Thank you for standing by ladies and gentlemen, and welcome to Dynagas LNG Partners Conference Call on the third quarter 2023 financial results. We have with us Mr. Tony Lauritzen, Chief Executive Officer, and Mr. Michael Gregos, Chief Financial Officer of the company. At this time, all participants are in a listen-only mode. [Operator Instructions]. I must advise that this conference is being recorded today. Please be reminded that the company announced its results with a press release that has been publicly distributed. At this time, I would like to remind everyone that in today's presentation and conference call, Dynagas LNG Partners will be making forward-looking statements. These statements are within the meaning of the federal securities laws. This conference call and slide presentation of the webcast contains certain forward-looking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. The statements in today's conference call that are not historical facts, including, among other things, the expected financial performance of Dynagas LNG Partners business, Dynagas Partners LNG ability to pursue growth opportunities, Dynagas Partners LNG expectations or objectives regarding future and market charter rate expectations and in particular, the effects of COVID-19 on the financial condition and operations of Dynagas Partners LNG and the LNG industry in general, may be forward-looking statements such as defined in the Section 21E of the Securities Exchange Act of 1934 as amended. Matters discussed may be forward-looking statements, which are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. I kindly draw your attention to Slide 2 of the webcast presentation, which has the full forward-looking statement and the same statement which was also included in the press release. Please take a moment to go through the whole statement and read it. And now I pass the floor to Mr. Lauritzen. Please go ahead, sir.

Good morning, everyone, and thank you for joining us in our three months ended 30 September '23 earnings conference call. I'm joined today by our CFO, Michael Gregos. We have issued a press release announcing our results for the said period. Certain non-GAAP measures will be discussed on this call and we have provided a description of those measures as well as a discussion of why we believe this information to be useful, in our press release. Let's move to Slide 3 of the presentation. We today present the results for the three-month period ending on September 30, 2023. We are pleased to announce that all six LNG carriers in our fleet were operating under long-term charters with esteemed international gas companies. For the third quarter of '23, we reported net income of $1.4 million and a loss per common unit of $0.04. Our adjusted net income stood at $3.1 million, translating to adjusted earnings per common unit of $0.01. Furthermore, our adjusted EBITDA for the same period reached $20.4 million. From an operational perspective, it was a busy period during which we completed the scheduled dry docks of the Yenisei River, Lena River and Arctic Aurora, including installation of ballast water treatment equipment in accordance with current regulations. Also, the Arctic Aurora was delivered to her new time charter party agreement with Equinor ASA in September 2023. The vessel has been continuously on charter with Equinor since she was delivered from her builders in 2013. I will now turn the presentation over to Michael, who will provide you with further comments to the financial results.

Thank you, Tony. Turning to Slide 4. Net income for the third quarter decreased by $6 million or 81% to $1.4 million compared to $7.4 million in Q3 2022, primarily due to the decrease in the unrealized gain on our interest rate swap of $13 million and the increase of $2.2 million in loan interest which were partially offset by the increase in the realized gain on our swap transaction of $3.9 million. Net income for this quarter was also impacted by the scheduled five-year special survey dry docks of the Arctic Aurora, Lena River and Yenisei River, which commenced and were completed within the third quarter and resulted in an increase of $9.8 million in dry docking and special survey costs which was, however, offset by the fact that under the time charter contracts for two of our LNG carriers, the time charters pay for the special survey and dry dock costs on a pass-through basis. Therefore, out of the total dry dock and special survey cost of $17.3 million for the quarter, $11.6 million was reimbursed from the time charters to the company and which has been reported in a separate line item in the P&L statement, revenues from contracts with customers. In addition, the three aforementioned vessels, which were dry docked, remained on hire for 56 days out of the total 110 dry-dock days for the quarter as per the provisions of their respective time charter parties. Similarly, although we experienced an increase in OpEx of $3.6 million versus the same period last year, $3 million of this increase relates to two LNG carriers, which are contracted on an OpEx pass-through basis meaning that for these two LNG carriers, there was a corresponding increase of $3 million in voyage revenues. It is noteworthy to point that compared…

Thank you, Michael. Let's move on to Slide 7 of the presentation. So at present, our fleet consists of six LNG carriers with an average age of approximately 13.3 years. Our current charters include gas companies such as Equinor of Norway, SEFE and Yamal Trade of Singapore as well as Rio Grande LNG, a subsidiary of NextDecade for the forward chartered vessels, Clean Energy and Arctic Aurora. As of 7 December 2023, the fleet's contracted backlog amounts to approximately $1.16 billion equating to an average backlog of about $193 million per vessel. Furthermore, the fleet enjoys an average remaining charter period of approximately 7.2 years. We are confident that our charter profile is strong and positions our partnership for stable income in the years to come. Moving on to Slide 8. Our commercial strategy is securing long-term charters with gas companies. We have built up a solid contract and backlog and by no unforeseen events, we have no contractual vessel availability until 2028 when the Clean Energy, Ob and Amur River will be available. The next availability after this is the Arctic Aurora, which will come off a Rio Grande LNG contract in 2033 following by Yenisei and Lena River in 2034, provided that charter's extension options are not exercised. According to findings, current liquefaction capacity is approximately 473 million tonnes per annum, with another 205 million tonnes per annum of additional LNG liquefaction capacity already FID’d and under construction for start of prior to 2030. This represents a total increase in energy liquefaction capacity of about 40%. Approximately 40% of this expansion will come from US export projects, 25% from Qatar and the remaining 35% will be split between the average projects, including Russia, Africa, Australia, Canada and Mexico. Additionally, there are a number of expansion projects in the…

Thank you. [Operator Instructions] Our first question comes from the line of Ben Nolan with Stifel. Please proceed with your question.

Hi, thanks, Tony, Michael. I really just have one. The -- as it relates to the refinancing of the debt, it's been something I know that you guys have been working on for quite a while. And I appreciate that it sounds like it's a 1Q type of event. I guess my question is, what's -- has this been -- is the holdup been something on your side? Or maybe is it a little bit more challenging to get banks to underwrite with the Yamal vessels in there? Any color as to sort of what the -- why it's taking so long?

No, I don't think that challenging is the right word. We're trying to find the optimal -- there is demand for financing our vessels. So I don't -- I wouldn't say there's a holdup. We've been working on it for some time. And it looks like we're going for a conclusion.

Okay. And so the Yamal stuff isn't really a factor or a problem?

Well, I mean, listen, our -- we have -- if you look at our whole fleet, we have a strong contract backlog, if you look at it in its totality. So there aren't that many interesting LNG projects out there in the market to be financed by banks. So all I can tell you is that there is demand for what we have to offer. It also has to be something that fits our needs.

Sure. All right, I appreciate it. Thank you.

Thank you. There are no other questions at this time. I'll turn the floor back to Mr. Lauritzen for any final comments.

We appreciate your time and your attentiveness. Thank you for your participation and look forward to connecting with you again on our next call. Thank you very much.

Thank you. This concludes today's conference call. You may disconnect your lines at this time. Thank you for your participation.