Capital Product Partners L.P. (NASDAQ: CPLP), an international owner of ocean-going vessels, on Tuesday (Apr 20) announced the sale of two 9,288 TEU container vessels.

Capital Product Partners L.P. Announces the Sale of Two 9,288 TEU Container Vessels
Caption: Containership CMA CGM Magdalena - Image courtesy of Barci

The Partnership has entered into a memorandum of agreement for the sale of the M/V CMA CGM Magdalena (115,639 dwt / 9,288 TEU, Eco-Flex, Wide Beam Containership built 2016, Daewoo-Mangalia Heavy Industries S.Α.) and the M/V Adonis (115,145 dwt / 9,288 TEU, Eco-Flex, Wide Beam Containership built 2015, Daewoo-Mangalia Heavy Industries S.Α.) to an unaffiliated third party for a total consideration of $195.0 million. 

Delivery of the M/V 'CMA CGM Magdalena' and the M/V ‘Adonis' to their buyer is expected in May and July/August 2021, respectively. The carrying value of M/V ‘Adonis' and the M/V 'CMA CGM Magdalena' at the end of the first quarter of 2021 was $72.7 million and $71.7 million, respectively. 

The Partnership expects gross cash proceeds from the sale after repaying outstanding debt of approximately $97.6 million.

Source: Capital Product Tankers