28780 members and growing – the largest networking group in the maritime industry!


Wednesday, August 12, 2020

Maritime Logistics Professional

June 16, 2015

Capital Product Partners Tankers get Contracts

Image: Capital Product Partners

Image: Capital Product Partners

 Capital Product Partners (CPP) has taken delivery of a new panamax containership, which will commence a five-year timecharter to CMA CGM. It also has won a timecharter from Cargill, and another two have had their charters to Capital Maritime extended.

The NASDAQ-listed company has announced the successful acquisition of the MV 'Akadimos,' as well as new time charter employment for the MT 'Active' and MT 'Anemos I' and a charter extension for the MT 'Atrotos,' each at increased day rates.
The Akadimos (9,288 teu) was delivered to CPP from the Romania’s Daewoo-Mangalia Heavy Industries shipyard on June 10 and will begin its timecharter to CMA CGM for $39,250 daily.
The vessel is the first of three 9,160-teu ‘eco-flex’ containership newbuildings purchased in April from CPP’s sponsor, Capital Maritime & Trading Corp. The two other vessels will be delivered in August and November this year, and will also each commence five-year timecharters to CMA CGM.
CPP’s new tanker Active (50,000 dwt, built 2015) has been fixed on a two-year timecharter to Cargill for $17,700 daily. The company bought the vessel in April from its sponsor Capital Maritime & Trading Corp for $33.5m.
Capital Maritime has extended its existing timecharter of CPP’s tanker Anemos I (47,782 dwt, built 2007) by another year at a gross rate of $17,250 per day. This is an increase on the gross $14,850 per day fixed in the current charter, which expires in mid-June.
CPP’s sister company Capital Maritime has also extended its timecharter of the MR tanker Atrotos (47,786 dwt, built 2007) for another year at a gross daily rate of $15,250, which is $500 per day more than the current rate. The new charter expires in April next year.
As a result of the above charter renewals, the Partnership's charter coverage for 2015 and 2016 increased to 95% and 72%, respectively.
Further to the Master Vessel Acquisition Agreement, the Partnership expects to acquire an additional three vessels from Capital Maritime, which comprise two newbuild 9,288 teu, eco-flex, wide beam containerships under construction at Daewoo-Mangalia Heavy Industries S.A. with expected deliveries in August and November 2015 and an additional eco MR product tanker under construction at Samsung Heavy Industries (Nigbo) Co. Ltd. with expected delivery at the end of June 2015. 
Capital Product Partners, a Marshall Islands master limited partnership, is an international owner of modern tanker, container and drybulk vessels. The Partnership currently owns 32 vessels, including four Suezmax crude oil tankers, 19 modern MR (Medium Range) product tankers, eight post panamax container vessels and one Capesize bulk carrier. 
bulk carrierCapital Maritime & Trading Corp.Capital Product Partners