Capital Product Partners L.P. (NASDAQ:CPLP) (the 'Partnership'), an international diversified shipping company, announced Friday that it has secured new time charter employment for four of its vessels.
- 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%.
Source: CPLP