Thank you for standing by. Ladies and gentlemen, welcome to the Dynagas LNG Partners Conference Call on the Second Quarter 2024 Financial Results. We have with us today Mr. Tony Lauritzen, Chief Executive Officer; and Mr. Michael Gregos, Chief Financial Officer of the company. At this time, all participants are in listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions] I must advise you 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, slide presentation and 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 others, 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. Maybe forward-looking statements as such as defined in 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 to be 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'd like to turn the floor back over to Mr. Lauritzen. Please go ahead, sir.

Good morning, everyone, and thank you for joining us in our three-month ended 30 June, 2024 earnings conference call. I'm joined today by our CFO, Michael Gregos. We have issued a press release announcing our results for the third period. Certain non-GAAP measures will be discussed in this call. 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. So with that presentation, we'll move on to Slide number 3. We today present the results for the three-month ending on 30 June 2024. We are pleased to announce that all six LNG carriers in our fleet were operating on the long-term chances for the esteemed international gas companies. For the second quarter of 2024, we reported net income of $10.7 million and earnings per common unit of $0.20. Our adjusted net income stood at $12.4 million, translating to adjusted earnings per common unit of $0.25. Furthermore, our adjusted EBITDA for the same period reached $28.6 million. We were pleased with the conclusion of the new lease financing agreement with China Development Bank Financial Leasing for four of our LNG carriers. The $344.9 million financing along with $63.7 million from the partnerships existing cash reserves was used to fully repay our previous credit facility of $408.6 million on June 27, ahead of its maturity in September 24. Following a sustained period of strategic deleveraging, we now have a substantially reduced debt levels and secured a more flexible financing structure. With two of our LNG carriers is now debt free, the partnership is well positioned for its next phase. 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, let me start with the summary of the headline numbers for the second quarter. We maintained 100% scheduled fleet utilization during the second quarter. Revenue was in line at $37.6 million compared to $38 million in the first quarter. Average TCE of $67,300 per day is down from $68,100 in the first quarter across our fleet of six vessels affected by a small negative variation in the variable portion of the revenues contained in the time charters of two of our vessels compared to the previous quarter. Operating income for the second quarter is $18.8 million, a 2.6% decrease from the $19.3 million during the prior quarter. This was primarily related to the revenue variation mentioned earlier and slightly increased operating and G&A expenses. Net income for the second quarter is $10.7 million or $0.20 per common unit, which is slightly lower from the $11.75 million reported for the first quarter of this year, primarily relating to a reduction in the realized and unrealized gains on our mark-to-market interest rate swap by $850,000 as the interest rate swap approaches its maturity on September 18, 2024. In addition, a one-off loss on debt extinguishment of $331,000 as a result of the early per-payment of our prior credit facility [indiscernible] this quarter. Adjusted EBITDA for the second quarter was $28.6 million compared to $29 million in the first quarter, and adjusted net income for the quarter was $12.4 million, or $0.25 per common unit, unchanged from the prior quarter. Our average cash break even costs per vessel per day for the quarter, taking into account our daily operating expenses, G&A expenses and debt service per vessel per day, net of realized swap loans amounted to $44,881 per day, resulting in a surplus of $22,450 per…

Thank you, Michael. Let's continue and move on to Slide 7. Currently, our fleet comprises six LNG carriers with an average age of approximately 14.1 years. Our [first time] (ph) charters include multiple gas companies such as Equinor, SEFE, and Yamal Trade. Additionally, Rio Grande LLC, a subsidiary of NextDecade has forward-chartered our vessels, Clean Energy and the Arctic Aurora. As of September 10th, 2024, our fleet's contracted backlog stands at approximately $1.04 billion, which translates into an average of about $173 million per vessel. The fleet also enjoys an average remaining charter period of approximately 6.4 years. We are confident that our charter profile is robust, positioning our partnership for stable and reliable income in the years ahead. Moving on to Slide 8. Our current commercial strategy is centered on securing long-term charters with prominent gas companies, ensuring a stable revenue stream. As a result of this approach, we have accumulated a solid contract backlog. Barring any unforeseen events, we have no contractual vessel availability until the year 2028, when the Clean Energy, Ob and Amur River will be available. Following this, the Arctic Aurora will come off the Rio Grande energy contract in 2033 with the Yenisei and Lena River becoming available in 2034, provided that the charters do not exercise their extension options. The global fleet of LNG carriers has expanded rapidly, with the new building order book being at about 50% of the existing fleet. Most of these new builds are scheduled for delivery between now and 2028, and a significant majority of these orders have already been committed to specific charters. In a short to medium term, shipping capacity may exceed demand. However, in the medium to long term, we anticipate that the current order book will be observed as aging vessels are replaced and…

Thank you. We'll now be conducting a question-and-answer session. [Operator Instructions] We have reached the end of our question-and-answer session. I'd like to turn the floor back over to the CEO for any further or closing comments.

Well, we appreciate your time and attentiveness. Thank you for your participation. And we look forward to connecting with you again on our next call. Take care and goodbye.

Thank you. That does conclude today's teleconference and webcast. You may disconnect your line at this time and have a wonderful day. We thank you for your participation today. End of Q&A: