Partnership entered into an executive services agreement (the “Executive Services Agreement”) with its Manager with retroactive effect from the IPO closing date, pursuant to which the Manager provides the Partnership the certain services of its executive officers, who report directly to the Board of Directors. Under the Executive Services Agreement, the Manager is entitled to an executive services fee of €538 thousand per annum (or $583 on the basis of an average Euro/US Dollar exchange rate of €1.0000/$1.0835 in the six-month period ended June 30, 2024), payable in equal monthly installments. The Executive Services Agreement had an initial term of five years and, on November 18, 2018, was automatically renewed for successive five-year terms, unless terminated earlier. During both six-month periods ended June 30, 2024 and 2023, executive service fees amounted to $291 and are included in general and administrative expenses (including related party) in the accompanying unaudited interim condensed consolidated statements of comprehensive income. As of June 30, 2024 and December 31, 2023 amounts of $145 and $143, respectively, were due to the Manager in relation to these executive services. (d) Administrative Services Agreement On December 30, 2014, and with effect from the IPO closing date, the Partnership entered into an administrative services agreement (the “Administrative Services Agreement”) with its Manager, according to which the Partnership is provided with certain financial, accounting, reporting, secretarial and information technology services for a monthly fee of $10, plus expenses, payable in quarterly installments. The Administrative Services Agreement can be terminated upon 120 days’ notice granted either by the Partnership’s Board of Directors or by Dynagas. During the six-month periods ended June 30, 2024 and 2023, administrative service fees amounted to $60 and are included in general and administrative expenses (including related party) in the accompanying unaudited interim condensed consolidated statements of comprehensive income.

Vessels, net

Vessels, net	6 Months Ended
	Jun. 30, 2024
Vessels, net.
Vessels, net	4. Vessels, net: The amounts in the condensed consolidated balance sheets are analyzed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vessel Accumulated Net Book ​ ​ Cost ​ Depreciation ​ Value Balance December 31, 2023 ​ $ 1,175,834 ​ $ (378,471) ​ $ 797,363 Depreciation ​ — ​ (15,988) ​ (15,988) Balance June 30, 2024 ​ $ 1,175,834 ​ $ (394,459) ​ $ 781,375 ​

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2024
Long-Term Debt.
Long-Term Debt	5. Long-Term Debt: The amounts shown in the condensed consolidated balance sheets are analyzed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, Debt instruments 2024 2023 Long-term debt and other financial liabilities ​ ​ 344,975 ​ ​ 420,642 Total ​ $ 344,975 $ 420,642 Less deferred financing fees ​ (2,462) (1,058) Total debt, net of deferred finance costs ​ $ 342,513 $ 419,584 Less current portion, net of deferred financing fees ​ $ (43,612) $ (419,584) Long-term debt and other financial liabilities, net of current portion and deferred financing fees ​ $ 298,901 $ — ​ ​ 5. Long-Term Debt (continued): $675 Million Senior Secured Term Loan Facility ($675 Million Credit Facility) On September 18, 2019, Fareastern Shipping Limited, Pegasus Shipholding S.A., Lance Shipping S.A., Seacrown Maritime Ltd., Navajo Marine Limited and Solana Holding Ltd., wholly owned by the Partnership, as co-borrowers, entered into a syndicated $675.0 million senior secured term loan, the $675 Million Credit Facility, with leading international banks. On September 25, 2019, the amount of $675.0 million was drawn under the $675 Million Credit Facility and the Partnership repaid in full the indebtedness outstanding under the $480 Million Senior Secured Term Loan Facility of $470.4 million. On October 30, 2019, the remaining amount of $204.6 million plus cash on hand was used to repay the $250 Million Senior Unsecured Notes due in 2019. On April 6, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated Amsterdam Trade Bank NV (“ATB”) as a Specially Designated National (“SDN”) pursuant to Executive Order 14024. ATB was among several lenders to the Partnerships’ $675 Million Credit Facility. On April 22, 2022, ATB was declared bankrupt by the District Court of Amsterdam whereby the court appointed certain bankruptcy trustees (“Bankruptcy Trustees”). On July 12, 2022 the Department of the Treasury (Washington, D.C. 20220) issued License No. RUSSIA-EO14024-2022-921484-1 to the Bankruptcy Trustees which authorized the Bankruptcy Trustees to engage in all transactions ordinarily incident and necessary to the wind down of transactions with ATB. (“Specific License”). On October 11, 2022, and pursuant to the Specific License, the Partnership and all Lenders of the $675 Million Credit Facility (including the Bankruptcy Trustees on behalf of ATB) entered into a Supplemental Agreement to the $675 Million Credit Facility and a Deed of Retirement. Pursuant to their terms, among other things: (i) the Partnership made a voluntary prepayment of $18,730, which was effected on October 12, 2022 and applied in prepayment of the entire participation of ATB to the $675 Million Credit Facility, including all principal, interest, and costs owing by the Partnership as borrower to ATB; (ii) the principal amount of $ 2,195 due to ATB that was not paid, was waived and forgiven; (iii) ATB was retired as Arranger and as Lender under the $675 Million Credit Facility; (iv) an amount equal to the prepayment amount was released from the Cash Collateral Account in order to make the prepayment to ATB referred to above; and (v) the Agent agreed to apply to the relevant Sanctions Authority in the United States for the return to the Partnership of the amount which was paid by the Partnership to the Agent between March 2022 and September 2022 in relation to the principal and interest repayments for ATB and which are currently blocked by the Agent due to the application of Sanctions. On the date of repayment, the Partnership recognized a gain on debt extinguishment of $2,072 in the Consolidated Statements of Comprehensive Income according to the debt extinguishment guidance of ASC 470-50 “Debt Modifications and Extinguishments.” The gain on debt extinguishment of $2,072 resulted from: a) the gain in relation to the principal amount of $2,195 which was waived and forgiven further to the Deed of Retirement, as mentioned above, and b) the write-off of the amount of $123 of unamortized debt discounts attributable to the debt of ATB. The amount of $1,789 which was paid by the Partnership to the Agent between March 2022 and September 2022 in relation to the principal and interest repayments for ATB (“Blocked Funds”) and which is currently blocked by the Agent due to the application of Sanctions, is included in Other assets, non- current in the Consolidated Balance Sheets. The Partnership considers the Blocked Funds to be recoverable following the issuance of the license by OFAC for the release of the Blocked Funds by the Agent. ​ 5. Long-Term Debt (continued): On March 27, 2023, the Partnership obtained approval from all Lenders of the $675 Million Credit Facility for the following: (i) to make a voluntary prepayment of $31.3 million, which was effected on March 27, 2023, following the release of the funds standing to the credit of the Cash Collateral Account, which was presented as Non- current Restricted Cash in the Consolidated Balance Sheet as of December 31, 2022. This amount was applied in inverse order of maturity of the $675 Million Credit Facility by reducing the balloon payment; and (ii) the removal of the requirement for the maintenance of $31.3 million in the Cash Collateral Account. On the date of prepayment of the $31.3 million, the Partnership recognized a loss on debt extinguishment of $154 in the Consolidated Statements of Comprehensive Income according to the debt extinguishment guidance of ASC 470-50 “Debt Modifications and Extinguishments”. The loss on debt extinguishment of $154 resulted from: the write-off of the unamortized debt discounts attributable to the portion of the $675 Million Credit Facility that was extinguished. On June 26, 2023, the Partnership and all Lenders of the $675 Million Credit Facility entered into a Supplemental Agreement to the $675 Million Credit Facility (“the Second supplemental agreement”). Pursuant to its’ terms, among other things: (i) the abovementioned prepayment was incorporated in the security documents; and (ii) the rate of interest was amended in order to reflect the transition to a risk-free rate. On June 27, 2024, the Partnership utilized the proceeds from the Lease Financing, discussed below, together with $63,667 of its own funds, to fully repay its $675 Million Credit Facility. Other Financial Liabilities - Sale and Leaseback Transactions CDBL Sale and Leaseback On June 19, 2024, the Partnership entered into sale and leaseback agreements with China Development Bank Financial Leasing Co. Ltd. (“CDBL”) for four of its vessels, the OB River Clean Energy Amur River Arctic Aurora Four Vessels OB River Clean Energy Amur River Arctic Aurora OB River Clean Energy Amur River Arctic Aurora Four Vessels The Partnership is required to maintain at all times a value maintenance ratio of at least 120% of the charterhire principal. The charterhire principal amortizes in 20 consecutive quarterly installments paid in arrears for the OB River Clean Energy Amur River Arctic Aurora As of June 30, 2024, the Partnership was in compliance with all financial covenants and non-financial covenants prescribed in CDBL Sale and Leaseback agreements. ​ 5. Long-Term Debt (continued): The annual principal payments for the Partnership’s outstanding CDBL Sale and Leaseback as of June 30, 2024, required to be made after the balance sheet date were as follows: ​ ​ ​ ​ ​ Year ending June 30, Amount 2025 ​ $ 44,167 2026 ​ ​ 44,167 2027 ​ ​ 44,167 2028 ​ ​ 44,167 Thereafter ​ ​ 168,307 Total long-term debt and other financial liabilities ​ $ 344,975 ​ The weighted average interest rate on the Partnership’s long-term debt for the six-month periods ended June 30, 2024 and 2023 was 8.4% and 7.8%, respectively. Total interest incurred on long-term debt and other financial liabilities for the six-month periods ended June 30, 2024 and 2023, amounted to $17,590 and $18,610 respectively, and is included in Interest and finance costs (Note 10) in the accompanying unaudited interim condensed consolidated statements of comprehensive income.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Measurements
Fair Value Measurements	6. Fair Value Measurements: The following methods and assumptions were used to estimate the fair value of each class of financial instruments: ● Cash and cash equivalents, trade accounts receivable, amounts due from/to related parties and trade accounts payable: The carrying values reported in the accompanying condensed consolidated balance sheets for those financial instruments (except for the fair value of non-current portion of amounts due from related party) are considered Level 1 items as they represent liquid assets and liabilities with short-term maturities and are reasonable estimates of their fair values. The carrying value of these instruments is separately reflected in the accompanying condensed consolidated balance sheets. The fair value of the non-current portion of the amounts due from related parties, determined through Level 3 inputs of the fair value hierarchy by discounting future cash flows using the Partnership’s estimated co s t of capital, is $885 as of June 30, 2024, compared to its carrying value of $1,350 as of the same date. ● Long-term debt: The CDBL Sale and Leaseback discussed in Note 5 has an approximate recorded value due to the variable interest rate payable and is thus considered a Level 2 item in accordance with the fair value hierarchy as SOFR rates are observable at commonly quoted intervals for the full terms of the loans. ● Derivative financial instrument : The carrying values reported in the condensed consolidated balance sheets for the swap transaction are determined through Level 2 of the fair value hierarchy and are derived principally from interest rates, yield curves, and other items that allow value to be determined. ​ 6. Fair Value Measurements (continued): A fair value hierarchy that prioritizes the inputs used to measure fair value has been established by Generally Accepted Accounting Principles. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; ● Level 2: Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data; and ● Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the determination of the fair value of the assets or liabilities. The following table summarizes the hierarchy for determining and disclosing the fair value of assets and liabilities by valuation technique on a recurring basis as of the valuation date. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Significant Other ​ ​ Observable Inputs ​ ​ (Level 2) ​ ​ June 30, ​ December 31, Recurring measurements: 2024 2023 Interest rate swaps ​ $ 5,009 ​ $ 15,631 ​

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies
Commitments and Contingencies	7. Commitments and Contingencies: (a) Long-term leases: The Partnership employs its vessels under time charter contracts. Certain of its time charters provide for variable lease payments, escalating lease payments, charterers’ options to extend the lease terms, termination clauses, and charterers’ options to purchase the underlying assets. The Partnership, in order to calculate future minimum contracted lease payments, has assessed all the relevant factors that create an economic incentive for the lessee to be reasonably certain to exercise lease renewal, termination, or purchase options. As at June 30, 2024, two of the Partnership’s time charters contain escalating lease payments and two of its time charters contain both fixed lease and variable lease payments. The variable lease payments relate to services and executory costs (the “Opex Lease Element”). The Opex Lease Element is determined on a cost pass through basis on the vessel’s actual operating expenses for each applicable year. Under time charters, the vessels are employed for a specific period of time in accordance with the terms of each agreement. Normally, the charterer has the option to redeliver the vessel to the owner in a period that varies a few days more or less from the contractual termination date. For certain of its time charters, the Partnership has provided to its charterers, the option to extend the lease term for additional periods under the same or different terms. The options are exercised close to the original termination dates. ​ 7. Commitments and Contingencies (continued): Specifically, as at June 30, 2024 under two of the Partnership’s time charters, the charterer has the option to extend the original lease term by three consecutive periods of five years, the first to be declared at the original termination date and each of the remaining two to be declared at or close to the termination of each option period. Certain time charters are subject to the satisfaction of important conditions, which, if not satisfied, or waived by the charterer, may result in their cancellation or amendment and in such case the Partnership may not receive the contracted revenues thereunder. The Partnership assessed the respective termination clauses and concluded that the lease term is not affected. In addition, under certain time charters and, upon certain circumstances triggering a sanctions event, as defined therein, the charterers have the option to purchase the vessels unless the Partnership can remediate such event. The Partnership’s future minimum contracted lease payments to be collected (excluding variable lease payments) under its non-cancelable long-term time charter contracts, as of June 30, 2024, gross of brokerage commissions, without taking into consideration any assumed off-hire days (including those arising out of periodical class survey requirements), is as analyzed below: ​ ​ ​ ​ ​ Period/ Year ending December 31, Amount 2024 ​ 72,797 2025 ​ 141,818 2026 ​ 143,415 2027 and thereafter ​ 593,694 Total ​ $ 951,724 ​ (b) Legal Proceedings: Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Partnership’s vessels. The Partnership is covered in the event of any liabilities associated with an individual vessel’s actions up to the maximum limits as provided for by the Protection and Indemnity (P&I) Clubs, members of the International Group of P&I Clubs. Currently, management is not aware of any such claims not covered by insurance or contingent liabilities which should be disclosed (other than that referred below) or for which a provision should be established in the accompanying unaudited condensed consolidated financial statements. The Partnership accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is then able to reasonably estimate the probable exposure. ​ 7. Commitments and Contingencies (continued): (c) Technical and Commercial Management Agreement: As further disclosed in Note 3, the Partnership has contracted with Dynagas Ltd. for the provision of commercial, administrative, and technical management of its vessels pursuant to certain Management Agreement. a) For the commercial services provided under the Master Agreement, the Partnership pays a commission of 1.25% over the charter-hire revenues arranged by the Manager, which will survive the termination of the agreement until the termination of each charter party in force at such time. The estimated commission payable to the Manager over the minimum contractual charter revenues, discussed under (a) above, is $11,897 . b) Management fees for the period from July 1, 2024 to the date of the expiration of the agreements on December 31, 2030, adjusted for the 3% annual inflation in accordance with the terms of the Management Agreements, are estimated to amount to $47,183 .

Partners' Equity

Partners' Equity	6 Months Ended
	Jun. 30, 2024
Partners' Equity
Partners' Equity	8. Partners’ Equity: Series A Preferred Units: On July 20, 2015, the Partnership concluded an underwritten public offering of 3,000,000 9% Series A Preferred Units, representing limited partner interests in the Partnership, at a liquidation preference of $25.00 per unit. The Partnership received $72.3 million of proceeds from this offering, net of the $2.4 million underwriting discount of and incurred offering expenses of $0.3 million. Series B Preferred Units: On October 23, 2018, the Partnership concluded the underwritten public offering of 2,200,000 Series B Preferred Units, representing limited partner interests in the Partnership, at a liquidation preference of $25.00 per unit. The Partnership received net proceeds of $53.0 million from this offering, after deducting underwriters’ discounts and commissions and offering expenses, which amounted to $2.0 million. Concurrently with the conclusion of the Series B Preferred Units Public Offering, the Partnership entered into the Limited Partnership Agreement in order to, among others, conform its provisions to the terms and provisions related to the issuance of the Series B Preferred Units and to remove references to subordinated units and subordinated period that are no longer in effect. As of June 30, 2024, the Partnership had 36,802,247 common units, 15,595,000 of which are owned by the Sponsor, 3,000,000 Series A Preferred Units, 2,200,000 Series B Preferred Units and 35,526 general partner units issued and outstanding. Common and General Partner unit distribution provisions: The Partnership pays distributions in the following manner: ● first , 100% to the holders of common units and to the General Partner in accordance with their relative percentage interests, until the distributed amount in respect of each common unit equals the minimum quarterly distribution; and ● second , 100% to the holders of common units and to the General Partner in accordance with their relative percentage interests, until each unit has received an aggregate distribution of a specified dollar amount. ​ 8. Partners’ Equity (continued): The percentage allocations of available cash from operating surplus among the common unitholders, the General Partner, and the holders of the incentive distribution rights (“IDRs”) up to the various target distribution levels are illustrated below. The percentage interests shown for the common unitholders, the General Partner, and the holders of the incentive distribution rights for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests shown for our General Partner include its 0.1% General Partner interest only and assumes that our General Partner has contributed any capital necessary to maintain its 0.1% General Partner interest. Under the Limited Partnership Agreement, the holder of the incentive distribution rights in the Partnership, which is currently the General Partner, has the right to receive an increasing percentage of cash distributions after the first target distribution level. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Quarterly ​ ​ ​ ​ ​ Distribution Target ​ ​ ​ General ​ Holders ​ ​ Amount ​ Unitholders ​ Partner ​ of IDRs Minimum Quarterly Distribution ​ $0.365 99.9 % 0.1 % 0.0 % First Target Distribution ​ up to $0.420 99.9 % 0.1 % 0.0 % Second Target Distribution ​ above $0.420 up to $0.456 85.0 % 0.1 % 14.9 % Third Target Distribution ​ Above $0.456 up to $0.548 75.0 % 0.1 % 24.9 % Thereafter ​ above $0.548 50.0 % 0.1 % 49.9 % ​ On September 26, 2019, the Partnership announced that pursuant to the closing of the $675 Million Credit Facility (Note 5), the Partnership is prohibited from paying distribution to its common unitholders while borrowings are outstanding under the $675 Million Credit Facility. No such provision is included in the CDBL Sale and Leaseback agreements. Preferred Units distribution and redemption provisions: Distributions on the Series A Preferred Units are cumulative from the date of original issue and are payable quarterly on February 12, May 12, August 12 and November 12, of each year, when, as and if declared by the Partnership’s Board of Directors out of amounts legally available for such purpose. Distributions are payable at a distribution rate of 9.00% per annum of the stated liquidation preference. Any time on or after August 12, 2020, the Series A Preferred Units may be redeemed, in whole or in part, at the Partnership’s option, out of amounts legally available for such purpose, at a redemption price of $25.00 per unit plus an amount equal to all accumulated and unpaid distributions thereon to the date of redemption, whether or not declared. No Series A Preferred Units were redeemed as of June 30, 2024. Distributions on the Series B Preferred Units are cumulative from the date of original issue and are payable quarterly on February 22, May 22, August 22 and November 22, of each year, when, as and if declared by the Partnership’s Board of Directors out of amounts legally available for such purpose. Furthermore, distributions on the Series B Preferred Units are payable (i) from and including the original issue date to, but excluding, November 22, 2023 at a fixed rate equal to 8.75% per annum of the stated liquidation preference per unit and (ii) from and including November 22, 2023 at a floating rate equal to the Term Secured Overnight Financing Rate for the applicable three month tenor published by the Chicago Mercantile Exchange plus the Credit Adjusted Three-Month CME Term SOFR plus a spread of 5.593% per annum of the stated liquidation preference per unit. ​ 8. Partners’ Equity (continued): At any time on or after November 22, 2023, the Series B Preferred Units may be redeemed, in whole or in part, at the Partnership’s option, out of amounts available for such purpose, at a redemption price of $25.00 per unit plus an amount equal to all accumulated and unpaid distributions thereon to the date of redemption, whether or not declared. The Series A Preferred Units and the Series B Preferred Units represent perpetual equity interests in the Partnership, unlike the Partnership’s indebtedness, do not give rise to a claim for payment of a principal amount at a particular date. The Series A Preferred Units rank pari passu with the Series B Preferred Units. Both the Series A Preferred Units and the Senior B Preferred Units rank senior to the Partnership’s common units and to each other class or series of limited partner interests or other equity established after the original issue date of the Series A Preferred Units and the Series B Preferred Units that is not expressly made senior to or on a parity with the Series A Preferred Units and the Series B Preferred Units as to payment of distributions. The Series A Preferred Units and the Series B Preferred Units are rank junior to all of the Partnership’s existing and future indebtedness. The interests of the holders of Series A Preferred Units or Series B Preferred Units could be diluted by the issuance of additional preferred units, including additional Series A Preferred units or Series B Preferred Units, and by other transactions. Common unit distributions: No quarterly cash distributions to Common unitholders were made with respect to the six-month period ended June 30, 2024 and 2023. Series A Preferred unit distributions: On January 19, 2024, the Partnership’s Board of Directors declared a cash distribution of $0.5625 per unit on its Series A Preferred Units for the period from November 12, 2023 to February 11, 2024. The cash distribution was paid on February 12, 2024, to all Series A preferred unitholders of record as of February 5, 2024. On April 19, 2024, the Partnership’s Board of Directors declared a cash distribution of $0.5625 per unit on its Series A Preferred Units for the period from February 12, 2024 to May 11, 2024. The cash distribution was paid on May 13, 2024, to all Series A preferred unitholders of record as of May 6, 2024. Series B Preferred unit distributions: On January 31, 2024, the Partnership’s Board of Directors declared a cash distribution of $0.71764025 per unit on its Series B Preferred Units for the period from November 22, 2023 to February 21, 2024. The cash distribution was paid on February 22, 2024, to all Series B preferred unitholders of record as of February 14, 2024. On April 29, 2024, the Partnership’s Board of Directors declared a cash distribution of $0.698533750 per unit on its Series B Preferred Units for the period from February 22, 2024 to May 21, 2024. The cash distribution was paid on May 22, 2024, to all Series B preferred unitholders of record as of May 15, 2024. General Partner Distributions: During the six-month periods ended June 30, 2024 and 2023, no payments were made by the Partnership to its General Partner as a holder of the incentive distribution rights.

Earnings per Unit

Earnings per Unit	6 Months Ended
	Jun. 30, 2024
Earnings per Unit
Earnings per Unit	9. Earnings per Unit: The Partnership calculates earnings/ (losses) per unit by allocating distributed and undistributed net income/ (losses) for each period to common and general partner units, after adjusting for the effect of preferred distributions, only to the extent that they are earned. Any undistributed earnings for the period are allocated to the various unitholders based on the distribution waterfall for cash available for distribution specified in the Limited Partnership Agreement, as generally described in Note 8 above. Where distributions relating to the period are in excess of earnings, the deficit is also allocated according to the cash distribution model. The sum of the distributed amounts and the allocation of the undistributed earnings or deficit to each class of unitholders is divided by the weighted average number of units outstanding during the period. Diluted earnings per unit, if applicable, reflects the potential dilution that could occur if potentially dilutive instruments were exercised, resulting in the issuance of additional units that would then share in the Partnership’s net earnings. The Partnership had no dilutive instruments in the six-month periods ended June 30, 2024 and 2023. The calculations of the basic and diluted earnings per common unit are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ June 30, ​ ​ 2024 ​ 2023 Partnership’s Net income $ 22,458 $ 24,030 Less: ​ ​ ​ ​ Net Income attributable to preferred unitholders ​ 6,491 ​ 5,781 General Partner’s interest in Net Income ​ 16 ​ 19 Net income attributable to common unitholders ​ $ 15,951 ​ $ 18,230 Weighted average number of common units outstanding, basic and diluted ​ 36,802,247 ​ 36,802,247 Earnings per common unit, basic and diluted ​ $ 0.43 ​ $ 0.50 ​

Interest and Finance Costs

Interest and Finance Costs	6 Months Ended
	Jun. 30, 2024
Interest and Finance Costs
Interest and Finance Costs	10. Interest and Finance Costs: The amounts in the unaudited interim condensed consolidated statements of comprehensive income are analyzed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ June 30, ​ ​ 2024 ​ 2023 Interest expense (Note 5) $ 17,590 $ 18,610 Amortization of deferred financing fees ​ 734 ​ 862 Other ​ 77 ​ 77 Total ​ $ 18,401 ​ $ 19,549 ​

Derivative financial instrument

Derivative financial instruments	6 Months Ended
	Jun. 30, 2024
Derivative financial instruments
Derivative financial instruments	11. Derivative financial instruments: On May 7, 2020, the Partnership entered into a floating to fixed interest rate swap transaction with a leading international bank, for the purpose of managing its exposure to LIBOR variability that the Partnership had under the $675 Million Credit Facility. The swap transaction, which was effective from June 29, 2020, provided for a fixed 3-month LIBOR rate of 0.41% based on notional values that reflect the amortization schedule of 100% of the Partnership’s debt outstanding under its $675 Million Credit Facility, until the $675 Million Credit Facility matures in September 2024. The swap agreement did not meet hedge accounting criteria and, therefore, changes in its fair value are reflected in earnings. On June 21, 2023 the Partnership signed an agreement with its counterparty for the replacement of the abovementioned fixed 3-month LIBOR rate with the fixed 3-month SOFR rate due to the discontinuation of the LIBOR. As of June 30, 2024 and December 31, 2023, the outstanding notional amount of Partnership’s interest rate swap was $447.0 million and $471.0 million, respectively. The fair value of this interest rate swap outstanding at June 30, 2024 and December 31, 2023 amounted to an asset of $5,009 and $15,631 respectively (Note 6), and is included in Derivative financial instruments in the unaudited condensed consolidated balance sheets as presented in the table below. For the six month period ended as of June 30, 2024 and 2023, the Partnership recognized a net gain on derivative financial instruments of $1.7 million and $5.0 million, respectively, which is included in Gain on derivative financial instruments, net in the accompanying unaudited interim condensed consolidated statements of comprehensive income as presented in the table below. The realized gain on non-hedging interest rate swaps included in “Gain on derivative financial instruments, net” amounted to $12.2 million and $11.7 million, for the six-month periods ended June 30, 2024 and 2023, respectively. Tabular Disclosure of Derivatives Location Derivatives are recorded in the balance sheet on a net basis by counterparty when a legal right of setoff exists. The following tables present information with respect to the fair values of the derivative instrument reflected in the balance sheet on a gross basis by transaction. The tables also present information with respect to gains/ (losses) on derivative positions reflected in the unaudited interim condensed consolidated Statement of Comprehensive Income. ​ 11. Derivative financial instruments (continued): Derivative Instruments not designated as hedging instruments – Balance Sheet Location ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ June 30, ​ December 31, Derivative ​ Balance Sheet Location ​ 2024 ​ 2023 Interest rate swap Derivative financial Instruments, Current ​ 5,009 ​ 15,631 ​ Total ​ $ 5,009 ​ $ 15,631 ​ Derivatives Instruments not designated as Hedging Instruments – Net effect on the Condensed Consolidated Statements of Comprehensive Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, ​ Net Realized and Unrealized Gain Recognized on Statement of Comprehensive Income Location 2024 2023 Interest rate swap Gain on derivative instruments, net ​ 1,668 ​ 5,023 Total ​ $ 1,668 ​ $ 5,023 ​

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events
Subsequent Events	12. Subsequent Events: (a) Quarterly Series A Preferred unit cash distribution (b) Quarterly Series B Preferred unit cash distribution: (c) Change of name of Arctic LNG Carriers Ltd.: (d) Change of name of Fareastern Shipping Limited:

Significant Accounting Polici_2

Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2024
Significant Accounting Policies and Recent Accounting Pronouncements
Sale and Leaseback Transactions	Sale and Leaseback Transactions In accordance with ASC 842, the Partnership, as seller-lessee, determines whether the transfer of an asset should be accounted for as a sale in accordance with ASC 606. The existence of an option for the seller-lessee to repurchase the asset precludes the accounting for the transfer of the asset as a sale unless both of the following criteria are met: (1) the exercise price of the option is the fair value of the asset at the time the option is exercised and (2) there are alternative assets, substantially the same as the transferred asset, readily available in the marketplace; and the classification of the leaseback as a finance lease or a sales-type lease, precludes the buyer-lessor from obtaining control of the asset. If the transfer of the asset meets the criteria of sale, the Company, as seller-lessee recognizes the transaction price for the sale when the buyer-lessor obtains control of the asset, derecognizes the carrying amount of the underlying asset and accounts for the lease in accordance with ASC 842. If the transfer does not meet the criteria of sale, the Partnership does not derecognize the transferred asset, accounts for any amounts received as a financing arrangement and recognizes the difference between the amount of consideration received and the amount of consideration to be paid as interest.

Basis of Presentation and Gen_2

Basis of Presentation and General Information (Tables)	6 Months Ended
	Jun. 30, 2024
Basis of Presentation and General Information
Schedule of vessel owning subsidiaries	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Country of incorporation/ ​ Delivery date from ​ Company Name ​ formation ​ Vessel Name ​ shipyard ​ Delivery date to Partnership ​ Cbm Capacity Pegasus Shipholding S.A. (“Pegasus”) Marshall Islands Clean Energy March 2007 October 2013 149,700 Lance Shipping S.A. (“Lance”) Marshall Islands Ob River July 2007 October 2013 149,700 Seacrown Maritime Ltd. (“Seacrown”) Marshall Islands Amur River January 2008 October 2013 149,700 Fareastern Shipping Limited (“Fareastern”) Malta Arctic Aurora July 2013 June 2014 155,000 Navajo Marine Limited (“Navajo”) Marshall Islands Yenisei River July 2013 September 2014 155,000 Solana Holding Ltd. (“Solana”) Marshall Islands Lena River October 2013 December 2015 155,000
Schedule of non-vessel owning subsidiaries	​ Company Name Country of incorporation/formation Purpose of incorporation Dynagas Equity Holding Limited ​ Marshall Islands ​ Holding company that owns all of the outstanding share capital of Arctic LNG Carriers Ltd. (“Arctic LNG”). Dynagas Operating GP LLC ​ Marshall Islands ​ Limited Liability Company in which the Partnership holds a 100% membership interest and which has 100% of the Non-Economic General Partner Interest in Dynagas Operating LP. Dynagas Operating LP ​ Marshall Islands ​ Limited partnership in which the Partnership holds a 100% limited partnership interest and which owns 100% of the issued and outstanding share capital of Dynagas Equity. Dynagas Finance Inc. ​ Marshall Islands ​ Wholly owned subsidiary of the Partnership whose activities were limited to the co-issuance of the 2019 Notes, discussed under our Annual Report on Form 20-F for the year ended December 31, 2022, which was filed with the SEC, on April 21, 2023 and engaging in other activities incidental thereto. Arctic LNG Carriers Ltd. ​ Marshall Islands ​ Wholly owned subsidiary of the Partnership which is directly wholly owned by Dynagas Equity and which owns all of the issued and outstanding share capital of Pegasus, Lance, Seacrown, Fareastern, Navajo, Solana and Dynagas Finance LLC. Dynagas Finance LLC ​ Delaware ​ Wholly owned subsidiary of Arctic LNG and co-borrower of the Partnership’s Term Loan discussed under Note 5.
Schedule of partnership's revenues	​ ​ ​ ​ ​ ​ ​ Charterer 2024 2023 A 39 % 45 % B 34 % 39 % C 27 % 16 % Total 100 % 100 %

Transactions with related par_2

Transactions with related parties (Tables)	6 Months Ended
	Jun. 30, 2024
Transactions with related parties
Schedule of transactions with related parties - condensed consolidated statements of comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ June 30 ​ ​ 2024 ​ 2023 Included in voyage expenses (including related party) ​ ​ ​ ​ Charter hire commissions (a) ​ $ 987 $ 811 Included in general and administrative expenses (including related party) ​ Executive services fee (c) ​ $ 291 $ 291 Administrative services fee (d) ​ $ 60 $ 60 Management fees-related party ​ Management fees (a) ​ $ 3,281 $ 3,168
Schedule of transactions with related parties - balance sheet	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 Assets: ​ ​ ​ ​ Working capital due from Manager (a) ​ $ 927 $ — Total assets due from related party, current ​ $ 927 $ — ​ ​ ​ ​ ​ ​ ​ Security deposits to Manager (a) ​ $ 1,350 ​ $ 1,350 Total assets due from related party, non-current ​ $ 1,350 ​ $ 1,350 ​ ​ ​ ​ ​ ​ ​ Liabilities included in Due to related party: ​ Working capital due to Manager (a) ​ $ — ​ $ 615 Executive service charges due to Manager (c) ​ $ 145 $ 143 Administrative service charges due to Manager (e) ​ $ 30 $ 30 Other Partnership expenses due to Manager (a) ​ $ 254 $ 767 Total liabilities due to related party, current ​ $ 429 $ 1,555

Vessels, net (Tables)

Vessels, net (Tables)	6 Months Ended
	Jun. 30, 2024
Vessels, net.
Schedule of condensed consolidated balance sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vessel Accumulated Net Book ​ ​ Cost ​ Depreciation ​ Value Balance December 31, 2023 ​ $ 1,175,834 ​ $ (378,471) ​ $ 797,363 Depreciation ​ — ​ (15,988) ​ (15,988) Balance June 30, 2024 ​ $ 1,175,834 ​ $ (394,459) ​ $ 781,375 ​

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Long-Term Debt.
Schedule of amounts shown in the condensed consolidated balance sheets are analyzed	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, Debt instruments 2024 2023 Long-term debt and other financial liabilities ​ ​ 344,975 ​ ​ 420,642 Total ​ $ 344,975 $ 420,642 Less deferred financing fees ​ (2,462) (1,058) Total debt, net of deferred finance costs ​ $ 342,513 $ 419,584 Less current portion, net of deferred financing fees ​ $ (43,612) $ (419,584) Long-term debt and other financial liabilities, net of current portion and deferred financing fees ​ $ 298,901 $ —
Schedule of annual principal payments	​ ​ ​ ​ ​ Year ending June 30, Amount 2025 ​ $ 44,167 2026 ​ ​ 44,167 2027 ​ ​ 44,167 2028 ​ ​ 44,167 Thereafter ​ ​ 168,307 Total long-term debt and other financial liabilities ​ $ 344,975

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Measurements
Schedule of fair value of assets and liabilities by valuation technique on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Significant Other ​ ​ Observable Inputs ​ ​ (Level 2) ​ ​ June 30, ​ December 31, Recurring measurements: 2024 2023 Interest rate swaps ​ $ 5,009 ​ $ 15,631 ​

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies
Schedule of the Partnership's future minimum contracted lease payments	​ ​ ​ ​ ​ Period/ Year ending December 31, Amount 2024 ​ 72,797 2025 ​ 141,818 2026 ​ 143,415 2027 and thereafter ​ 593,694 Total ​ $ 951,724

Partners' Equity (Tables)

Partners' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Partners' Equity
Schedule of partners' equity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Quarterly ​ ​ ​ ​ ​ Distribution Target ​ ​ ​ General ​ Holders ​ ​ Amount ​ Unitholders ​ Partner ​ of IDRs Minimum Quarterly Distribution ​ $0.365 99.9 % 0.1 % 0.0 % First Target Distribution ​ up to $0.420 99.9 % 0.1 % 0.0 % Second Target Distribution ​ above $0.420 up to $0.456 85.0 % 0.1 % 14.9 % Third Target Distribution ​ Above $0.456 up to $0.548 75.0 % 0.1 % 24.9 % Thereafter ​ above $0.548 50.0 % 0.1 % 49.9 %

Earnings per Unit (Tables)

Earnings per Unit (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings per Unit
Schedule of calculations of the basic and diluted earnings per common unit	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ June 30, ​ ​ 2024 ​ 2023 Partnership’s Net income $ 22,458 $ 24,030 Less: ​ ​ ​ ​ Net Income attributable to preferred unitholders ​ 6,491 ​ 5,781 General Partner’s interest in Net Income ​ 16 ​ 19 Net income attributable to common unitholders ​ $ 15,951 ​ $ 18,230 Weighted average number of common units outstanding, basic and diluted ​ 36,802,247 ​ 36,802,247 Earnings per common unit, basic and diluted ​ $ 0.43 ​ $ 0.50 ​

Interest and Finance Costs (Tab

Interest and Finance Costs (Tables)	6 Months Ended
	Jun. 30, 2024
Interest and Finance Costs
Schedule of unaudited interim condensed consolidated statements of comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ June 30, ​ ​ 2024 ​ 2023 Interest expense (Note 5) $ 17,590 $ 18,610 Amortization of deferred financing fees ​ 734 ​ 862 Other ​ 77 ​ 77 Total ​ $ 18,401 ​ $ 19,549 ​

Derivative financial instrume_2

Derivative financial instrument (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative financial instruments
Schedule of Derivative Instruments not designated as hedging instruments - Balance Sheet Location	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ June 30, ​ December 31, Derivative ​ Balance Sheet Location ​ 2024 ​ 2023 Interest rate swap Derivative financial Instruments, Current ​ 5,009 ​ 15,631 ​ Total ​ $ 5,009 ​ $ 15,631
Schedule of Derivatives Instruments not designated as Hedging Instruments - Net effect on the Condensed Consolidated Statements of Comprehensive Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, ​ Net Realized and Unrealized Gain Recognized on Statement of Comprehensive Income Location 2024 2023 Interest rate swap Gain on derivative instruments, net ​ 1,668 ​ 5,023 Total ​ $ 1,668 ​ $ 5,023 ​

Basis of Presentation and Gen_3

Basis of Presentation and General Information - Vessel Owning Subsidiaries (Details)	6 Months Ended
	Jun. 30, 2024 m³
Pegasus Shipholding S.A.
Basis of Presentation and General Information
Country of incorporation/ formation	Marshall Islands
Vessel Name	Clean Energy
Delivery date from shipyard	March 2007
Delivery date to Partnership	October 2013
Cbm Capacity	149,700
Lance shipping S.A.
Basis of Presentation and General Information
Country of incorporation/ formation	Marshall Islands
Vessel Name	Ob River
Delivery date from shipyard	July 2007
Delivery date to Partnership	October 2013
Cbm Capacity	149,700
Seacrown Maritime Ltd
Basis of Presentation and General Information
Country of incorporation/ formation	Marshall Islands
Vessel Name	Amur River
Delivery date from shipyard	January 2008
Delivery date to Partnership	October 2013
Cbm Capacity	149,700
Fareastern Shipping Limited
Basis of Presentation and General Information
Country of incorporation/ formation	Malta
Vessel Name	Arctic Aurora
Delivery date from shipyard	July 2013
Delivery date to Partnership	June 2014
Cbm Capacity	155,000
Navajo Marine Limited
Basis of Presentation and General Information
Country of incorporation/ formation	Marshall Islands
Vessel Name	Yenisei River
Delivery date from shipyard	July 2013
Delivery date to Partnership	September 2014
Cbm Capacity	155,000
Solana Holding Ltd.
Basis of Presentation and General Information
Country of incorporation/ formation	Marshall Islands
Vessel Name	Lena River
Delivery date from shipyard	October 2013
Delivery date to Partnership	December 2015
Cbm Capacity	155,000

Basis of Presentation and Gen_4

Basis of Presentation and General Information - Non-Vessel Owning Subsidiaries (Details)	6 Months Ended
	Jun. 30, 2024
Dynagas Operating LP
Basis of Presentation and General Information
Ownership interest in subsidiary	100%

Basis of Presentation and Gen_5

Basis of Presentation and General Information - Major Charterers (Details)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Basis of Presentation and General Information
Percentage of time charter revenue	100%	100%
Charterer A
Basis of Presentation and General Information
Percentage of time charter revenue	39%	45%
Charterer B
Basis of Presentation and General Information
Percentage of time charter revenue	34%	39%
Charterer C
Basis of Presentation and General Information
Percentage of time charter revenue	27%	16%

Basis of Presentation and Gen_6

Basis of Presentation and General Information - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
	Nov. 18, 2013	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Basis of Presentation and General Information
Entity incorporation, date of incorporation		May 30, 2013
Percentage of partnership earned revenue		34%	39%
Cash and cash equivalents		$ 35,565		$ 73,752
Working capital deficit		$ 21,100
Percentage of time charter revenue		100%	100%
Provision for doubtful accounts		$ 0		0
Allowance on insurance claims		0		0
Trade accounts receivable		$ 491		$ 709
Dynagas Operating GP LLC
Basis of Presentation and General Information
General partner interest in dynagas LNG partners LP		100%
Dynagas Holding Ltd
Basis of Presentation and General Information
Ownership percentage		42.40%
Dynagas Operating GP LLC
Basis of Presentation and General Information
Ownership percentage		100%
Dynagas Operating LP
Basis of Presentation and General Information
Ownership percentage		100%
Revenue Benchmark
Basis of Presentation and General Information
Percentage of time charter revenue		10%
$30 million sponsor facility | Dynagas Holding Ltd
Basis of Presentation and General Information
Line of credit facility expiration date		November 2023
Revolving credit facility borrowing capacity	$ 30,000
General Partner | Dynagas Holding Ltd
Basis of Presentation and General Information
General partner interest in dynagas LNG partners LP		0.10%
IPO
Basis of Presentation and General Information
Date of initial public offering (IPO)		November 18, 2013
Issuance of units in public offering	8,250,000
Shares issued, price per share	$ 18
IPO | Dynagas Holding Ltd
Basis of Presentation and General Information
Issuance of units in public offering	4,250,000
Shares issued, price per share	$ 18

Transactions with related par_3

Transactions with related parties - Statements of comprehensive Income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Transactions with related parties
Charter hire commissions	$ 987	$ 811
Executive services fee	291	291
Administrative services fee	60	60
Management fees	$ 3,281	$ 3,168

Transactions with related par_4

Transactions with related parties - Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Related party transaction
Total assets due from related party, current	$ 927
Total assets due from related party, non-current	1,350	$ 1,350
Total liabilities due to related party, current	429	1,555
Security deposits to Manager
Related party transaction
Total assets due from related party, non-current	1,350	1,350
Working capital due to Manager
Related party transaction
Total assets due from related party, current	927
Total liabilities due to related party, current		615
Executive service charges due to Manager
Related party transaction
Total liabilities due to related party, current	145	143
Administrative service charges due to Manager
Related party transaction
Total liabilities due to related party, current	30	30
Other Partnership expenses due to Manager
Related party transaction
Total liabilities due to related party, current	$ 254	$ 767

Transactions with related par_5

Transactions with related parties (Details) € in Thousands						6 Months Ended			12 Months Ended
	Jan. 01, 2021 USD ($)	Nov. 18, 2018	Nov. 14, 2018 USD ($)	Mar. 21, 2014	Nov. 18, 2013 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 30, 2014 USD ($)
Related party transaction
Administrative services fee						$ 60,000		$ 60,000
Management fees-related party						3,281,000		3,168,000
Charter hire commissions						987,000		811,000
Due from related party						1,350,000			$ 1,350,000
Due to related party						429,000			1,555,000
Due from related party, current						927,000
Due to related Parties, current						429,000			1,555,000
Annual executive services fee						$ 291,000
Foreign currency exchange rate						1.0835
Dynagas Holding Ltd
Related party transaction
Technical management fee						$ 3,000		2,900
Security deposits to Manager
Related party transaction
Due from related party						$ 1,350,000			1,350,000
Master Agreement
Related party transaction
Technical management fee	$ 2,750,000
Management fees annual upward percentage adjustment						3%	3%
Administrative services days termination notice						6 months	6 months
Related party transaction, terms and manner of settlement						5%	5%
Management fees-related party						$ 3,281,000		3,168,000
Charter hire commission payable to the management company						1.25%	1.25%
Charter hire commissions						$ 987,000		811,000
Due from related party						1,350,000			1,350,000
Dynagas Ltd | Working capital advances
Related party transaction
Due from related party, current						927,000
Due to related Parties, current									615,000
$30 million sponsor facility | Dynagas Holding Ltd
Related party transaction
Revolving credit facility borrowing capacity					$ 30,000,000
Debt instrument term					5 years
Amount drawn						0			$ 0
$30 million extended sponsor facility
Related party transaction
Debt instrument term			5 years
$30 million extended sponsor facility | Dynagas Holding Ltd
Related party transaction
Revolving credit facility borrowing capacity			$ 30,000,000
Executive services agreement
Related party transaction
Annual executive services fee						$ 583,000	€ 538
Executive services agreement initial term
Related party transaction
Executive services agreement duration period				5 years
Executive services agreement automatic renewal
Related party transaction
Executive services agreement duration period		5 years
Administrative services agreement
Related party transaction
Administrative services days termination notice						120 days	120 days
Administrative services fee						$ 60,000		$ 60,000
Administrative services agreement | Security deposits to Manager | Monthly fee
Related party transaction
Due to related party										$ 10,000

Vessels, net - Consolidated con

Vessels, net - Consolidated condensed balance sheets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Property, plant and equipment
Balance beginning of period	$ 797,363
Depreciation	(15,988)	$ (15,816)
Balance end of period	781,375
Vessel Cost
Property, plant and equipment
Balance beginning of period	1,175,834
Balance end of period	1,175,834
Accumulated Depreciation
Property, plant and equipment
Balance beginning of period	(378,471)
Depreciation	(15,988)
Balance end of period	(394,459)
Net Book Value
Property, plant and equipment
Balance beginning of period	797,363
Depreciation	(15,988)
Balance end of period	$ 781,375

Long-Term Debt - Credit Facilit

Long-Term Debt - Credit Facilities And Senior Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Long-Term Debt.
Total debt	$ 344,975	$ 420,642
Less deferred financing fees	(2,462)	(1,058)
Total debt, net of deferred finance costs	342,513	419,584
Less current portion, net of deferred financing fees	(43,612)	$ (419,584)
Long-term debt and other financial liabilities, net of current portion and deferred financing fees	$ 298,901

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($)				6 Months Ended		7 Months Ended
	Oct. 30, 2019	Sep. 26, 2019	Sep. 25, 2019	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2022	Mar. 27, 2023	Oct. 12, 2022	Sep. 18, 2019
Long-Term Debt
(Gain)/ Loss on debt extinguishment				$ 331,000	$ 154,000
Weighted average interest rate				8.40%	7.80%
Interest incurred				$ 17,590,000	$ 18,610,000
$250 Million Senior Unsecured Notes due 2019 (2019 Notes)
Long-Term Debt
Amount used to repay	$ 204,600,000
$675 million senior secured term loan facility ($675 Million Credit Facility)
Long-Term Debt
Line of credit facility, initiation date				Sep. 18, 2019
Debt instrument face value									$ 675,000,000
Amount drawn		$ 675,000,000	$ 675,000,000
Line of credit facility, prepayment date				October 12, 2022
$480 Million Senior Secured Term Loan Facility
Long-Term Debt
Debt repaid			$ 470,400,000
Supplemental Agreement to the $675 Million Credit Facility
Long-Term Debt
Line of credit facility, initiation date				Oct. 11, 2022
Voluntary prepayment								$ 18,730,000
(Gain)/ Loss on debt extinguishment				$ 2,072,000
Principal amount waived				2,195,000
Write-off of deferred financing fees				$ 123,000
Principal and interest repayments						$ 1,789,000
Lenders of $675 Million credit facility
Long-Term Debt
Line of credit facility, initiation date				Mar. 27, 2023
Line of credit facility, prepayment date				March 27, 2023
Voluntary prepayment				$ 31,300,000			$ 31,300,000
(Gain)/ Loss on debt extinguishment				154,000
Write-off of deferred financing fees				$ 154,000

Long-Term Debt - Other Financia

Long-Term Debt - Other Financial Liabilities - Sale and Leaseback Transactions (Details) $ in Thousands	Jun. 19, 2024 USD ($) item installment	Jun. 30, 2024 USD ($)	Jun. 27, 2024 USD ($)
$675 Million Credit Facility
Long-Term Debt
Face amount of debt			$ 675,000
Sale leaseback transaction with China Development Bank Financial Leasing Co
Long-Term Debt
Lease financing own funds			$ 63,667
Value maintenance ratio as percentage of charter hire principal	120%
OB River
Long-Term Debt
Number of vessels | item	4
Sale and leaseback amount	$ 71,175	$ 344,975
Term of sale and leaseback	5 years
Repurchase of vessel as percentage of financing amount	20%
Number of consecutive quarterly installments paid in arrears for amortization of charter hire principal | installment	20
the Clean Energy
Long-Term Debt
Number of vessels | item	4
Sale and leaseback amount	$ 53,625
Term of sale and leaseback	5 years
Repurchase of vessel as percentage of financing amount	20%
Number of consecutive quarterly installments paid in arrears for amortization of charter hire principal | installment	20
the Amur River
Long-Term Debt
Number of vessels | item	4
Sale and leaseback amount	$ 73,125
Term of sale and leaseback	5 years
Repurchase of vessel as percentage of financing amount	20%
Number of consecutive quarterly installments paid in arrears for amortization of charter hire principal | installment	20
the Arctic Aurora
Long-Term Debt
Number of vessels | item	4
Sale and leaseback amount	$ 147,050
Term of sale and leaseback	10 years
Repurchase of vessel as percentage of financing amount	15%
Number of consecutive quarterly installments paid in arrears for amortization of charter hire principal | installment	40

Long-Term Debt - Principal Paym

Long-Term Debt - Principal Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Long-Term Debt.
2025	$ 44,167
2026	44,167
2027	44,167
2028	44,167
Thereafter	168,307
Total long-term debt	$ 344,975	$ 420,642

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Recurring | Level 2 | Interest rate swaps
Fair value measurements
Fair value measured	$ 5,009	$ 15,631

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Measurements
Due from related parties non current fair value - determined through level 3 inputs	$ 885
Due from related party	$ 1,350	$ 1,350

Commitments and Contingencies -

Commitments and Contingencies - Contracted lease payments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Commitments and Contingencies
2024	$ 72,797
2025	141,818
2026	143,415
2027 and thereafter	593,694
Total	$ 951,724

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Master Agreement
Commitments and Contingencies
Charter hire commission payable to the management company	1.25%
Commission payable over the minimum contractual charter revenues	$ 11,897
Inflation rate adjustment to management fees	3%
Management fees	$ 47,183
Two Time Charter
Commitments and Contingencies
Lessor operating lease nature of lease payments	escalating
Renewal term of time charter contract	three consecutive periods of five years
Another Two Time Charters
Commitments and Contingencies
Lessor operating lease nature of lease payments	time charters contain both fixed lease and variable lease payments

Partners' Equity (Details)

Partners' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands			6 Months Ended
	Oct. 23, 2018	Jul. 20, 2015	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Partners' Equity:
Common unitholders - units issued			36,802,247		36,802,247
Common unitholders - units outstanding			36,802,247		36,802,247
General partner issued			35,526		35,526
General partner outstanding			35,526		35,526
Cash distributions to Common unitholders			$ 0	$ 0
General Partner [Member]
Partners' Equity:
Payments to general partner			$ 0	$ 0
Minimum Quarterly Distribution | Total Quarterly Distribution Target Amount
Partners' Equity:
Distribution per unit			$ 0.365
Sponsor [Member]
Partners' Equity:
Common unitholders - units issued			15,595,000
Series A Preferred Stock [Member]
Partners' Equity:
Issuance of units in public offering		3,000,000
Liquidation preference		$ 25
Proceeds from the offering		$ 72,300
Underwriting discount		2,400
Offering expenses		$ 300
Preferred units, issued			3,000,000		3,000,000
Preferred units, outstanding			3,000,000		3,000,000
Fixed payment rate per annum		9%	9%
Preferred units redeemed			0
Redemption price			$ 25
Series A Preferred Stock [Member] | Distribution From November 12, 2023, to February 11, 2024
Partners' Equity:
Distribution made to limited partner, distributions paid per unit			$ 0.5625
Distribution Made To Limited Partner And General Partner Announcement Date			Jan. 19, 2024
Distribution Made To Limited And General Partner Distribution Date			Feb. 12, 2024
Distribution Made To Limited And General Partner Date Record			Feb. 05, 2024
Series A Preferred Stock [Member] | Distribution From February 12, 2024, to May 11, 2024
Partners' Equity:
Distribution made to limited partner, distributions paid per unit			$ 0.5625
Distribution Made To Limited Partner And General Partner Announcement Date			Apr. 19, 2024
Distribution Made To Limited And General Partner Distribution Date			May 13, 2024
Distribution Made To Limited And General Partner Date Record			May 06, 2024
Series B Preferred Stock [Member]
Partners' Equity:
Issuance of units in public offering	2,200,000
Liquidation preference	$ 25
Proceeds from the offering	$ 53,000
Offering expenses	$ 2,000
Preferred units, issued			2,200,000		2,200,000
Preferred units, outstanding			2,200,000		2,200,000
Series B Preferred Stock [Member] | From November 2023
Partners' Equity:
Preferred Stock Dividend Basis Spread On Variable Rate			5.593%
Series B Preferred Stock [Member] | Any Time On Or After November 2023 [Member]
Partners' Equity:
Redemption price			$ 25
Series B Preferred Stock [Member] | Distribution From November 22, 2023, to February 21, 2024
Partners' Equity:
Distribution made to limited partner, distributions paid per unit			$ 0.71764025
Distribution Made To Limited Partner And General Partner Announcement Date			Jan. 31, 2024
Distribution Made To Limited And General Partner Distribution Date			Feb. 22, 2024
Distribution Made To Limited And General Partner Date Record			Feb. 14, 2024
Series B Preferred Stock [Member] | Distribution From February 22, 2024, to May 21, 2024
Partners' Equity:
Distribution made to limited partner, distributions paid per unit			$ 0.698533750
Distribution Made To Limited Partner And General Partner Announcement Date			Apr. 29, 2024
Distribution Made To Limited And General Partner Distribution Date			May 22, 2024
Distribution Made To Limited And General Partner Date Record			May 15, 2024
Series B Preferred Stock [Member] | Distribution From And Issue Date To But Excluding November 2023
Partners' Equity:
Fixed payment rate per annum			8.75%

Partners' Equity - Increasing p

Partners' Equity - Increasing percentage of cash distributions (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares
Total Quarterly Distribution Target Amount | Minimum Quarterly Distribution
Partners' Equity:
Distribution target amount per unit	$ 0.365
Total Quarterly Distribution Target Amount | First Target Distribution | Maximum
Partners' Equity:
Distribution target amount per unit	0.420
Total Quarterly Distribution Target Amount | Second Target Distribution | Minimum
Partners' Equity:
Distribution target amount per unit	0.420
Total Quarterly Distribution Target Amount | Second Target Distribution | Maximum
Partners' Equity:
Distribution target amount per unit	0.456
Total Quarterly Distribution Target Amount | Third Target Distribution | Minimum
Partners' Equity:
Distribution target amount per unit	0.456
Total Quarterly Distribution Target Amount | Third Target Distribution | Maximum
Partners' Equity:
Distribution target amount per unit	0.548
Total Quarterly Distribution Target Amount | Thereafter Target Distribution | Minimum
Partners' Equity:
Distribution target amount per unit	$ 0.548
Unitholders | Minimum Quarterly Distribution
Partners' Equity:
Percentage allocations of the additional available cash	99.90%
Unitholders | First Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	99.90%
Unitholders | Second Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	85%
Unitholders | Third Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	75%
Unitholders | Thereafter Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	50%
General Partner [Member] | Minimum
Partners' Equity:
Percentage allocations of the additional available cash	0.10%
General Partner [Member] | Minimum Quarterly Distribution
Partners' Equity:
Percentage allocations of the additional available cash	0.10%
General Partner [Member] | First Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	0.10%
General Partner [Member] | Second Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	0.10%
General Partner [Member] | Third Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	0.10%
General Partner [Member] | Thereafter Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	0.10%
Holders of IDRs | Minimum Quarterly Distribution
Partners' Equity:
Percentage allocations of the additional available cash	0%
Holders of IDRs | First Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	0%
Holders of IDRs | Second Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	14.90%
Holders of IDRs | Third Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	24.90%
Holders of IDRs | Thereafter Target Distribution
Partners' Equity:
Percentage allocations of the additional available cash	49.90%

Earnings per Unit (Details)

Earnings per Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings per Unit
Partnership's Net income	$ 22,458	$ 24,030
Less:
Net Income attributable to preferred unitholders	6,491	5,781
General Partner's interest in Net Income	16	19
Net income attributable to common unitholders	$ 15,951	$ 18,230
Weighted average number of common units outstanding, basic	36,802,247	36,802,247
Weighted average number of common units outstanding, diluted	36,802,247	36,802,247
Earnings per common unit, basic	$ 0.43	$ 0.50
Earnings per common unit, diluted	$ 0.43	$ 0.50

Interest and Finance Costs (Det

Interest and Finance Costs (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Interest and Finance Costs
Interest expense (Note 5)	$ 17,590,000	$ 18,610,000
Amortization of deferred financing fees	734,000	862,000
Other	77,000	77,000
Total	$ 18,401,000	$ 19,549,000

Derivative financial instrume_3

Derivative financial instrument (Details) - USD ($) $ in Thousands		6 Months Ended
	May 07, 2020	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Derivative financial instrument
Gain on derivative financial instruments, net		$ 1,668	$ 5,023
Interest rate swap
Derivative financial instrument
Derivative notional amount		447,000		$ 471,000
Fair value of derivative asset		5,009		$ 15,631
Gain on derivative financial instruments, net		1,668	5,023
Gain on non-hedging interest rate swaps		$ 12,200	$ 11,700
$675 million senior secured term loan facility ($675 Million Credit Facility) | Interest rate swap
Derivative financial instrument
Derivative inception date	Jun. 29, 2020
Derivative underlying	fixed 3-month LIBOR rate
Derivative, fixed interest rate	0.41%
Derivative, maturity date	September 2024

Derivative financial instrume_4

Derivative financial instrument - Not designated as Hedging Instrument - Balance Sheet Location (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative financial instrument
Derivative assets, Current	$ 5,009	$ 15,631
Interest rate swap
Derivative financial instrument
Derivative assets, Current	5,009	15,631
Derivative Asset, Total	$ 5,009	$ 15,631

Derivative financial instrume_5

Derivative financial instrument - Not Designated as Hedging Instrument - Net effect on the Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Derivative financial instrument
Gain on derivative instruments, net	$ 1,668	$ 5,023
Interest rate swap
Derivative financial instrument
Gain on derivative instruments, net	$ 1,668	$ 5,023

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent event - $ / shares	Jul. 26, 2024	Jul. 19, 2024
Quarterly Unit Cash Distribution from May 12, 2024 to August 11, 2024 | Series A Preferred
Subsequent Events
Distribution Made To Limited Partner And General Partner Announcement Date		Jul. 19, 2024
Distribution made to limited partner, distributions paid per unit		$ 0.5625
Distributions per unit declared - distribution date		August 15, 2024
Distributions per unit declared - record date		August 5, 2024
Quarterly Unit Cash Distribution from May 22, 2024 to August 21, 2024 | Series B Preferred
Subsequent Events
Distribution Made To Limited Partner And General Partner Announcement Date	Jul. 26, 2024
Distribution made to limited partner, distributions paid per unit	$ 0.714537806
Distributions per unit declared - distribution date	August 22, 2024
Distributions per unit declared - record date	August 15, 2024