Capital Product Partners L.P. Announces the Sale of Three 10,000 TEU Container Vessels
March 20 2024 - 8:00AM
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
KalogiratosCEOTel. +30 (210) 4584 950 E-mail:
j.kalogiratos@capitalpplp.com
Capital GP L.L.C.Nikos
KalapotharakosCFOTel. +30 (210) 4584 950 E-mail:
n.kalapotharakos@capitalmaritime.com
Investor Relations /
MediaNicolas BornozisCapital Link, Inc. (New York)Tel.
+1-212-661-7566E-mail : cplp@capitallink.comSource: Capital Product
Partners L.P.
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