Capital Product Partners L.P. (NASDAQ:CPLP) (the 'Partnership'), an international diversified shipping company, has secured new time charter employment for four of its vessels, the company said in its press release.
The M/T 'Alexandros II' (51,258 dwt, IMO II/III Chemical/ Product Tanker built 2008, STX Offshore & Shipbuilding Co., Ltd, South Korea), the M/T ‘Aristotelis II’ (51,226 dwt, IMO II/III Chemical/ Product Tanker built 2008, STX Offshore & Shipbuilding Co., Ltd, South Korea), the M/T ‘Aris II’ (51,218 dwt, IMO II/III Chemical/ Product Tanker built 2008, STX Offshore & Shipbuilding Co., Ltd, South Korea) and the M/T ‘Ayrton II’ (51,260 dwt, IMO II/III Chemical/ Product Tanker built 2009, STX Offshore & Shipbuilding Co., Ltd, South Korea), have secured employment with Petróleo Brasileiro S.A. (‘Petrobras’) for two years (+/- 30 days) at a gross daily rate of $14,700. Petrobras has the option to extend the respective time charters for an additional eleven months (+/-30 days) at $14,850 per day. The new charters are subject to vetting inspections of each vessel and are expected to commence in the third quarter of 2018.
As a result of the above employments, the Partnership’s charter coverage for 2018 has increased to 70%.
About Capital Product Partners L.P.
Capital Product Partners L.P. (NASDAQ:CPLP), a Marshall Islands master limited partnership, is an international owner of tanker, container and drybulk vessels. The Partnership currently owns 37 vessels, including twenty-one modern MR (Medium Range) product tankers, four Suezmax crude oil tankers, one Aframax crude/product oil tanker, ten Neo Panamax container vessels and one Capesize bulk carrier. Its vessels trade predominantly under period charters.