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<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>13. Subsequent Events: </b></font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(a) $200 Million Term Loan Facility draw down</b>: On January 5, 2016, the Partnership drew down the $66.7 million of undrawn committed funds under the $200 Million Term Loan Facility (Note 5). These funds were partially used to repay at the same date in full the $35.0 million credit financing provided by the Sponsor on the date the <i>Lena River </i>was acquired. The Partnership intends to use the remaining loan proceeds for working capital purposes.</font></div> <div style="text-align:justify;margin-left: 18.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(b) Fourth quarter of 2015 common and subordinated units distribution: </b>On January 19, 2015, the Partnership's Board of Directors approved a quarterly cash distribution, for the fourth quarter of 2015 of $0.4225 per common and subordinated unit, or $15.0 million which, on February 12, 2016, was paid to all unitholders of record as of February 5, 2016.  </font></div> <div style="text-align:justify;text-indent:17.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(c) Quarterly Series A Preferred Units distribution: </b>On January 19, 2015, the Partnership's Board of Directors further declared a cash distribution of $0.5625 per unit on its Series A Preferred Units for the period from November 12, 2015, to February 12, 2016. The cash distribution was paid on February 12, 2016 to all Series A preferred unitholders of record as of February 5, 2016. </font></div> <div style="text-align:justify;margin-top:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:justify;margin-top:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(d) </b><i><b>Lena River</b></i><b> new time charter:</b> On January 14, 2016, the Partnership, through one of its wholly owned subsidiaries, entered into a 15-year time charter with Yamal Trade Pte. Ltd. (Yamal) for the <i>Lena River </i>(the New <i>Lena River </i>Charter), expected to commence between July 1, 2019 and June 30, 2020. The New <i>Lena River</i> Charter contains an extension charter period option clause that grants Yamal the right but not the obligation to extend the term of the charter for three consecutive periods of up to five years. The charter party provides for a daily charter hire rate, comprised of a fixed capex element and a variable opex element. In each successive year, the opex element will be subject to adjustment, based on the vessel's budgeted operating expenditures for the relevant year. The New <i>Lena River</i> charter is subject to important conditions, which, if not satisfied by the Partnership or waived by the charterer, may result in the termination of the charter at the charterer's option, prior to or after employment commences. </font></div> <div style="text-align:justify;margin-top:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(e)</b><i><b> Yenisei River</b></i><b> new time charter:</b> On January 14, 2016, the Partnership, through one of its wholly owned subsidiaries, entered into a 15-year time charter with Yamal Trade Pte. Ltd. (Yamal) for the <i>Yenisei</i> R<i>iver </i>(the New <i>Yenisei River</i> Charter), expected to commence between January 1, and December 31, 2019. The terms and conditions of the New <i>Yenisei River</i> Charter are identical with the New <i>Lena River</i> Charter. There can be no assurance that the New <i>Yenisei River</i> Charter will be eventually materialized, as it is currently subject to the satisfaction of important subsequent conditions</font><font style="font-family:Calibri;font-size:14.7px;color:#000000; "> </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">which, if not satisfied or waived with Yamal, may result in the termination of the charter at the charterer's option, prior to or after employment commences.  </font></div> <div style="text-align:justify;margin-top:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(f)</b><i><b> Ob River</b></i><b> new time charter:</b> On March 23, 2016, the Partnership, through one of its wholly owned subsidiaries, entered into a new 10-year time-charter contract with Gazprom for the Ob River (the New Ob River Charter). At the same date, the Partnership amended its existing charter for the Ob River, to extend its firm duration from the third quarter of 2017 to the second quarter of 2018, on identical terms, at which time the New Ob River Charter will take effect. </font></div> <div style="text-align:justify;margin-top:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(g) Omnibus Agreement Amendment: </b>On April 12, 2016, the Partnership and its Sponsor entered into an amended and restated Omnibus Agreement, which is hereinafter referred to as the Amended Omnibus Agreement. The Amended Omnibus Agreement, among others, sets out</font><font style="font-family:Calibri;font-size:14.7px;color:#000000; "> </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">i) the terms and the extent the Partnership and the Sponsor may compete each other, ii) the procedures to be followed for the exercise of Partnership's options to acquire the Optional Vessels (as defined in the Omnibus Agreement) , including the Partnership's right to acquire the Sponsor's ownership interest (which is currently 49.0%) in each of five joint venture entities, each of which owns a 172,000 cubic meter ARC 7 LNG carrier, currently under construction,  iii) certain rights of first offer to the Sponsor for the acquisition of LNG carriers from the Partnership and, iv) the Sponsor's provisions of certain indemnities to the Partnership.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div> <div style="text-indent:0.0px;"></div>

<div style="margin-top:18.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>4. Vessels, net: </b></font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts in the accompanying consolidated balance sheets are analyzed as follows:</font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:71px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Vessel<br/>Cost</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Accumulated<br/>Depreciation</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:15px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Net Book<br/>Value</b></font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:68px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:68px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:68px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance December 31, 2013</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>540,454</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(87,279)</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>453,175</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:68px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vessel acquisitions (Note (3(c))</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">404,530</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">404,530</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:68px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Depreciation</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(17,822</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(17,822</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:68px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance December 31, 2014</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>944,984</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(105,101)</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>839,883</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:68px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vessel acquisitions and other additions to vessels' cost (Note (3(c))</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">220,661</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">220,661</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:68px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Depreciation</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(24,387</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:15px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(24,387</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:68px;background-color:#daeef3"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance December 31, 2015</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,165,645</b></font></div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(129,488)</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,036,157</b></font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:68px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:68px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td style="width:181px;"></td> <td style="width:1px;"></td> <td style="width:7px;"></td> <td style="width:62px;"></td> <td style="width:0px;"></td> <td style="width:1px;"></td> <td style="width:19px;"></td> <td style="width:13px;"></td> <td style="width:67px;"></td> <td style="width:8px;"></td> <td style="width:14px;"></td> <td style="width:15px;"></td> <td style="width:65px;"></td> <td style="width:68px;"></td> </tr> </table> <div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On December 17, 2015, the Partnership entered into a Share Purchase Agreement with its Sponsor for the acquisition of one 2013 built 155,000 cubic meter (cbm) ice class LNG carrier with a time charter attached, the <i>Lena River</i>, for an aggregate purchase price of $240.0 million, $220.0 million of which related to the value of the vessel acquired. The vessel was delivered to the Partnership on December 21, 2015 (Note (3(c)).</font></div> <div style="text-align:justify;margin-top:12.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In June and September 2014, the Partnership entered into Share Purchase agreements with its Sponsor to acquire the <i>Arctic Aurora </i>and the <i>Yenisei River </i>and their respective charters for an aggregate purchase price of $492.5 million (Note 3(c)). The vessels were delivered to the Partnership on June 23, 2014 and September 25, 2014, respectively.</font></div> <div style="text-align:justify;margin-top:6.0px;margin-bottom:6.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Effective October 1, 2014, the Partnership revised its scrap rate estimate, used to calculate the value of scrap steel for the purpose of estimating the residual values of vessels, from an average fleet scrap rate of $0.717 per lightweight ton (or a vessel specific of 12% of the initial vessel cost) to $0.685 per lightweight ton per LNG carrier. The effect of this change in the year ended December 31, 2015, was to increase annual depreciation expense by $152.</font></div> <div style="margin-top:18.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2015, all vessels comprising the Partnership's fleet were first priority mortgaged as collateral to secure the Partnership's debt financing outstanding as of December 31, 2015, further discussed in Note 5.</font></div> <div style="margin-top:18.0px;margin-bottom:12.0px;text-indent:0.0px;"></div>

<div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:71px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Vessel<br/>Cost</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Accumulated<br/>Depreciation</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:15px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Net Book<br/>Value</b></font></div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance December 31, 2013</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>540,454</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(87,279)</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>453,175</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vessel acquisitions (Note (3(c))</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">404,530</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">404,530</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Depreciation</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(17,822</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(17,822</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance December 31, 2014</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>944,984</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(105,101)</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>839,883</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vessel acquisitions and other additions to vessels' cost (Note (3(c))</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">220,661</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">220,661</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Depreciation</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(24,387</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:15px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(24,387</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:181px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance December 31, 2015</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,165,645</b></font></div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(129,488)</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:15px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,036,157</b></font></div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:181px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:15px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td style="width:181px;"></td> <td style="width:1px;"></td> <td style="width:7px;"></td> <td style="width:62px;"></td> <td style="width:0px;"></td> <td style="width:1px;"></td> <td style="width:19px;"></td> <td style="width:13px;"></td> <td style="width:67px;"></td> <td style="width:8px;"></td> <td style="width:14px;"></td> <td style="width:15px;"></td> <td style="width:65px;"></td> </tr> </table> <div></div>

<div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2. Significant Accounting Policies and Recent Accounting Pronouncements: </b></font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>      </b><i><b>(a) Principles of Consolidation:</b></i> The accompanying consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles in the United States of America (U.S. GAAP). The consolidated financial statements include the accounts of Dynagas Partners and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated upon consolidation. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas Partners, as the holding company, determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. Under Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) 810 "Consolidation" a voting interest entity is an entity in which the total equity investment at risk is deemed sufficient to absorb the expected losses of the entity, the equity holders have all the characteristics of a controlling financial interest and the legal entity is structured with substantive voting rights. The holding company consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%) of the voting interest. Variable interest entities ("VIE") are entities as defined under ASC 810 that in general either has equity investors with non-substantive voting rights or that have equity investors that do not provide sufficient financial resources for the entity to support its activities. The holding company has a controlling financial interest in a VIE and is, therefore, the primary beneficiary of a VIE if it has the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. A VIE should have only one primary beneficiary which is required to consolidate the VIE. A VIE may not have a primary beneficiary if no party meets the criteria described above. The Partnership evaluates all arrangements that may include a variable interest in an entity to determine if it is the primary beneficiary, and would be required to include assets, liabilities and operations of a VIE in its consolidated financial statements. As of December 31, 2015 and 2014, no such interests existed.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>      </b><i><b>(b) Use of Estimates:</b></i> The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>      </b><i><b>(c) Other Comprehensive Income:</b></i> The Partnership follows the provisions of ASC 220, Comprehensive Income which requires separate presentation of certain transactions, which are recorded directly as components of equity. The Partnership has no such transactions which affect other comprehensive income and, accordingly, for the years ended December 31, 2015, 2014 and 2013 comprehensive income equaled net income. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(d) Foreign Currency Translation:</b></i> The functional currency of the Partnership is the U.S. Dollar because the Partnership's vessels operate in international shipping markets, and therefore primarily transact business in U.S. Dollars. The Partnership's books of accounts are maintained in U.S. Dollars. Transactions involving other currencies during the year are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet date, monetary assets and liabilities, which are denominated in other currencies, are translated into U.S. Dollars using the balance sheet date exchange rates. Resulting gains or losses are included in Other, net in the accompanying consolidated statements of income.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(e) Cash and Cash Equivalents:</b></i> The Partnership considers highly liquid investments such as time deposits with an original maturity of three months or less to be cash equivalents.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(f) Restricted cash:</b></i> Restricted cash may comprise of i) minimum liquidity collateral requirements or minimum required cash deposits that are required to be maintained under the Partnership's financing arrangements, ii) cash deposits in so-called retention accounts which may only be used as per the Partnership's borrowing arrangements for the purpose of serving the loan installments coming due or iii) other cash deposits required to be retained until other specified conditions prescribed in the Partnership's debt agreements are met. In the event that the obligation to maintain such deposits is expected to be elapsed within the next operating cycle, these deposits are classified as current assets. Otherwise they are classified as non-current assets.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(g) Trade Receivables:</b></i> The amount shown as trade receivables, net, at each balance sheet date, includes receivables from charterers for hire net of any provision for doubtful accounts. 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 disputes. Provision for doubtful accounts as of December 31, 2015 and 2014 was nil.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(h) Inventories:</b></i> Inventories consist of lubricants which are stated at the lower of cost or market. Cost is determined by the first in, first out method. Inventories may also consist of bunkers during periods when vessels are unemployed or under voyage charters, that are also stated at the lower of cost or market and cost is still determined by the first in, first out method.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(i) Insurance Claims:</b></i> The Partnership records insurance claim recoveries for insured losses incurred on damage to fixed assets, loss of hire and for insured crew medical expenses. Insurance claim recoveries are recorded, net of any deductible amounts, at the time the Partnership's vessels suffer insured damages or when crew medical expenses are incurred, when recovery is probable under the related insurance policies, the Partnership can make an estimate of the amount to be reimbursed following submission of the insurance claim and when the claim is not subject to litigation. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(j) Vessels, Net:</b></i> Vessels are stated at cost, which consists of the contract price and any material expenses incurred upon delivery (initial repairs, improvements and delivery expenses, capitalized interest and on-site supervision costs incurred during the construction periods). Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels; otherwise these amounts are charged to expense as incurred. The cost of each of the Partnership's vessels is depreciated beginning when the vessel is ready for her intended use, on a straight-line basis over the vessel's remaining economic useful life, after considering the estimated residual value. With effect from October 1, 2014, the Partnership revised its' initial scrap rate estimate from an average fleet scrap rate of $0.717 per lightweight ton (or a vessel specific of 12% of the initial vessel cost) to $0.685 per lightweight ton per LNG carrier and that change in estimate is expected to decrease the Partnership's net income in future periods. Management estimates the useful life of the Partnership's vessels to be 35 years from the date of initial delivery from the shipyard. Secondhand vessels are depreciated from the date of their acquisition through their remaining estimated useful life. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(k) Impairment of Long-Lived Assets:</b></i> The Partnership follows ASC 360-10-40 Impairment or Disposals of Long-Lived Assets, which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. The standard requires that long-lived assets held and used by an entity be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. When the estimate of undiscounted projected operating cash flows, excluding interest charges, expected to be generated by the use of the asset is less than its carrying amount, the Partnership evaluates the asset for an impairment loss. Measurement of the impairment loss is based on the fair value of the asset. The fair values are determined through Level 2 inputs of the fair value hierarchy as defined in ASC 820 Fair value measurements and disclosures based on management's estimates and assumptions and by making use of available market data and taking into consideration third party valuations and other market observable data that allow value to be determined. The Partnership reviews its long-lived assets for impairment whenever events or changes in circumstances, such as undiscounted projected operating cash flows, business plans to dispose a vessel earlier than the end of its useful life and prevailing market conditions, indicate that the carrying amount of the assets may not be recoverable. The Partnership determines undiscounted projected net operating cash flows, for each vessel and compares it to the vessel's carrying value. In developing estimates of future cash flows, the Partnership must make assumptions about future charter rates, vessel operating expenses, fleet utilization, and the estimated remaining useful life of the vessels. These assumptions are based on historical trends as well as future expectations. The projected net operating cash flows are determined by considering the charter revenues from existing time charters for the fixed fleet days and an estimated charter rate for the unfixed days. Expected outflows for scheduled vessels' maintenance and vessel operating expenses are based on historical data, and adjusted annually assuming an average annual inflation rate prevailing at the time of test. An estimate is also applied to effective fleet utilization, taking into account the period(s) each vessel is expected to undergo her scheduled maintenance (dry-docking and special surveys) and vessels loss of hire from repositioning or other conditions. Estimates for the remaining estimated useful lives of the current fleet and scrap values are identical with those employed as part of the Partnership's depreciation policy. As of December 31, 2015, 2014 and 2013, the Partnership concluded that there were no events or changes in circumstances indicating that the carrying amount of its vessels may not be recoverable and accordingly no impairment loss was recorded for these years.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(l) Intangible assets/liabilities related to time charter acquired:</b></i> Where the Partnership identifies any assets or liabilities associated with the acquisition of a vessel, the Partnership records all such identified assets or liabilities at fair value. Fair value is determined by reference to market data. The Partnership values any asset or liability arising from the market value of the time charters assumed when a vessel is acquired. The amount to be recorded as an asset or liability at the date of vessel acquisition is determined by comparing the existing charter rate in the acquired time charter agreement with the market rates for equivalent time charter agreements prevailing at the time the  vessel is acquired.  When the present value of the time charter assumed is greater than the current fair value of such charter, the difference is recorded as an asset; otherwise, the difference is recorded as liability. Such assets and liabilities, respectively, are amortized as an adjustment to revenues, over the remaining term of the assumed time charter and are classified as non-current asset/ liability in the accompanying consolidated balance sheets. Impairment testing is performed when events or changes in circumstances indicate that the carrying amount of the intangible asset may not be recoverable.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(m) Accounting for Special Survey and Dry-Docking Costs:</b></i> The Partnership follows the direct expense method of accounting for dry-docking and special survey costs where such are expensed in the period incurred. The vessels undergo dry-dock or special survey approximately every five years during the first fifteen years of their life and subsequently every two and a half years to the end of their useful life. Costs relating to routine repairs and maintenance are also expensed as incurred.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(n) Financing Costs:</b></i> Costs associated with long-term debt, including fees paid to lenders or required to be paid to third parties on the lender's behalf for obtaining debt financing or refinancing existing one, are recorded contra to long-term debt. Such fees are deferred and amortized to interest and finance costs during the life of the related debt instrument using the effective interest method. Unamortized fees relating to loans repaid or refinanced as debt extinguishments and loan commitment fees are expensed as interest and finance costs in the period incurred in the accompanying statements of income. Any unamortized balance of costs relating to refinanced long-term debt are deferred and amortized over the term of the respective credit facility in the period the refinancing occurs, subject to the provisions of the accounting guidance relating to Debt - Modifications and Extinguishments. Following the early adoption of ASU. 2015-03 Interest - Imputation of Interest  to simplify the presentation of debt issuance costs, the Partnership, effective December 31, 2015, and with retrospective effect, presents unamortized deferred financing costs as a reduction of long term debt in the accompanying balance sheets. In order to conform with the current period presentation requirements, the Partnership has reclassified deferred financing costs, net from Deferred Charges and has decreased the amount of Current portion of long-term debt by $416 and the amount of Long-term portion of long-term debt by $7,077 on the consolidated balance sheet as of December 31, 2014. This reclassification has no impact on the Partnership's net income, cash flows and net assets for any period presented.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(o) Concentration of Credit Risk:</b></i> Financial instruments, which potentially subject the Partnership to significant concentrations of credit risk, consist principally of cash and cash equivalents and trade receivables. 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 accounts receivable by performing ongoing credit evaluations of its charterers' financial condition and generally does not require collateral for its accounts receivable.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the years ended December 31, 2015 and 2014, charterers that individually accounted for more than 10% of the Partnership's revenues were as follows: </font></div> <div style="text-align:center;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:121px;height:21px;"><div style="text-align:center;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Charterer</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:13px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">52</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">36</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">B</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">29</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:13px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; ">C</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:36px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">19</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:13px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:36px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>100</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>100</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>% </b></font></div></td> </tr> <tr> <td style="width:121px;"></td> <td style="width:19px;"></td> <td style="width:36px;"></td> <td style="width:18px;"></td> <td style="width:33px;"></td> <td style="width:39px;"></td> <td style="width:18px;"></td> </tr> </table> <div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(p) Accounting for Revenues and Related Expenses:</b></i> The Partnership generates its revenues from charterers for the chartering of its vessels. All vessels are chartered under time charters, where a contract is entered into for the use of a vessel for a specific period of time and at a specified daily charter hire rate. If a charter agreement exists and collection of the related revenue is reasonably assured, revenue is recognized, as it is earned ratably over the duration of the period of the time charter. Furthermore, revenues from time chartering of vessels are accounted for as operating leases and are thus recognized on a straight line basis as the average minimum lease revenue over the rental periods of such charter agreements, as service is performed with the residual or excess from actually collected hire based on the time charter agreement for each period being classified as deferred revenue in the accompanying consolidated balance sheets. Unearned revenue includes cash received prior to the balance sheet date for which all criteria to recognize as revenue have not yet been met as at the balance sheet date and accordingly is related to revenue earned after such date. Commissions are always paid for by the Partnership while the remaining voyage expenses, primarily consisting of port, canal and bunker expenses that are unique to a particular charter, are paid for by the charterer under the time charter arrangements or by the Partnership during periods of off-hire. All voyage expenses are expensed as incurred, except for commissions. Commissions paid to brokers are deferred and amortized over the related charter period to the extent revenue has been deferred since commissions are earned as the Partnership's revenues are earned.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(q) Repairs and Maintenance:</b></i> All repair and maintenance expenses including underwater inspection expenses are expensed in the period incurred. Such costs are included in vessel operating expenses in the accompanying consolidated statements of income. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(r) Earnings Per Unit:</b></i> The Partnership's capital structure consists of preferred units, common units, subordinated units, a general partner interest and incentive distribution rights. The incentive distribution rights are a separate class of non-voting interests that are currently held by the Partnership's general partner but, subject to certain restrictions, may be transferred or sold apart from the general partner's interest. The Partnership calculates basic earnings per each class of units by allocating period distributed and undistributed earnings to the General Partner, limited partners and incentive distribution rights holder using the two-class method and by utilizing the contractual terms of the partnership agreement. Basic earnings per common unit are computed by allocating distributed and undistributed net income/ (losses) available to common unitholders, after extracting the interest on the Partnership's net income of the preferred, subordinated and general partner unitholders, by the weighted average number of common units outstanding during the year. Any undistributed earnings for the period are allocated to the various unitholders based on the distribution waterfall for cash available for distribution specified in Dynagas Partners' partnership agreement. Where distributions relating to the period are in excess of earnings, the deficit is also allocated according to the cash distribution model. Diluted earnings per common unit reflect the potential dilution that could occur if securities or other contracts to issue units were exercised, if any. The Partnership had no dilutive securities outstanding during the three-year period ended December 31, 2015. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(s) Segment Reporting:</b></i> The Partnership has determined that it operates under one reportable segment relating to its operations as it operates solely LNG vessels. The Partnership reports financial information and evaluates its operations and operating results by type of vessel and not by the length or type of ship employment for its customers. The Partnership's management does not use discrete financial information to evaluate operating results for each type of charter. Although revenue can be identified according to these types of charters or for charters with different duration, management cannot and does not identify expenses, profitability or other financial information for these charters. Furthermore, when the Partnership charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographic information is impracticable.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(t) Fair Value Measurements:</b></i> The Partnership adopted ASC 820, Fair Value Measurements and Disclosures, which defines, and provides guidance as to the measurement of fair value. This guidance creates a fair value hierarchy of measurement and indicates that, when possible, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the reporting entity transacts. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable data that are not corroborated by market data (Level 3), for example, the reporting entity's own data. Observable market based inputs or unobservable inputs that are corroborated by market data are classified under Level 2 of the fair value hierarchy. Under the standard, fair value measurements would be separately disclosed by level within the fair value hierarchy. ASC 820 applies when assets or liabilities in the financial statements are to be measured at fair value, but does not require additional use of fair value beyond the requirements in other accounting principles. Upon issuance of guidance on the fair value option in 2007, the Partnership elected not to report the then existing financial assets or liabilities at fair value that were not already reported as such.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(u) Commitments and Contingencies:</b></i> Commitments are recognized when the Partnership has a present legal or constructive obligation as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle this obligation, and a reliable estimate of the amount of the obligation can be made. Provisions are reviewed at each balance sheet date and adjusted to reflect the present value of the expenditure expected to be required to settle the obligation. Contingent liabilities are not recognized in the financial statements but are disclosed unless the possibility of an outflow of resources embodying economic benefits is remote. Contingent assets are not recognized in the financial statements but are disclosed when an inflow of economic benefits is probable.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i><b>(v) Accounting for Financial Instruments:</b></i> The principal financial assets of the Partnership consist of cash and cash equivalents, restricted cash, amounts due from related parties and trade receivables, net. The principal financial liabilities of the Partnership consist of trade and other payables, accrued liabilities, long-term debt and amounts due to related parties. The Partnership may also consider from time to time entering into interest rate swap agreements to manage its exposure to fluctuations of interest rate risk associated with its borrowings Derivative financial instruments are generally used to manage risk related to fluctuations of interest rates. ASC 815, Derivatives and Hedging, requires all derivative contracts to be recorded at fair value, as determined in accordance with ASC 820, Fair Value Measurements and Disclosures (Note 6). The changes in fair value of a derivative contract are recognized in earnings unless specific hedging criteria are met. At the inception of a hedge relationship, the Partnership formally designates and documents the hedge relationship to which the Partnership wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument's effectiveness in offsetting exposure to changes in the hedged item's cash flows attributable to the hedged risk. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed on an ongoing basis to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated. All derivatives are recorded on the balance sheet as assets or liabilities and measured at fair value. For derivatives designated as cash flow hedges, the effective portion of the changes in fair value of the derivatives is recorded in Accumulated Other Comprehensive Income/ (Loss) and subsequently recognized in earnings when the hedged items impact earnings.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Recent Accounting Pronouncements:</b></font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2014-15: In August 2014, FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern. ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 requires an entity's management to evaluate at each reporting period based on the relevant conditions and events that are known at the date when financial statements are issued, whether there are conditions or events, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and to disclose the necessary information. The guidance is effective for annual periods ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. Management is in the process of assessing the impact of the new standard on the Partnership's consolidated financial position and performance.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2015-06: In April 2015, the FASB issued ASU 2015-06, Effects of Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions. The amendments in this Update specify that for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business for periods before the date of a dropdown of net assets accounted for as a common control transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method also are required. The amendments in this Update are effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted. An entity must apply the new guidance on a retrospective basis. The adoption of this standards update is not expected to have a material effect on the Partnership's future or historical financial position, results of operations or cash flows, to the extent that no drop down of a transferred business occurs. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2015-11: In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. ASU 2015-11 simplifies the subsequent measurement of inventory by replacing today's lower of cost or market test with a lower of cost and net realizable value test. The guidance applies only to inventories for which cost is determined by methods other than last-in first-out (LIFO) and the retail inventory method (RIM). Entities that use LIFO or RIM will continue to use existing impairment models. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted, and the new guidance must be applied prospectively after the date of adoption.  Management is in the process of assessing the impact of the new standard on the Partnership's consolidated financial position and performance.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2015-14:  In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which will supersede the current revenue recognition guidance and outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The ASU 2014-09 was amended by ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, which was issued in August 2015. Public entities can now elect to defer implementation of ASU 2014-09 to interim and annual periods beginning after December 15, 2017. Additionally, ASU 2015-14 permits early adoption of the standard but not before the original effective date, i.e. annual period beginning after December 15, 2016. The standard permits the use of either the retrospective or cumulative effect transition method. Based on current circumstances, the adoption of this new standard is not expected to have a material effect on the Partnership's future or historical financial position, results of operations or cash flows. The Partnership will evaluate the impact that ASU 2014-09 might have on its future consolidated financial statements, if relevant circumstances arise.  </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2016-01: In January 2016, the FASB issued ASU 2016-01, Financial Instruments- Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this Update affect all entities that hold financial assets or owe financial liabilities and address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. More precisely, the amendments in this Update i) require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee), ii) an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, iii) eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement for to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities, iv) require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes and v) require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. The amendments to the FASB Accounting Standards Codification prescribed in this Update are not expected to have a material effect on the Partnership's future financial position.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2016-02: In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) which provides new guidance related to accounting for leases and supersedes existing U.S. GAAP on lease accounting. The ASU will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases, unless the lease is a short term lease.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lessee accounting: A short term lease is defined in the ASU as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise.  The lease term is defined as the non-cancellable period for which a lessee has the right to use an underlying asset, together with all of the following: periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option; periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option; and periods covered by an option to extend (or not to terminate) the lease in which exercise of the option is controlled by the lessor.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">For short term leases, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Leases not considered short term - For all other leases, the lessee will be required to recognize the following at the commencement date of the lease: (1) a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. When measuring assets and liabilities arising from a lease, a lessee (and a lessor) should include payments to be made in optional periods only if the lessee is reasonably certain to exercise an option to extend the lease.  Similarly, optional payments to purchase the underlying asset should be included in the measurement of lease assets and lease liabilities only if the lessee is reasonably certain to exercise that purchase option. Reasonably certain is a high threshold that is consistent with and intended to be applied in the same way as the reasonably assured threshold in the current leases guidance. In addition, a lessee (and a lessor) should exclude most variable lease payments in measuring lease assets and lease liabilities, other than those that depend on an index or a rate or are in substance fixed payments.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Consistent with current guidance, the recognition, measurement, and presentation in the statements of income and cash flows will depend on the lease's classification as finance or operating lease. For finance leases, a lessee is required to recognize interest on the lease liability separately from amortization of the right-of-use asset in the statement of income; and classify repayments of the principal portion of the lease liability within financing activities and payments of interest on the lease liability and variable lease payments within operating activities in the statement of cash flows. For operating leases, a lessee is required to recognize a single lease cost in the statement of income (which will include both the amortization of the right-of-use asset and the interest element associated with the lease liability), calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis; and classify all cash payments within operating activities in the statement of cash flows.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lessor accounting: Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Public business entities should apply the amendments in ASU 2016-02 for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted for all public business entities and all nonpublic business entities upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The adoption of this new standard is not expected to have a material effect on the Partnership's future or historical financial position, results of operations or cash flows.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"></div>

<div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>5. Long-Term Debt:</b></font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows: </font></div> <div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:219px;height:17px;"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:155px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:219px;"><div style="margin-top:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Debt instruments</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:204px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Borrowers-Issuers</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:219px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$340.0 million Credit Facility</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pegasus-Lance-Seacrown-Fareastern</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">305,000</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">325,000</font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$250.0 million Senior Unsecured Notes</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas LNG Partners LP - Dynagas Finance Inc. </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">250,000</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">250,000</font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;background-color:#daeef3"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$200 Million Term Loan Facility</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Navajo- Solana</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">133,333</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total debt</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>688,333</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>575,000</b></font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;background-color:#daeef3"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Less deferred financing fees</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(8,048</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:3px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(7,493</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total debt, net of deferred finance costs</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>680,285</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>567,507</b></font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;height:28px;background-color:#daeef3"><div style="text-align:justify;margin-left: 1.3px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-1.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Less current portion, net of deferred financing fees</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;background-color:#daeef3"><div style="text-align:justify;margin-left: 19.7px;text-indent:-1.3px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(27,467</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(19,584</font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:219px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Long-term portion</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>652,818</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>547,923</b></font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:4px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> </tr> <tr> <td style="width:219px;"></td> <td style="width:2px;"></td> <td style="width:204px;"></td> <td style="width:2px;"></td> <td style="width:10px;"></td> <td style="width:65px;"></td> <td style="width:1px;"></td> <td style="width:1px;"></td> <td style="width:1px;"></td> <td style="width:1px;"></td> <td style="width:1px;"></td> <td style="width:8px;"></td> <td style="width:1px;"></td> <td style="width:62px;"></td> <td style="width:2px;"></td> <td style="width:2px;"></td> <td style="width:0px;"></td> </tr> </table> <div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b><u>$340 million Senior Secured Revolving Credit Facility:</u></b></i></font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On June 19, 2014, certain subsidiaries of the Partnership entered, on a joint and several basis, into a Senior Secured Revolving Credit Facility (the $340 Million Credit Facility) with an affiliate of Credit Suisse for $340.0 million to refinance the $214.1 million outstanding under a previous credit facility with the same lender and to fund a portion of the purchase price for the <i>Arctic Aurora</i> acquisition. On June 23, </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2014, the Partnership drew down in full the amount available under the respective facility, a part of which, along with the net proceeds from a follow on public common units offering concluded in June 2014 (Note 9), was utilized to fund the acquisition of the <i>Arctic Aurora</i> (Note 3(c)).The remainder of the amount drawn </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">under the facility was used to fully repay the then outstanding principal and interest of the previous facility. The $340 Million Credit Facility is guaranteed by the Partnership, Dynagas Equity Holding Ltd. and Dynagas Operating LP and is secured by a first priority or preferred cross-collateralized mortgage on each of the <i>Amur River</i>, the <i>Ob River</i>, the <i>Clean Energy</i> and the <i>Arctic Aurora</i>, a specific assignment of the existing charters and a first assignment of earnings and insurances in relation to the vessels. The facility bears interest at LIBOR plus a margin and is payable in 28 consecutive equal quarterly installments of $5.0 million each and a balloon payment of $200.0 million at maturity in March 2021. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The $340 Million Credit Facility contains financial and other covenants that require the Partnership to maintain: </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      a maximum ratio of total consolidated liabilities of the Partnership's consolidated market  value adjusted total assets;</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      a minimum interest coverage ratio;</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      minimum consolidated liquidity of $24.0 million;</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      employ at least three vessels in the fleet on charters with a minimum initial term of at least three years at above breakeven costs and </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      a minimum hull cover ratio, being the ratio of the aggregate of the vessels' market values and the net realizable value of any additional security over the outstanding amount of the facility.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, during the security period, the Sponsor, will be required to own, directly or indirectly, at least 30% of the outstanding voting interests of the Partnership (which shall include common and subordinated units of the Partnership) and 100% of the outstanding voting interests and limited liability company interests in the General Partner. Finally, the $340 Million Credit Facility similarly restricts the Partnership from paying any distributions if an event of default occurs.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b><u>$250 Million Senior Unsecured Notes due 2019</u></b></i></font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On September 15, 2014 the Partnership completed a public offering of $250.0 million aggregate principal amount Senior Unsecured Notes offering due October 30, 2019, (the Notes) with the purpose of funding the majority of the purchase price related to the <i>Yenisei River</i> acquisition. On September 25, 2014, consistent with their intended use, the net proceeds from this offering of approximately $244.9 million along with cash on hand funded the entire purchase price of the <i>Yenisei River</i> (Note 3(c)). The Notes bear interest from the date of the original issue until maturity at a rate of 6.25% per year, payable quarterly in arrears on January 30, April 30, July 30 and October 30 of each year. As per the provisions of the Notes and the Indenture, the Partnership may issue from time to time, unlimited as to principal amount senior unsecured debentures, to be issued in one or more series. The Notes are unsubordinated unsecured obligations of the Partnership and are not redeemable at its option prior to maturity. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Notes contain financial covenants that require the Partnership to:</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      maintain aggregate free liquidity, which includes the minimum liquidity held under the $340 Million Credit Facility, of at least $20.0 million;</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      a maximum ratio expressed as a percentage of total borrowings to total book assets and</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      maintain a certain minimum net worth level.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On terms similar with the $340 Million Credit Facility, the Notes restrict the Partnership from declaring or making any distributions if an event of default occurs. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b><u>$200 Million Term Loan Facility</u></b></i></font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On December 17, 2015, Navajo and Solana, wholly owned subsidiaries of the Partnership, entered, on a joint and several basis, into a facility agreement with a group of lenders (ABN AMRO N.V., KFW IPEX-Bank GMBH and DNB ASA), with ABN Amro NV acting as agent, for a senior secured term loan facility of up to $200.0 million, to partially finance the <i>Lena River</i> acquisition, further discussed in Note 3(c), and for working capital purposes. The financing agreement has a five year maturity profile, and is split in two vessel tranches, one for each of the vessels owned by Navajo and Solana, respectively, with each tranche being for a maximum $100.0 million. The $200 Million Term Loan Facility bears interest at LIBOR plus a margin. Each tranche is repayable in 20 consecutive quarterly installments of approximately $1.56 million each and a balloon payment of $68.8 million at maturity, such balloon payment and regular installments to be reduced pro-rata for a tranche of less than $100 million. On December 21, 2015, in connection with the <i>Lena River</i> acquisition, the Partnership drew down $133.3 million from the $200 Million Term Loan Facility, or $66.65 million per borrowing entity, being the first out of two advances of both vessel tranches. On January 5, 2016, the Partnership drew down the $66.7 million available undrawn commitments, or the second advance of both vessel tranches of the $200 Million Term Loan Facility (Note 13(a)). Of these amounts, $35.0 million were used at the same date to repay in full the credit financing provided by the Sponsor to the Partnership to acquire the <i>Lena River</i> (Note 3(c)).The $200 Million Term Loan Facility is unconditionally and irrevocably guaranteed by Dynagas Partners and is secured, amongst other, by a first priority cross-collateralized mortgage on each of the <i>Yenisei River</i> and the <i>Lena River</i>, a first priority specific assignment of the existing time charters, a first priority assignment of all insurances and earnings of the vessels and an assignment of any subsequent time charter of a duration of more than twelve months.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The $200 Million Term Loan Facility contains financial and other covenants similar to those of the $340 Million Credit Facility and the Notes that require the Partnership to maintain: </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      a maximum ratio of total consolidated liabilities of the Partnership's consolidated market  value adjusted total assets;</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      a minimum interest coverage ratio;</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      minimum consolidated liquidity of at least $25.0 million, which shall include the $24.0 million minimum consolidated liquidity requirement imposed under the $340 Million Credit Facility and </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      a minimum asset cover ratio, on a per vessel basis, being the ratio of the vessel's market value and the net realizable value of any additional security over the outstanding amount of the relevant tranche.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The $200 Million Term Loan Facility further imposes certain additional cash related restrictions that require the borrowing entities (Solana and Navajo) to: </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      maintain minimum liquidity of $2.5 million on a per vessel basis and</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      build up, by the third anniversary from drawdown date, a cash collateral reserve of $7.5 million per vessel on a designated account by 33 and 31 equal monthly installments for each of the <i>Lena River</i> and the <i>Yenisei River</i>, respectively, to the extent that a subsequent time charter contract with a minimum firm term until the credit facility maturity date at a minimum specified daily time charter rate has not been entered into. In case such charter contract is entered into, the funds will be released from each vessel's designated account. As of December 31, 2015, the borrowers were not yet bound to deposit any amounts into the respective accounts.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The $200 Million Term Loan Facility contains customary general undertakings that require the Partnership to limit shareholder loans with respect to the borrowers up to maximum amount, restrict additional indebtedness with respect to the borrowers and ensure that the Sponsor always maintains, directly or indirectly, at least 30% of the outstanding voting interests of the Partnership. On terms similar with the $340 Million Credit Facility and the Notes, the $200 Million Term Loan Facility restricts the Partnership from paying any distributions if an event of default occurs.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The undrawn borrowing capacity under the Partnership's debt agreements as at December 31, 2015, and 2014 was $66.7 million and nil, respectively.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2015, the Partnership was in compliance with all financial covenants prescribed in its debt agreements.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The annual principal payments for the Partnership's outstanding debt arrangements as at December 31, 2015, required to be made after the balance sheet date were as follows: </font></div> <div style="text-align:justify;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:129px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Year ending December 31,</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Amount</b></font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:129px;height:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2016</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,333</font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2017</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,333</font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2018</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,333</font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2019</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">278,334</font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:15px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2020</font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">120,000</font></div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:65px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2021 and thereafter</font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">205,000</font></div></td> </tr> <tr> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:15px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:15px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total long term debt</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>688,333</b></font></div></td> </tr> <tr> <td style="width:65px;"></td> <td style="width:64px;"></td> <td style="width:63px;"></td> <td style="width:64px;"></td> <td style="width:64px;"></td> </tr> </table> <div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">                        </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Partnership's weighted average interest rate on its long-term debt for the years ended December 31, 2015, 2014 and 2013 was 4.5%, 3.8% and 2.4%, respectively. </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Total interest incurred on long-term debt for the years ended December 31, 2015, 2014 and 2013, amounted to$25,926, $13,338 and $8,248, respectively and is included in Interest and finance costs (Note 11) in the accompanying consolidated statements of income.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Commitment fees incurred for 2015, 2014 and 2013, amounted to $15, $360 and $327 respectively. Such fees are included in Interest and finance costs (Note 11) in the accompanying consolidated statements of income.</font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div> <div style="text-indent:0.0px;"></div>

<div style="text-align:justify;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:129px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Year ending December 31,</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Amount</b></font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:129px;height:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2016</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,333</font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2017</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,333</font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:14px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2018</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,333</font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2019</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">278,334</font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:15px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2020</font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">120,000</font></div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:65px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2021 and thereafter</font></div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">205,000</font></div></td> </tr> <tr> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:15px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> </tr> <tr> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:129px;height:15px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total long term debt</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td> <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>688,333</b></font></div></td> </tr> <tr> <td style="width:65px;"></td> <td style="width:64px;"></td> <td style="width:63px;"></td> <td style="width:64px;"></td> <td style="width:64px;"></td> </tr> </table> <div></div>

<div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:219px;height:17px;"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="11" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:155px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div></td> </tr> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:219px;"><div style="margin-top:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Debt instruments</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:204px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Borrowers-Issuers</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> </tr> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:219px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$340.0 million Credit Facility</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pegasus-Lance-Seacrown-Fareastern</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">305,000</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">325,000</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$250.0 million Senior Unsecured Notes</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas LNG Partners LP - Dynagas Finance Inc. </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">250,000</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">250,000</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;background-color:#daeef3"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$200 Million Term Loan Facility</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Navajo- Solana</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">133,333</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total debt</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>688,333</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>575,000</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;background-color:#daeef3"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Less deferred financing fees</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(8,048</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:3px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(7,493</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total debt, net of deferred finance costs</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>680,285</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>567,507</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;height:28px;background-color:#daeef3"><div style="text-align:justify;margin-left: 1.3px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-1.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Less current portion, net of deferred financing fees</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;background-color:#daeef3"><div style="text-align:justify;margin-left: 19.7px;text-indent:-1.3px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:65px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(27,467</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(19,584</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:219px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:219px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Long-term portion</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:204px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>652,818</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>547,923</b></font></div></td> </tr> <tr> <td style="width:219px;"></td> <td style="width:2px;"></td> <td style="width:204px;"></td> <td style="width:2px;"></td> <td style="width:10px;"></td> <td style="width:65px;"></td> <td style="width:1px;"></td> <td style="width:1px;"></td> <td style="width:1px;"></td> <td style="width:1px;"></td> <td style="width:1px;"></td> <td style="width:8px;"></td> <td style="width:1px;"></td> <td style="width:62px;"></td> <td style="width:2px;"></td> </tr> </table> <div></div> <div style="margin-top:13.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>11. Interest and Finance Costs: </b></font></div> <div style="margin-top:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts in the accompanying consolidated statements of income are analyzed as follows: </font></div> <div style="text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:285px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="8" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:212px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Year ended December 31,</b></font></div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:285px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:50px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:11px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:59px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>2014</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:11px;"><div style="text-indent:0.0px;"> </div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:12px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:60px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>2013</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:285px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest expense (Note 5)</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:50px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">25,926</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:48px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">13,338</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:12px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:60px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,248</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:285px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Amortization of deferred financing fees</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:50px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,545</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:48px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">785</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,050</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:285px;height:14px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Commitment fees (Note 5)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">15</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:48px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">360</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:60px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">327</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:285px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:50px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">488</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:48px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">41</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:12px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">107</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:285px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:50px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>27,974</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:48px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14,524</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:12px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:60px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9,732</b></font></div></td> </tr> <tr> <td style="width:285px;"></td> <td style="width:7px;"></td> <td style="width:50px;"></td> <td style="width:11px;"></td> <td style="width:10px;"></td> <td style="width:48px;"></td> <td style="width:11px;"></td> <td style="width:12px;"></td> <td style="width:60px;"></td> </tr> </table> <div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"><b> </b></font></div> <div style="text-align:justify;text-indent:0.0px;"></div>

<div style="margin-top:9.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>10. Earnings per Unit:</b></font></div> <div style="text-align:justify;margin-top:9.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Partnership calculates earnings per unit by allocating distributed and undistributed net income/ (losses) for each period to common, subordinated 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 Dynagas Partners' partnership agreement, as generally prescribed in Note 9 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.</font></div> <div style="text-align:justify;margin-top:9.0px;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The calculations of the basic and diluted earnings per common unit are presented below: </font></div> <div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="9" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:276px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year ended December 31,</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:17px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2013</b></font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Partnership's Net income</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">60,050</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50,561</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">45,620</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Less: </b></i></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:3px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Net Income attributable to preferred unitholders</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,019</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;background-color:#d5ecf7"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Net Income attributable to subordinated unitholders</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,028</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">22,170</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">22,787</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:3px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">General Partner's interest in Net Income</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">125</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">68</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">46</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;background-color:#d5ecf7"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net income attributable to common unitholders</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#d5ecf7"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>32,878</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>28,323</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>22,787</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:3px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Weighted average number of common units outstanding, basic and diluted</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">20,505,000</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17,964,288</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,729,521</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;background-color:#d5ecf7"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Earnings per common unit, basic and diluted</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#d5ecf7"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1.60</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1.58</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2.95</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:3px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td style="width:306px;"></td> <td style="width:3px;"></td> <td style="width:9px;"></td> <td style="width:63px;"></td> <td style="width:12px;"></td> <td style="width:18px;"></td> <td style="width:64px;"></td> <td style="width:14px;"></td> <td style="width:17px;"></td> <td style="width:72px;"></td> <td style="width:3px;"></td> </tr> </table> <div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"><b> </b></font></div> <div style="margin-top:13.0px;text-indent:0.0px;"></div>

<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>8. Commitments and Contingencies: </b></font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(a) </b><i><b>Long-term time charters: </b></i></font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;margin-top:4.0px;text-indent:32.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In June 2015, the <i>Amur River</i> completed its time charter with the BG Group and commenced employment under a new 13-year time charter with Gazprom Marketing & Trading Singapore Pte. Ltd (Gazprom). As at December 31, 2015, the estimated contracted revenue backlog of the <i>Amur River</i> charter approximated $298.8 million.</font></div> <div style="text-align:justify;margin-top:4.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Partnership's future minimum contractual charter revenues under its non-cancelable long-term time charter contracts as of December 31, 2015, gross of brokerage commissions, without taking into consideration any assumed off-hire (including those arising out of periodical class survey requirements), are as analyzed below: </font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:center;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 258.7px;pt;border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:376px;height:28px;"><div style="text-align:center;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Year ending December 31,</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:51px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Amount</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:376px;height:7px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2016</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:109px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:43px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">178,590</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:0px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2017</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">147,211</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2018</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:43px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">79,791</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2019</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,273</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2020</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:43px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,339</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Thereafter</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">176,425</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:43px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>630,629</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td style="width:376px;"></td> <td style="width:109px;"></td> <td style="width:8px;"></td> <td style="width:43px;"></td> <td style="width:0px;"></td> </tr> </table> <div><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000;"> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(b) </b><i><b>Other:</b></i></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">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. Currently, management is not aware of any such claims not covered by insurance or contingent liabilities, which should be disclosed, or for which a provision should be established in the accompanying unaudited interim condensed consolidated financial statements. The Partnership accrues for </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, management is not aware of any such claims or contingent liabilities, which should be disclosed, or for which a provision should be established in the accompanying unaudited interim condensed consolidated financial statements. The Partnership is covered for liabilities associated with the individual vessels' actions to the maximum limits as provided by Protection and Indemnity (P&I) Clubs, members of the International Group of P&I Clubs.</font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(c) </b><i><b>Technical and Commercial Management Agreement:</b></i></font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">         As further disclosed in Note 3, the Partnership has contracted the commercial, administrative and technical management of its vessels to Dynagas Ltd. For the commercial services provided under this 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 under all circumstances until the termination of each charter party in force at the time of termination. The estimated commission payable to the Manager over the minimum contractual charter revenues, discussed under (a) above, is $7,883. For vessel administrative and technical management fees the Partnership currently pays a daily management fee of $2.7 per vessel (Note 3(a)). Such management fees for the period from January 1, 2016 to the expiration of the agreements on December 31, 2020, adjusted for 3% inflation as per agreement, are estimated to be $31,798 and are analyzed as follows:</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 260.0px;pt;border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:412px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Period/ Year ending December 31,</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:129px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:45px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Amount</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:412px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2016</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:129px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,000</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:412px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2017</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,162</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:412px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2018</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,347</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:412px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2019</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,537</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:412px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2020</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,752</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:412px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>31,798</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:38px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td style="width:412px;"></td> <td style="width:129px;"></td> <td style="width:7px;"></td> <td style="width:38px;"></td> <td style="width:1px;"></td> </tr> </table> <div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"><b> </b></font></div> <div style="margin-top:12.0px;text-indent:0.0px;"></div>

<div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>7. Time charters acquired:</b></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During 2015, the Partnership acquired from its Sponsor one LNG carrier, the <i>Lena River</i>, with an attached time charter contract with a term of approximately 2.8 years (Note 3(c)). At the acquisition date, the Partnership evaluated the attached charter contract by comparing the charter rate in the acquired time charter agreement with the market rate for time charter agreements with equivalent characteristics prevailing at the time the vessel was acquired. As a result, the Partnership recognized an intangible asset of $20,000 which represents the fair value of the favorable time charter acquired.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">For the year ended December 31, 2015, the amortization of the above market acquired time charter related to the <i>Lena River </i>acquisition amounted to $218 and is included in Voyage revenues in the accompanying consolidated statements of income. The unamortized portion of the respective intangible asset as of December 31, 2015, amounting to $19,782, is presented under Above-market acquired time charter contract in the accompanying balance sheet and will be amortized to revenues through the expected remaining term of the respective charter contract as follows: </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:115px;height:24px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Year ending December 31,</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:245px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:185px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Amount</b></font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:115px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2016</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:245px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:166px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:38px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,267</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2017</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:245px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:166px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,247</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:115px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2018</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:245px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:166px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:38px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">5,268</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:115px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:245px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:166px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:38px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:115px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:245px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:166px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>19,782</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:245px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:166px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:38px;"><div style="text-indent:0.0px;"> </div></td> <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td style="width:115px;"></td> <td style="width:245px;"></td> <td style="width:166px;"></td> <td style="width:18px;"></td> <td style="width:19px;"></td> <td style="width:2px;"></td> <td style="width:23px;"></td> </tr> </table> <div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div> <div style="text-align:justify;text-indent:0.0px;"></div>

<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>12. Taxes:</b></font></div> <div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Under the laws of the countries of the companies' incorporation and / or vessels' registration, the companies are not subject to tax on international shipping income; however, they are subject to registration and tonnage taxes, which are included in Vessel operating expenses in the accompanying consolidated statements of income. In addition, effective January 1, 2013, each foreign flagged vessel managed in Greece by Greek or foreign ship management companies is subject to Greek tonnage tax, under the laws of the Greek Republic. The technical manager of the Partnership's vessels, Dynagas Ltd an affiliate (Note 3(a)) which is established in Greece under Greek Law 89/67 is responsible for the filing and payment of the respective tonnage tax on behalf the Partnership. These tonnage taxes for the years ended December 31, 2015, 2014 and 2013 amounted $270, $245 and $96, respectively, and have also been included in Vessel operating expenses in the accompanying consolidated statements of income. </font></div> <div style="text-align:justify;text-indent:32.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pursuant to the Internal Revenue Code of the United States (the Code), U.S. source income from the international operations of ships is generally exempt from U.S. tax if the Partnership operating the ships meets both of the following requirements, (a) the Partnership is organized in a foreign country that grants an equivalent exception to corporations organized in the United States and exempts the type of income earned by the vessel owing Partnership and (b) either (i) more than 50% of the value of the Partnership's stock is owned, directly or indirectly, by individuals who are residents of the Partnership's country of organization </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">or of another foreign country that grants an equivalent exemption to corporations organized in the United States (50% Ownership Test) or (ii) the Partnership's stock is primarily and regularly traded on an established securities market in its country of organization, in another country that grants an equivalent exemption to United States corporations, or in the United States (Publicly-Traded Test). Additionally, the Partnership must meet all of the documentation requirements as outlined in the regulations. </font></div> <div style="text-align:justify;margin-top:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Partnership and each of its subsidiaries expects to qualify for this statutory tax exemption for the 2015, 2014 and 2013 taxable years, and the Partnership takes this position for United States federal income tax return reporting purposes. In the absence of an exemption under Section 883, based on its U.S. source Shipping Income, the Partnership would be subject to U.S. federal income tax approximately nil for the year ended December 31, 2013, $15 for the year ended December 31, 2014, and $42 for the year ended December 31, 2015. </font></div> <div style="text-align:justify;margin-top:6.0px;text-indent:0.0px;"></div>

<div style="margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9. Partners' Equity: </b></font></div> <div style="margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:justify;margin-left: 36.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(a) Initial Public Offering</b></i>: On November 18, 2013, the Partnership completed its initial public offering of 8,250,000 common units at a price of $18.00 per unit on the NASDAQ Global Market and raised gross proceeds of $148.5 million. The net IPO proceeds amounted to $136.9 million, after deducting underwriting commission of $8.9 million and equity raising expenditures of $2.7 million. The IPO expenditures were fully settled up to December 31, 2014.Concurrently with the sale of the Partnership's common units and at the same price per unit, Dynagas Holding Ltd. sold 4,250,000 common units. The Partnership did not receive any proceeds from this sale. On December 5, 2013, the underwriters exercised their over-allotment option granted to them by Dynagas Holding, following which, the Sponsor offered 1,875,000 additional common units to the public on the same terms as in the initial offering. The Partnership did not receive any proceeds from the sale of these additional common units.  </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;margin-left: 36.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(b) Common Units Offering: </b></i>On June 18, 2014, the Partnership completed a follow on public offering of 5,520,000 common units, including the full exercise of the underwriters' over-allotment option to purchase up to 720,000 common units. The net proceeds from the offering amounted to $120.5 million, after deducting the underwriting discount of $4.7 million and offering expenses incurred of $0.6 million and were used to fund the acquisition of the <i>Arctic Aurora </i>(Note 3(c)). Simultaneously with the closing of this offering, the Partnership issued $5,526 General Partner units to the Sponsor to allow it to maintain its 0.1% general partner interest for which the Partnership received $126. No other common units offerings occurred since then. </font></div> <div style="margin-left: 48.0px;margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;margin-left: 36.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;margin-left: 36.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(c) Preferred Units Offering: </b></i>On July 20, 2015, the Partnership concluded an underwritten public offering of the 3,000,000 Series A Preferred Units, representing limited partner interests in the Partnership, at a liquidation preference of $25.00 per unit. The Partnership received from this offering $72.3 million, net of underwriting discount of $2.4 million and offering expenses incurred of $0.3 million and used those proceeds to finance the <i>Lena River </i>acquisition (Note 3(c)). </font></div> <div style="text-align:justify;margin-left: 36.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2015, the Partnership had 20,505,000 common units, 14,985,000 subordinated units, 3,000,000 Series A Preferred Units and 35,526 general partner units issued and outstanding.  </font></div> <div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Common, Subordinated and General Partner Units Distributions: </b></i>The partnership agreement provides for minimum quarterly distributions of a specified dollar amount to the extent there is sufficient cash from operations after establishment of cash reserves and payment of fees and expenses, including payments to the General Partner. In general, the Partnership pays quarterly cash distributions in the following manner:</font></div> <div style="text-align:justify;margin-left: 36.0px;text-indent:-29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="margin-left: 47.6px;margin-top:4.0px;text-indent:-22.7px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">            <i>first</i>, 99.9% to the holders of common units and 0.1% to the General Partner, until each common unit has received a minimum quarterly distribution of a specified dollar amount plus any arrearages from prior quarters</font></div> <div style="margin-left: 48.9px;margin-top:4.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i>second</i>, 99.9% to the holders of subordinated units and 0.1% to the General Partner, until each subordinated unit has received a minimum quarterly distribution of a specified dollar amount; and</font></div> <div style="text-align:justify;margin-left: 48.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;margin-left: 48.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">      <i>third</i>, 99.9% to all unitholders, pro rata, and 0.1% to the General Partner, until each unit has received an aggregate distribution of a specified dollar amount</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Thereafter, the percentage allocations of the additional available cash from operating surplus among the unitholders, the General Partner and the holders of the incentive distribution rights up to the various target distribution levels are as follows: </font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:213px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:177px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Total Quarterly<br/>Distribution Target<br/>Amount</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Unitholders</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>General<br/>Partner</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Holders<br/>of IDRs</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:213px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Minimum Quarterly Distribution</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:177px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$0.365</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">99.9</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">0.1</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:40px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">0.0</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:213px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">First Target Distribution</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:177px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">up to $0.420</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">99.9</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">0.1</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:40px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">0.0</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:213px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Second Target Distribution</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:177px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">above $0.420 up to $0.456</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">85.0</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">0.1</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:40px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14.9</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:213px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Third Target Distribution</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:177px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Above $0.456 up to $0.548</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">75.0</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">0.1</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:40px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24.9</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:213px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Thereafter</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:177px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">above $0.548</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50.0</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">0.1</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:40px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">49.9</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td style="width:213px;"></td> <td style="width:1px;"></td> <td style="width:177px;"></td> <td style="width:1px;"></td> <td style="width:3px;"></td> <td style="width:59px;"></td> <td style="width:14px;"></td> <td style="width:1px;"></td> <td style="width:2px;"></td> <td style="width:39px;"></td> <td style="width:14px;"></td> <td style="width:1px;"></td> <td style="width:2px;"></td> <td style="width:40px;"></td> <td style="width:14px;"></td> </tr> </table> <div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Under the partnership agreement, the holder of the incentive distribution rights in the Partnership, which is currently the General Partner, assuming that there are no cumulative arrearages on common unit distributions, has the right to receive an increasing percentage of cash distributions after the first target distribution.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>General Partner Distributions:</b></i> During the years ended December 31, 2015 and 2014, the Partnership paid to its General Partner and holder of the incentive distribution rights in the Partnership an amount of $130 and $44, respectively.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Preferred Units Distributions: </b></i>Distributions on the Series A Preferred Units are cumulative from the date of original issue and will be payable quarterly on February 12, May 12, August 12 and November 12, of each year, commencing November 12, 2015, subject to the discretion of the Partnership's Board of Directors. Distributions will be payable out of amounts legally available at a distribution rate of 9.00% per annum of the stated liquidation preference.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Any time on or after August 12, 2020, the Series A Preferred Units may be redeemed, in whole or in part, at the issuer's option, out of amounts legally available thereof, 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. </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Series A Preferred Units represent perpetual equity interests in the Partnership and, 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 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 that is not expressly made senior to or on a parity with the Series A Preferred Units as to payment of distributions. The Series A Preferred Units rank junior to all of the Partnership's indebtedness.  </font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On January 14, 2015, the Partnership's Board of Directors approved its increased over the previous quarter cash distribution for the fourth quarter of 2014 of $0.4225 per common and subordinated unit, or $15.0 million, which was paid on February 12, 2015, to all unitholders of record as of February 5, 2015. </font></div> <div style="text-align:justify;text-indent:37.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On April 16, 2015, the Partnership's Board of Directors approved a quarterly cash distribution, for the quarter ended March 31, 2015, of $0.4225 per common and subordinated unit, or $15.0 million, which was paid on May 12, 2015, to all unitholders of record as of May 5, 2015.</font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On July 22, 2015, the Partnership's Board of Directors approved a quarterly cash distribution, for the quarter ended June 30, 2015, of $0.4225 per common and subordinated unit, or $15.0 million, which was paid on August 13, 2015, to all unitholders of record as of August 6, 2015.  </font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On October 21, 2015, the Partnership's Board of Directors approved a quarterly cash distribution, for the quarter ended September 30, 2015 of $0.4225 per common and subordinated unit, or $15.0 million which was paid up to November 12, 2015, to all unitholders of record as of November 5, 2015.  </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On October 21, 2015, the Partnership's Board of Directors further approved the first prorated cash distribution on the Series A Preferred units, for the period from July 20, 2015 to November 12, 2015, which was paid on November 12, 2015, to all preferred unitholders of record as of November 5, 2015.  </font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, on June 23, 2014 and September 25, 2014, upon acquisition from the Partnership's Sponsor of the <i>Arctic Aurora </i>and the <i>Yenisei River,</i> the purchase price in excess of the vessels' book value at the date of each transaction, aggregating to $88.1 million, was considered a preferential deemed dividend to the Sponsor and was allocated to Partner's equity in accordance with the number of units held by the Sponsor. </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div> <div style="text-align:justify;text-indent:0.0px;"></div>

<div style="margin-top:9.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>6. Fair Value Measurements:</b></font></div> <div style="text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:37.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The carrying amounts of cash and cash equivalents, trade receivables, trade payables and current portion of amounts due to/from related party reported in the accompanying consolidated balance sheets approximate their respective fair values because of the short-term nature of these accounts. The fair values of long-term bank loan and restricted cash approximate the recorded values due to the variable interest rates payable. The Notes have a fixed rate, and their estimated fair value, determined through Level 2 inputs of the fair value hierarchy (quoted price in the over-the counter-market), is approximately $172.5 million as of December 31, 2015, compared to its carrying value of $250.0 million. The fair value of non-current portion of amounts due from related party, determined through Level 3 inputs of the fair value hierarchy by discounting future cash flows using the Partnership's estimated cost of capital, is $891 as of December 31, 2015, compared to its carrying value of $1,350. Additionally, the Partnership considers its creditworthiness in determining the fair value of the credit facilities. </font></div> <div style="text-align:justify;margin-top:9.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The guidance for fair value measurements applies to all assets and liabilities that are being measured and reported on a fair value basis. This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: </font></div> <div style="margin-left: 30.0px;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Level 1: Quoted market prices in active markets for identical assets or liabilities. </font></div> <div style="margin-left: 30.0px;margin-top:4.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.</font></div> <div style="margin-left: 30.0px;margin-top:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Level 3: Unobservable inputs that are not corroborated by market data.</font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div> <div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"></div>

<div style="margin-top:13.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3. Transactions with related parties: </b></font></div> <div style="margin-top:6.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the years ended December 31, 2015, 2014 and 2013,  the Partnership incurred the following charges in connection with related party transactions, which are included in the accompanying consolidated financial statements:</font></div> <div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="7" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:298px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year ended December 31,</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:14px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2013</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Included in voyage expenses</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Charter hire commissions (a) </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,821</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,363</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,011</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;background-color:#daeef3"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Included in general and administrative expenses </b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Executive services fee (d)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">599</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">803</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Administrative services fee (e)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">120</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">134</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Management fees-related party </b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Management fees (a)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4,870</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,566</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,737</font></div></td> </tr> <tr> <td style="width:231px;"></td> <td style="width:28px;"></td> <td style="width:24px;"></td> <td style="width:62px;"></td> <td style="width:33px;"></td> <td style="width:19px;"></td> <td style="width:63px;"></td> <td style="width:39px;"></td> <td style="width:78px;"></td> <td style="width:1px;"></td> </tr> </table> <div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2015 and 2014 balances with related parties consisted of the following: </font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:14px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:227px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year ended December 31,</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:14px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#daeef3"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Assets:</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:79px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Working capital advances granted to the Manager (a) </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">460</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">889</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Security deposits to Manager  (a)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,350</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,125</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#daeef3"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Liabilities included in Due to related party:</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Executive service charges due to Manager (d)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">135</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#daeef3"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Administrative service charges due to Manager (e)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">30</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other Partnership expenses due to Manager </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">200</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#e0effc"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total liabilities due to related party, current</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#e0effc"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>230</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>142</b></font></div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:294px;height:10px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Credit financing balance due to Sponsor (c)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">35,000</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#e0effc"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total liabilities due to related party, non-current</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#e0effc"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>35,000</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b></b></font></div></td> </tr> <tr> <td style="width:294px;"></td> <td style="width:36px;"></td> <td style="width:30px;"></td> <td style="width:79px;"></td> <td style="width:42px;"></td> <td style="width:24px;"></td> <td style="width:80px;"></td> </tr> </table> <div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(a) Dynagas Ltd. </b></font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas Ltd.is a company beneficially owned by the Partnership's Chairman. The Manager provides each vessel-owning entity of the Partnership with certain technical and vessel administrative management services in exchange for a daily management fee, pursuant to identical management agreements that initially terminate on December 31, 2020, and which shall, thereafter, automatically be extended in additional eight-year increments if notice of termination is not previously provided by the Partnership's vessel-owning subsidiaries.  The management agreements initially provided for a daily management fee of $2.5. Beginning on the first calendar year after the commencement of the vessel management agreements and each calendar year thereafter, these fees are adjusted upwards by 3% until expiration of the management agreement, subject to further annual increases to reflect material unforeseen costs of providing the management services, by an amount to be agreed between the Partnership and the Manager, which amount will be reviewed and approved by the Partnership's conflicts committee. Under the terms of the management agreements, the Manager charges the Partnership for any additional capital expenditures, financial costs, operating expenses for the vessels and general and administrative expenses of the vessel owning subsidiaries of the Partnership that are not covered by the management fees.  </font></div> <div style="text-align:justify;margin-top:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In each of the years ended December 31, 2015, 2014 and 2013, each vessel was charged with a daily management fee of $2.7, $2.6 and $2.5, respectively.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The management agreements also provide for:</font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;margin-left: 24.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(i) a commission of 1.25% over charter-hire agreements arranged by the Manager and,</font></div> <div style="text-align:justify;margin-left: 24.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(ii) a lump sum new-building supervision fee of $700 for the services rendered by the Manager in respect of the construction of the vessel plus out of pocket expenses. </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The agreements will terminate automatically after a change of control of the owners and/or of the owners' ultimate parent, in which case an amount equal to the estimated remaining fees but in any case not less than for a period of at the least 36 months and not more than 60 months, will become payable to the Manager. As of December 31, 2015, based on the maximum period prescribed in the management agreements and the </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">basic daily fee in effect during the year ended December 31, 2015, such termination fee would be approximately $29.1 million. </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The management agreements also provide for an advance equal to three months daily management fee. In the case of termination of the management agreements, prior to their eight year term, by any reason other than Manager's default, the advance is not refundable. Such advances as of December 31, 2015 and 2014, amounted to $1,350 and $1,125, respectively, and are separately reflected in Non-Current Assets as Due from related party in the accompanying consolidated balance sheets.</font></div> <div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(b) Loan from related party</b></font></div> <div style="text-align:justify;margin-top:6.0px;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On November 18, 2013, upon the completion of its IPO, the Partnership entered into an interest free $30.0 million revolving credit facility with its Sponsor, with an original term of five years from the closing date, to be used for general Partnership purposes, including working capital. The facility may be drawn and be prepaid in whole or in part at any time during the life of the facility. No amounts have been drawn under the respective facility as of December 31, 2015 and 2014.</font></div> <div style="margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(c) Omnibus Agreement </b></font></div> <div style="text-align:justify;margin-top:6.0px;line-height:1.22;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On November 18, 2013, the Partnership entered into an agreement with its Sponsor (the Omnibus Agreement) to govern among other things i) the terms and the extent the Partnership and the Sponsor may compete each other, ii) the procedures to be followed for the exercise of Partnership's options to acquire certain vessels offered by its Sponsor (the Optional Vessels) , iii) certain rights of first offer to the Sponsor for the acquisition of LNG carriers from the Partnership and, iv) Sponsor's provisions of certain indemnities to the Partnership. </font></div> <div style="text-align:justify;line-height:1.22;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;line-height:1.22;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On June 23, 2014 and September 25, 2014, the Partnership completed the drop down of two of these Optional Vessels and acquired, the two sister, 2013 built, ice class, LNG carriers namely <i>Arctic Aurora </i>and <i>Yenisei River</i>, and their respective charters, for an aggregate cash consideration of $492.5 million. The <i>Arctic Aurora</i> and <i>Yenisei River</i> acquisitions from the Partnership's Sponsor were accounted for as common </font></div> <div style="text-align:justify;line-height:1.22;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">control transactions, with the aggregate amount of $88.1 million in excess of the assets' net book value recognized as preferential deemed dividend to the Sponsor (Note 9).</font></div> <div style="text-align:justify;line-height:1.22;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;line-height:1.22;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Under the partnership agreement, the general partner has irrevocably delegated to the Partnership's Board of Directors the power to oversee and direct the operations, manage and determine the strategies and policies of Dynagas Partners. During the period from the IPO in November 2013 until the time of the Partnership's first annual general meeting ("AGM") in October 2014, the General Partner retained the sole power to appoint, remove and replace all members of the Partnership's Board of Directors. From the first AGM, three of the five board members became electable by the common unitholders and as a result, the Partnership no longer accounts for vessel acquisitions from the Sponsor as transfers of equity interests between entities under common control.</font></div> <div style="text-align:justify;line-height:1.22;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;line-height:1.22;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On December 21, 2015, the Partnership completed the third dropdown from its Sponsor and acquired 100% of the ownership interests in the entity that owns and operates the <i>Lena River</i>, a 2013 built 155,000 cubic meter (cbm) ice class LNG carrier, a sister vessel to the <i>Arctic Aurora</i> and the <i>Yenisei River</i>, for an aggregate purchase price of $240.0 million, excluding costs to acquire. As part of this transaction, the Partnership acquired the <i>Lena River</i> and the related time charter. All of the other assets and liabilities relating to the Sponsor entities that owned the respective vessels did not form part of the purchase price and remained with entities associated with the seller entities. Following the Partnership's AGM in October 2014, the respective transaction was no longer accounted for as a common control transaction, instead, the value of the asset and the time charter acquired were accounted for as an asset acquisition. Accordingly, the results of <i>Lena River</i> are consolidated into our results from the date of its acquisition. There has been no retroactive restatement of our financial statements to reflect the historical results of the <i>Lena River</i> prior to its acquisition. </font></div> <div style="text-align:justify;line-height:1.22;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;line-height:1.22;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The acquisition was funded with i) the net proceeds of an underwritten offering of 3,000,000 9.00% Series A Cumulative Perpetual Redeemable Preferred Units (the Series A Preferred Units) concluded in July 2015 (Note 9), ii) approximately $126.3 million from the borrowings under a new $200 million senior term loan facility backed by a group of lenders, with ABN Amro NV acting as agent, dated December 17, 2015 (the $200 Million Term Loan Facility) (Note 5), and iii) cash on hand.  At the closing date of the transaction, the Sponsor provided a $35.0 million interest free credit financing to the Partnership in respect of unsettled amounts in connection with the acquisition, which should be repaid by the Partnership on the first business day falling 180 after the delivery of the vessel or at any earlier date at the Partnership's option. The <i>Lena River</i> acquisition transaction balance due to Sponsor at the balance sheet date was repaid early in 2016, from the $66.7 million remaining available funds under the $200 Million Term Loan Facility, that were fully drawn down at the credit financing repayment date (Notes 5 and 13(a)). The Partnership recognized the respective obligation, in accordance with ASC 470-10-45-14, as Amount due to related party, non-current, in the accompanying consolidated balance sheet of December 31, 2015 on the grounds that the respective balance due has been by fact refinanced after the balance sheet date with the remaining available funds drawn under the $200 Million Term Loan Facility. </font></div> <div style="text-align:justify;line-height:1.22;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;line-height:1.22;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2015, the Partnership still retained the legal right to purchase from its' Sponsor four Optional Vessels, wholly owned by it. Following an amendment to the Omnibus Agreement in April 2016 (Note 13 (g)), the Partnership has also the right, but not the obligation, to acquire from its Sponsor its ownership interest in each of the five entities that each owns a 172,000 cubic meter ARC7 LNG carrier that is currently under construction, or the Additional Optional Vessels. </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(d) Executive Services Agreement </b></font></div> <div style="text-align:justify;margin-top:9.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On March 21, 2014, the Partnership entered into an executive services agreement with its Manager with retroactive effect from the IPO closing date, pursuant to which the Manager provides the Partnership the services of its executive officers, who report directly to the Board of Directors. Under the agreement, the Manager is entitled to an executive services fee of 538 per annum (or $587 on the basis of a Euro/US Dollar exchange rate of 1.0000/$1.0906 at December 31, 2015), payable in equal monthly installments. The agreement has an initial term of five years and automatically renews for successive five year terms unless terminated earlier.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(e) Administrative Services Agreement </b></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On December 30, 2014 and effective as of the IPO closing date, the Partnership entered into an 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 agreement can be terminated upon 120 days' notice granted either by the Partnership's Board of Directors or by Dynagas.</font></div> <div style="text-align:justify;text-indent:0.0px;"></div>

<div style="text-align:justify;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:23px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:23px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(o)</b></i></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:541px;"><div style="text-align:justify;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Concentration of Credit Risk: </b></i>Financial instruments, which potentially subject the Partnership to significant concentrations of credit risk, consist principally of cash and cash equivalents and trade receivables. 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 accounts receivable by performing ongoing credit evaluations of its charterers' financial condition and generally does not require collateral for its accounts receivable.</font></div></td> </tr> </table> <div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the years ended December 31, 2015 and 2014, charterers that individually accounted for more than 10% of the Partnership's revenues were as follows: </font></div> <div style="text-align:center;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:121px;height:21px;"><div style="text-align:center;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Charterer</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:13px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">52</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">36</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">B</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">29</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:13px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; ">C</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:36px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">19</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:13px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:36px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>100</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>100</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>% </b></font></div></td> </tr> <tr> <td style="width:121px;"></td> <td style="width:19px;"></td> <td style="width:36px;"></td> <td style="width:18px;"></td> <td style="width:33px;"></td> <td style="width:39px;"></td> <td style="width:18px;"></td> </tr> </table> <div><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "> </font></div> <div style="line-height:1.15;text-indent:0.0px;"></div>

<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1. Basis of Presentation and General Information: </b></font></div> <div style="margin-top:4.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">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) on the NASDAQ Global Select Market, whereas, on December 29, 2014, the Partnership's common units ceased trading on NASDAQ and, on December 30, 2014, commenced trading on the NYSE. </font></div> <div style="text-align:justify;margin-top:6.0px;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">At the closing of the Offering, the Partnership entered into the following agreements: i) an Omnibus agreement with Dynagas Holding Ltd. (Dynagas Holding or the Sponsor, a company beneficially wholly owned by Mr. George Prokopiou, the Partnership's Chairman and major unitholder and his close family members) that provides the Partnership the right to purchase LNG carrier vessels at a purchase price to be determined pursuant to the terms and conditions contained therein and ii) a $30 million revolving credit facility with the Sponsor to be used for general Partnership purposes (Note 3(b)).</font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Partnership is engaged in the seaborne transportation industry through the ownership and operation of high specification liquefied natural gas (LNG) vessels and is the sole owner of all outstanding shares or units of the following subsidiaries as of December 31, 2015:</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Vessel Owning Subsidiaries: </u></font></div> <div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:184px;height:24px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Company Name </font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Country of incorporation</font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:97px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vessel Name</font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:104px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Delivery Date to Partnership</font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:42px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Year Built</font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Cbm Capacity</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pegasus Shipholding S.A. (Pegasus)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Clean Energy</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">March 2007</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2007</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">149,700</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lance Shipping S.A.</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Lance)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Ob River </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">July 2007</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2007</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">149,700</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Seacrown Maritime Ltd.</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Seacrown)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Amur River <sup>(1)</sup></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">January 2008</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2008</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">149,700</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Fareastern Shipping Limited</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Fareastern)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Malta</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Arctic Aurora </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 2014</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2013</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">155,000</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Navajo Marine Limited</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Navajo)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Yenisei River </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September 2014</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2013</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">155,000</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Solana Holding Ltd. </font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Solana)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lena River</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">December 2015</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2013</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">155,000</font></div></td> </tr> </table> <div align="justify"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000;"> </font></div> <div style="text-align:justify;text-indent:0.0px;"></div> <ol> <li style="text-align: justify;font-family:Times New Roman;font-size:13.3px;color:#000000; "><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Renamed from Clean Force in June 2015.</font></li> </ol><div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Non-Vessel Owning Subsidiaries: </u></font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Arial;font-size:13.3px;color:#000000; "> </font></div> <div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:177px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Company Name </font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Country of incorporation</font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:334px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Purpose of incorporation</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Quinta Group Corp. (Quinta)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Nevis </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Holding company that owns all of the outstanding capital stock of Pegasus.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pelta Holdings S.A. (Pelta)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Nevis </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Holding company that owns all of the outstanding capital stock of Lance.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas Equity Holdings Ltd.(Dynagas Equity)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Liberia </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Holding company that owns all of the outstanding capital stock of Quinta, Pelta, Seacrown, Fareastern, Navajo, Solana and Arctic LNG.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;height:25px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas Operating GP LLC.</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Dynagas Operating GP) </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Limited Liability Company, in which the Partnership holds 100% membership interests and that has 100% of the Non-Economic General Partner Interest in Dynagas Operating LP.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas Operating LP.</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">("Dynagas Operating")</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Limited partnership in which the Partnership holds 100% percentage interests.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;height:34px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas Finance Inc.</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Dynagas Finance) </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Wholly owned subsidiary of the Partnership whose activities are limited to co-issuing the Notes discussed under Note 5 and engaging in other activities incidental thereto.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;height:34px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Arctic LNG Carriers Ltd. (Arctic LNG)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Wholly owned subsidiary of Dynagas Equity that currently has no operations in place nor is it engaged in any other activities. </font></div></td> </tr> </table> <div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The technical, administrative and commercial management of the Partnership's vessels is performed by Dynagas Ltd. (the Manager), a related company, wholly owned by Mr. George Prokopiou, the Partnership's Chairman of the Board of Directors (Note 3(a)).</font></div> <div style="text-align:justify;text-indent:36.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2015, Dynagas Holding owned 44.0% of the outstanding equity interests in the Partnership (excluding the Series A Preferred Units, which, generally, have no voting rights), including the 0.1% General Partner interest retained by it, as the General Partner is owned and controlled by the Partnership's Sponsor.  </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div> <div style="text-align:justify;text-indent:0.0px;"></div>

<div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:285px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="8" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:212px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Year ended December 31,</b></font></div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:285px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:50px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:11px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:59px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>2014</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:11px;"><div style="text-indent:0.0px;"> </div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:12px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:60px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>2013</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:285px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest expense (Note 5)</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:50px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">25,926</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:48px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">13,338</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:12px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:60px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,248</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:285px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Amortization of deferred financing fees</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:50px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,545</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:48px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">785</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,050</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:285px;height:14px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Commitment fees (Note 5)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">15</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:48px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">360</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:60px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">327</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:285px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:50px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">488</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:10px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:48px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">41</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:12px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">107</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:285px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:50px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>27,974</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:10px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:48px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14,524</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:12px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:60px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9,732</b></font></div></td> </tr> <tr> <td style="width:285px;"></td> <td style="width:7px;"></td> <td style="width:50px;"></td> <td style="width:11px;"></td> <td style="width:10px;"></td> <td style="width:48px;"></td> <td style="width:11px;"></td> <td style="width:12px;"></td> <td style="width:60px;"></td> </tr> </table> <div></div> <div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="9" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:276px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year ended December 31,</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:17px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2013</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Partnership's Net income</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">60,050</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50,561</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">45,620</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Less: </b></i></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:72px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Net Income attributable to preferred unitholders</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,019</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;background-color:#d5ecf7"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Net Income attributable to subordinated unitholders</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,028</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">22,170</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:72px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">22,787</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">General Partner's interest in Net Income</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">125</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">68</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">46</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;background-color:#d5ecf7"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net income attributable to common unitholders</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#d5ecf7"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>32,878</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>28,323</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:72px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>22,787</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Weighted average number of common units outstanding, basic and diluted</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">20,505,000</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17,964,288</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,729,521</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:306px;background-color:#d5ecf7"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Earnings per common unit, basic and diluted</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#d5ecf7"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#d5ecf7"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1.60</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:12px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1.58</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:14px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:72px;background-color:#d5ecf7"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2.95</b></font></div></td> </tr> <tr> <td style="width:306px;"></td> <td style="width:3px;"></td> <td style="width:9px;"></td> <td style="width:63px;"></td> <td style="width:12px;"></td> <td style="width:18px;"></td> <td style="width:64px;"></td> <td style="width:14px;"></td> <td style="width:17px;"></td> <td style="width:72px;"></td> <td style="width:3px;"></td> </tr> </table> <div></div>

<div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 260.0px;pt;border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:412px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Period/ Year ending December 31,</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:129px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:45px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Amount</b></font></div></td> </tr> <tr> <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:412px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2016</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:129px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,000</font></div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:412px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2017</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,162</font></div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:412px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2018</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,347</font></div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:412px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2019</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,537</font></div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:412px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2020</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,752</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:412px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>31,798</b></font></div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:129px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:38px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td style="width:412px;"></td> <td style="width:129px;"></td> <td style="width:7px;"></td> <td style="width:38px;"></td> </tr> </table> <div></div> <div style="text-align:center;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 258.7px;pt;border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:376px;height:28px;"><div style="text-align:center;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Year ending December 31,</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:51px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Amount</b></font></div></td> </tr> <tr> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:376px;height:7px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2016</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:109px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:43px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">178,590</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2017</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">147,211</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2018</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:43px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">79,791</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2019</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,273</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2020</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:43px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,339</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Thereafter</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">176,425</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:376px;height:7px;background-color:#daeef3"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:43px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>630,629</b></font></div></td> </tr> <tr> <td style="width:376px;"></td> <td style="width:109px;"></td> <td style="width:8px;"></td> <td style="width:43px;"></td> </tr> </table> <div></div>

<div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:115px;height:24px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Year ending December 31,</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:245px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:185px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:9.3px;color:#000000; "><b>Amount</b></font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:115px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2016</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:245px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:166px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:38px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,267</font></div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2017</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:245px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:166px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,247</font></div></td> </tr> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:115px;background-color:#daeef3"><div style="text-align:justify;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2018</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:245px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:166px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:38px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">5,268</font></div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:115px;"><div style="text-align:justify;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:245px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:166px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:38px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:115px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:245px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:166px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>19,782</b></font></div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:245px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:166px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:38px;"><div style="text-indent:0.0px;"> </div></td> </tr> <tr> <td style="width:115px;"></td> <td style="width:245px;"></td> <td style="width:166px;"></td> <td style="width:18px;"></td> <td style="width:19px;"></td> <td style="width:25px;"></td> </tr> </table> <div></div>

<div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:14px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:227px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year ended December 31,</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:14px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#daeef3"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Assets:</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:79px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Working capital advances granted to the Manager (a) </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">460</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">889</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Security deposits to Manager  (a)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,350</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,125</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#daeef3"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Liabilities included in Due to related party:</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Executive service charges due to Manager (d)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">135</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#daeef3"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Administrative service charges due to Manager (e)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:30px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">30</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other Partnership expenses due to Manager </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">200</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#e0effc"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total liabilities due to related party, current</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#e0effc"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>230</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>142</b></font></div></td> </tr> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:294px;height:10px;"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Credit financing balance due to Sponsor (c)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">35,000</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:294px;height:10px;background-color:#e0effc"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total liabilities due to related party, non-current</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#e0effc"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>35,000</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;background-color:#e0effc"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b></b></font></div></td> </tr> <tr> <td style="width:294px;"></td> <td style="width:36px;"></td> <td style="width:30px;"></td> <td style="width:79px;"></td> <td style="width:42px;"></td> <td style="width:24px;"></td> <td style="width:80px;"></td> </tr> </table> <div></div>

<div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="7" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:298px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year ended December 31,</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:14px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2013</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Included in voyage expenses</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Charter hire commissions (a) </font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,821</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,363</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:80px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,011</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;background-color:#daeef3"><div style="margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Included in general and administrative expenses </b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Executive services fee (d)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">599</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">803</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Administrative services fee (e)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">120</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">134</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Management fees-related party </b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:231px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Management fees (a)</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4,870</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,566</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td> <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,737</font></div></td> </tr> <tr> <td style="width:231px;"></td> <td style="width:28px;"></td> <td style="width:24px;"></td> <td style="width:62px;"></td> <td style="width:33px;"></td> <td style="width:19px;"></td> <td style="width:63px;"></td> <td style="width:39px;"></td> <td style="width:78px;"></td> <td style="width:1px;"></td> </tr> </table> <div></div>

<div style="text-align:justify;margin-top:13.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Recent Accounting Pronouncements:</b></font></div> <div style="text-align:justify;margin-top:13.0px;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2014-15: In August 2014, FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern. ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 requires an entity's management to evaluate at each reporting period based on the relevant conditions and events that are known at the date when financial statements are issued, whether there are conditions or events, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and to disclose the necessary information. The guidance is effective for annual periods ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. Management is in the process of assessing the impact of the new standard on the Partnership's consolidated financial position and performance.</font></div> <div style="text-align:justify;margin-top:13.0px;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2015-06: In April 2015, the FASB issued ASU 2015-06, Effects of Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions. The amendments in this Update specify that for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business for periods before the date of a dropdown of net assets accounted for as a common control transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method also are required. The amendments in this Update are effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted. An entity must apply the new guidance on a retrospective basis. The adoption of this standards update is not expected to have a material effect on the Partnership's future or historical financial position, results of operations or cash flows, to the extent that no drop down of a transferred business occurs. </font></div> <div style="text-align:justify;margin-top:13.0px;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2015-11<i><b>: </b></i>In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. ASU 2015-11 simplifies the subsequent measurement of inventory by replacing today's lower of cost or market test with a lower of cost and net realizable value test. The guidance applies only to inventories for which cost is determined by methods other than last-in first-out (LIFO) and the retail inventory method (RIM). Entities that use LIFO or RIM will continue to use existing impairment models. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted, and the new guidance must be applied prospectively after the date of adoption.  Management is in the process of assessing the impact of the new standard on the Partnership's consolidated financial position and performance.</font></div> <div style="text-align:justify;margin-top:13.0px;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2015-14:  In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which will supersede the current revenue recognition guidance and outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The ASU 2014-09 was amended by ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, which was issued in August 2015. Public entities can now elect to defer implementation of ASU 2014-09 to interim and annual periods beginning after December 15, 2017. Additionally, ASU 2015-14 permits early adoption of the standard but not before the original effective date, i.e. annual period beginning after December 15, 2016. The standard permits the use of either the retrospective or cumulative effect transition method. Based on current circumstances, the adoption of this new standard is not expected to have a material effect on the Partnership's future or historical financial position, results of operations or cash flows. The Partnership will evaluate the impact that ASU 2014-09 might have on its future consolidated financial statements, if relevant circumstances arise.</font></div> <div style="text-align:justify;margin-top:12.0px;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2016-01: In January 2016, the FASB issued ASU 2016-01, Financial Instruments- Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this Update affect all entities that hold financial assets or owe financial liabilities and address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. More precisely, the amendments in this Update i) require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee), ii) an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, iii) eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement for to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities, iv) require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes and v) require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. The amendments to the FASB Accounting Standards Codification prescribed in this Update are not expected to have a material effect on the Partnership's future financial position.</font></div> <div style="text-align:justify;margin-top:12.0px;text-indent:29.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASU 2016-02: In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) which provides new guidance related to accounting for leases and supersedes existing U.S. GAAP on lease accounting. </font><font style="font-family:Times New Roman;font-size:13.3px;color:#29292a; ">The ASU will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases, unless the lease is a short term lease.</font></div> <div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#29292a; ">Lessee accounting: A short term lease is defined in the ASU as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain<i> </i>to exercise.  The lease term is defined as the non-cancellable period for which a lessee has the right to use an underlying asset, together with all of the following: periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option; periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option; and periods covered by an option to extend (or not to terminate) the lease in which exercise of the option is controlled by the lessor.</font></div> <div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#29292a; ">For short term leases, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term.</font></div> <div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#29292a; ">Leases not considered short term<b> - </b>For <u>all</u> other leases, the lessee will be required to recognize the following at the commencement date of the lease: (1) a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. When measuring assets and liabilities arising from a lease, a lessee (and a lessor) should include payments to be made in optional periods <u>only</u> if the lessee is reasonably certain to exercise an option to extend the lease.  Similarly, optional payments to purchase the underlying asset should be included in the measurement of lease assets and lease liabilities only if the lessee is reasonably certain to exercise that purchase option. Reasonably certain is a high threshold that is consistent with and intended to be applied in the same way as the reasonably assured threshold in the current leases guidance. In addition, a lessee (and a lessor) should exclude most variable lease payments in measuring lease assets and lease liabilities, other than those that depend on an index or a rate or are in substance fixed payments.</font></div> <div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#29292a; ">Consistent with current guidance, the recognition, measurement, and presentation in the statements of income and cash flows will depend on the lease's classification as finance or operating lease. For finance leases, a lessee is required to recognize interest on the lease liability separately from amortization of the right-of-use asset in the statement of income; and classify repayments of the principal portion of the lease liability within financing activities and payments of interest on the lease liability and variable lease payments within operating activities in the statement of cash flows. For operating leases, a lessee is required to recognize a single lease cost in the statement of income (which will include both the amortization of the right-of-use asset and the interest element associated with the lease liability), calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis; and classify all cash payments within operating activities in the statement of cash flows.</font></div> <div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#29292a; ">Lessor accounting: Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, <i>Revenue from Contracts with Customers</i>.</font></div> <div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#29292a; ">Public business entities should apply the amendments in ASU 2016-02 for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted for all public business entities and all nonpublic business entities upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The adoption of this new standard is not expected to have a material effect on the Partnership's future or historical financial position, results of operations or cash flows.</font></div> <div style="margin-top:13.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="margin-top:13.0px;text-indent:0.0px;"></div>

<div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(v)</b></i></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:540px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Accounting for Financial Instruments: </b></i>The principal financial assets of the Partnership consist of cash and cash equivalents, restricted cash, amounts due from related parties and trade receivables, net. The principal financial liabilities of the Partnership consist of trade and other payables, accrued liabilities, long-term debt and amounts due to related parties. The Partnership may also consider from time to time entering into interest rate swap agreements to manage its exposure to fluctuations of interest rate risk associated with its borrowings Derivative financial instruments are generally used to manage risk related to fluctuations of interest rates. ASC 815, Derivatives and Hedging, requires all derivative contracts to be recorded at fair value, as determined in accordance with ASC 820, Fair Value Measurements and Disclosures (Note 6). The changes in fair value of a derivative contract are recognized in earnings unless specific hedging criteria are met. At the inception of a hedge relationship, the Partnership formally designates and documents the hedge relationship to which the Partnership wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument's effectiveness in offsetting exposure to changes in the hedged item's cash flows attributable to the hedged risk. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed on an ongoing basis to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated. All derivatives are recorded on the balance sheet as assets or liabilities and measured at fair value. For derivatives designated as cash flow hedges, the effective portion of the changes in fair value of the derivatives is recorded in Accumulated Other Comprehensive Income/ (Loss) and subsequently recognized in earnings when the hedged items impact earnings.</font></div></td> </tr> </table> <div></div>

<div style="text-align:center;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="bottom" style=" border:solid #000000 0.0px;width:121px;height:21px;"><div style="text-align:center;margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Charterer</b></font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:center;text-indent:0.0px;"> </div></td> <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:13px;background-color:#daeef3"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:36px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">52</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">36</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:10px;"><div style="margin-left: 16.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:-16.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">B</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">29</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:13px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; ">C</font></div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;background-color:#daeef3"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:36px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">19</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:39px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;background-color:#daeef3"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:121px;height:13px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:36px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>100</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">% </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;"> </div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:39px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>100</b></font></div></td> <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>% </b></font></div></td> </tr> <tr> <td style="width:121px;"></td> <td style="width:19px;"></td> <td style="width:36px;"></td> <td style="width:18px;"></td> <td style="width:33px;"></td> <td style="width:39px;"></td> <td style="width:18px;"></td> </tr> </table> <div></div>

<div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(k)</b></i></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:539px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Impairment of Long-Lived Assets: </b></i>The Partnership follows ASC 360-10-40 Impairment or Disposals of Long-Lived Assets, which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. The standard requires that long-lived assets held and used by an entity be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. When the estimate of undiscounted projected operating cash flows, excluding interest charges, expected to be generated by the use of the asset is less than its carrying amount, the Partnership evaluates the asset for an impairment loss. Measurement of the impairment loss is based on the fair value of the asset. The fair values are determined through Level 2 inputs of the fair value hierarchy as defined in ASC 820 Fair value measurements and disclosures based on management's estimates and assumptions and by making use of available market data and taking into consideration third party valuations and other market observable data that allow value to be determined. The Partnership reviews its long-lived assets for impairment whenever events or changes in circumstances, such as undiscounted projected operating cash flows, business plans to dispose a vessel earlier than the end of its useful life and prevailing market conditions, indicate that the carrying amount of the assets may not be recoverable. The Partnership determines undiscounted projected net operating cash flows, for each vessel and compares it to the vessel's carrying value. In developing estimates of future cash flows, the Partnership must make assumptions about future charter rates, vessel operating expenses, fleet utilization, and the estimated remaining useful life of the vessels. These assumptions are based on historical trends as well as future expectations. The projected net operating cash flows are determined by considering the charter revenues from existing time charters for the fixed fleet days and an estimated charter rate for the unfixed days. Expected outflows for scheduled vessels' maintenance and vessel operating expenses are based on historical data, and adjusted annually assuming an average annual inflation rate prevailing at the time of test. An estimate is also applied to effective fleet utilization, taking into account the period(s) each vessel is expected to undergo her scheduled maintenance (dry-docking and special surveys) and vessels loss of hire from repositioning or other conditions. Estimates for the remaining estimated useful lives of the current fleet and scrap values are identical with those employed as part of the Partnership's depreciation policy. As of December 31, 2015, 2014 and 2013, the Partnership concluded that there were no events or changes in circumstances indicating that the carrying amount of its vessels may not be recoverable and accordingly no impairment loss was recorded for these years.</font></div></td> </tr> </table> <div></div>

<div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"> </div></td> <td valign="top" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(j)</b></i></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:539px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Vessels, Net: </b></i>Vessels are stated at cost, which consists of the contract price and any material expenses incurred upon delivery (initial repairs, improvements and delivery expenses, capitalized interest and on-site supervision costs incurred during the construction periods). Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels; otherwise these amounts are charged to expense as incurred. The cost of each of the Partnership's vessels is depreciated beginning when the vessel is ready for her intended use, on a straight-line basis over the vessel's remaining economic useful life, after considering the estimated residual value. With effect from October 1, 2014, the Partnership revised its' initial scrap rate estimate from an average fleet scrap rate of $0.717 per lightweight ton (or a vessel specific of 12% of the initial vessel cost) to $0.685 per lightweight ton per LNG carrier and that change in estimate is expected to decrease the Partnership's net income in future periods. Management estimates the useful life of the Partnership's vessels to be 35 years from the date of initial delivery from the shipyard. Secondhand vessels are depreciated from the date of their acquisition through their remaining estimated useful life. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted.</font></div></td> </tr> </table> <div></div> <div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="middle" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div><div style="text-indent:0.0px;"></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(i)</b></i></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:539px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Insurance Claims: </b></i>The Partnership records insurance claim recoveries for insured losses incurred on damage to fixed assets, loss of hire and for insured crew medical expenses. Insurance claim recoveries are recorded, net of any deductible amounts, at the time the Partnership's vessels suffer insured damages or when crew medical expenses are incurred, when recovery is probable under the related insurance policies, the Partnership can make an estimate of the amount to be reimbursed following submission of the insurance claim and when the claim is not subject to litigation. </font></div></td> </tr> </table> <div></div>

<div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:177px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Company Name </font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Country of incorporation</font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:334px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Purpose of incorporation</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Quinta Group Corp. (Quinta)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Nevis </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Holding company that owns all of the outstanding capital stock of Pegasus.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pelta Holdings S.A. (Pelta)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Nevis </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Holding company that owns all of the outstanding capital stock of Lance.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas Equity Holdings Ltd.(Dynagas Equity)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Liberia </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Holding company that owns all of the outstanding capital stock of Quinta, Pelta, Seacrown, Fareastern, Navajo, Solana and Arctic LNG.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;height:25px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas Operating GP LLC.</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Dynagas Operating GP) </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Limited Liability Company, in which the Partnership holds 100% membership interests and that has 100% of the Non-Economic General Partner Interest in Dynagas Operating LP.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas Operating LP.</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">("Dynagas Operating")</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Limited partnership in which the Partnership holds 100% percentage interests.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;height:34px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dynagas Finance Inc.</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Dynagas Finance) </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Wholly owned subsidiary of the Partnership whose activities are limited to co-issuing the Notes discussed under Note 5 and engaging in other activities incidental thereto.</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:177px;height:34px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Arctic LNG Carriers Ltd. (Arctic LNG)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:334px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Wholly owned subsidiary of Dynagas Equity that currently has no operations in place nor is it engaged in any other activities. </font></div></td> </tr> </table> <div></div> <div style="text-indent:0.0px;"></div> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"> <tr> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:184px;height:24px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Company Name </font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Country of incorporation</font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:97px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vessel Name</font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:104px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Delivery Date to Partnership</font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:42px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Year Built</font></div></td> <td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Cbm Capacity</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pegasus Shipholding S.A. (Pegasus)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Clean Energy</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">March 2007</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2007</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">149,700</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lance Shipping S.A.</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Lance)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Ob River </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">July 2007</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2007</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">149,700</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Seacrown Maritime Ltd.</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Seacrown)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Amur River <sup>(1)</sup></font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">January 2008</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2008</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">149,700</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Fareastern Shipping Limited</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Fareastern)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Malta</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Arctic Aurora </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 2014</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2013</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">155,000</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Navajo Marine Limited</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Navajo)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Yenisei River </font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September 2014</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2013</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">155,000</font></div></td> </tr> <tr> <td valign="top" style=" border:solid #000000 0.0px;width:184px;height:24px;background-color:#daeef3"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Solana Holding Ltd. </font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(Solana)</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:116px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Marshall Islands</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:97px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lena River</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:104px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">December 2015</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:42px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2013</font></div></td> <td valign="top" style=" border:solid #000000 0.0px;width:85px;background-color:#daeef3"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">155,000</font></div></td> </tr> </table> <div align="justify"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000;"> </font></div> <div style="text-align:justify;text-indent:0.0px;"></div> <ol> <li style="text-align: justify;font-family:Times New Roman;font-size:13.3px;color:#000000; "><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Renamed from Clean Force in June 2015.</font></li> </ol><div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "></font></div> <div style="text-align:justify;margin-left: 72.0px;text-indent:-24.0px;"></div>

30000

150000

4 172000 ARC7 LNG carrier 5

0.49

The terms and conditions of the New Yenisei River Charter are identical with the New Lena River Charter Yamal the right but not the obligation to extend the term of the charter for three consecutive periods of up to five years

P15Y

between January 1, and December 31, 2019 between July 1, 2019 and June 30, 2020

P10Y

240000000 492500000 7077000 416000 35000000 December 2015

66660000

66650000

575000000

133333000

72300000

68800000

1560000

66700000

P13Y

66700000

220000000

35000000

3000000

35000000

999999999 999999999

404530000

220661000

2016-02-05 2016-02-12

0.5625

2016-02-05 2016-02-12

15000000

0.4225

5000000

340000000

P180D

3000000

72297000

11909000

16813000

23244000

0.3

0.12

P2Y6M P5Y

35000000

P2Y9M18D

220661000

218000

688333000

567507000 680285000

126300000

P5Y

2500000

25000000

20000000

24000000

2019-10-30

7493000 8048000

quarterly

3450000

44000

130000

2015-11-12 2015-11-05 2015-11-12 2015-08-13 2015-05-12 2015-02-12

0.4225

15000000

2015-11-05 2015-08-06 2015-05-05 2015-02-05

0.09

2700000

8900000

136900000

148500000

126000

600000

4700000

120500000

300000

2400000

720000 5520000 1875000 4250000 8250000

5268000

7247000

7267000

35000000

72446000

3000000

73216000

2100000

3019000

3000000

73216000

31 0.548 0.548 0.456 0.456 0.42 0.42 0.365

20000000

96000

7500000

100000000

200000000

quarterly

LIBOR

1560000

68800000

0.024

30000

104000

133333000

587000

0.09

35000000

1011000

2013 155000 December 2015

218000

0 0 3019000

19782000

88122000 2500 152000

125000

24028000 32878000

60050000

460000

75175000

51793000

23278000

24028000

32878000

125000

14985000

20505000

35526

14985000

20505000

35526

5520000

5526

14985000

6735000

-8427000

302954000

95000

62207000

25324000

34653000

130000

-7131000

304729000

100000

88122000 84483000 3439000 200000

43010000

19398000

23568000

44000

120570000

120444000

126000

22170000

28323000

68000

257699000

74580000

182969000

136904000

22787000

46000

8250000

298800000

As of December 31, 2015, the Partnership was in compliance with all financial covenants prescribed in its debt agreements.

2021-03-31

305000000

0.0625

250000000

325000000

P120D P5Y P5Y 1 December 31, 2020 P60M P36M

230000

142000

7000

200000

30000

135000

1125000

1350000

889000

134000

120000

803000 599000

1363000

1821000

0.1

During the years ended December 31, 2015 and 2014, charterers that individually accounted for more than 10% of the Partnership's revenues were as follows

0.44

0.001

30000000

155000 155000 149700 149700 149700 2007 July 2007 2007 March 2007 2013 2013 2008 September 2014 June 2014 January 2008

357000

-9000

178000

250000

-94000

-118000

-190000

103000

-29000

201000

-103000

244900000

8248000

13338000

25926000

172500000

5500000

-5500000

2.95

1.58

1.6

1050000

785000

1545000

29100000

17822000

453175000

87279000

540454000

214100000

719000 0 937000

The Notes bear interest from the date of the original issue until maturity at a rate of 6.25% per year, payable quarterly in arrears on January 30, April 30, July 30 and October 30 of each year.

0.001

30000

200000000

LIBOR

10000

Initial term of five years and automatically renews for successive five year terms unless terminated earlier. 0

250000000

630629000

538000

5526

891000

176425000

24339000

24273000

79791000

147211000

178590000

250000000

685 717 perpetual

340000000

205000000

120000000

245000

1.0906

1350000

2600

95000

-8427000 302954000

404530000

205045000

357000

348000

43010000

62207000

0 88122000 0 0 126000 0

1938000

65000

DLNG P5Y 0 0 0.499 0.249 0.149 0.5 0.75 0.85 0.999 0.999

2700

45620000

50561000

737000

610000

20505000 20505000 No 22787000 28323000 7729521 17964288 20505000 20505000 20505000 304729000 1094000 1429000 35526 14985000 20505000

35526

14985000 15

13579000

17822000

24387000

Accelerated Filer Yes No --12-31 FY 2015 false 2015-12-31 20-F 0001578453 Dynagas LNG Partners LP 0.001 0.001 0.001 0.001 0.001

327000

360000

15000

270000 42

41000

488000

107000

7883000 0.03 31798000 6752000 6537000 6347000 6162000 6000000

0.038

0.045

278334000

28333000

1036157000

129488000

1165645000

24387000

839883000

105101000

944984000

0.03 700000 0.0125 The agreements will terminate automatically after a change of control of the owners and/or of the owners' ultimate parent, in which case an amount equal to the estimated remaining fees but in any case not less than for a period of at the least 36 months and not more than 60 months, will become payable to the Manager. 8 years

0.14

0.19

0.5

0.29

0.36

0.52

P35Y

-2116000 2403000 8104000

970000

6626000

2062000

380715000

229085000

20000000

1000000

2000000

15227000

608000

2065000

-4245000

63000

292000 278000 -5450000

1808000

310000

-3156000

-68000

2636000

-1081000

96944000

76443000

44204000

-205045000

-404530000

120514000

138800000

133333000

590000000

214085000

120445000

334359000

-38527000

12344000

6272000

5677000

25798000

10724000

9487000

2737000 3566000 4870000

387000

1014000

1086000

1011000 1363000 1821000 675000 910000 983000

9732000

14524000

27974000

85679000

46000

22787000

-9761000

55381000

107088000

68000

22170000

-14102000

221000

64663000

145202000

-28042000

35000

88092000

11949000

879883000

297698000

100000

-7131000

549352000

547923000

32833000

7022000

3716000

142000

2369000

19584000

879883000

1125000

943000

24000000

839883000

13932000

889000

103000

24293000

1108103000

367838000

688912000

652818000

51353000

15126000

3595000

230000

4935000

27467000

1108103000

25000000

1036157000

25814000

35526

14985000 14985000 14985000