Capital Product Partners L.P. Announces the Sale of Three 10,000 TEU Container Vessels
ATHENS, Greece, March 20, 2024 (GLOBE NEWSWIRE) -- Capital Product Partners L.P. (NASDAQ:CPLP), an international owner of ocean-going vessels, today announced that the Partnership entered into a memorandum of agreement for the sale of three 10,000 TEU container vessels, built in 2011 at Samsung Heavy Industries, S. Korea: the M/V Athos, the M/V Aristomenis and the M/V Athenian. Delivery of the vessels to the buyer is expected in April 2024.
On November 13, 2023, as part of the transformative acquisition of 11 newbuild LNG carriers for $3.1 billion, the Partnership announced its focus on LNG carriers and energy transition shipping, and its intention to divest from non-core container vessels. With the recently completed sale of the M/V Akadimos (115,534 DWT / 9,300 TEU, Eco-Flex, Wide Beam container vessel, built 2015, Daewoo-Mangalia Heavy Industries S.Α., Romania), which was delivered to its new owners on March 8, 2024, the Partnership has completed the sale of two container vessels and has agreed to sell two Panamax container vessels and three Neo-Panamax container vessels. Total expected gross cash proceeds from the sale of the seven container vessels are estimated at approximately $272.5 million or $182.5m after repaying outstanding debt.
About Capital Product Partners L.P.
Capital Product Partners L.P. (NASDAQ:CPLP), a Marshall Islands limited partnership, is an international owner of ocean-going vessels. CPLP currently owns 22 high specification vessels, including nine latest generation LNG/Cs, 11 Neo-Panamax container vessels and two Panamax container vessels. CPLP has agreed to sell two Panamax container vessels and three Neo-Panamax container vessels by the second quarter of 2024. In addition, CPLP has agreed to acquire nine additional latest generation LNG/Cs delivering between the second quarter of 2024 and the first quarter of 2027.
For more information about the Partnership, please visit: www.capitalpplp.com.
Forward-Looking Statements
The statements in this press release that are not historical facts may be forward-looking statements (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). These forward-looking statements involve risks and uncertainties that could cause the stated or forecasted results to be materially different from those anticipated. Unless required by law, we expressly disclaim any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in our views or expectations, to conform them to actual results or otherwise. We assume no responsibility for the accuracy and completeness of the forward-looking statements. We make no prediction or statement about the performance of our common units.
CPLP-F
Contact Details:
Capital GP L.L.C.
Jerry Kalogiratos
CEO
Tel. +30 (210) 4584 950
E-mail: [email protected]
Capital GP L.L.C.
Nikos Kalapotharakos
CFO
Tel. +30 (210) 4584 950
E-mail: [email protected]
Investor Relations / Media
Nicolas Bornozis
Capital Link, Inc. (New York)
Tel. +1-212-661-7566
E-mail : [email protected]
Source: Capital Product Partners L.P.
