Capital Product Partners L.P. Announces the Acquisition of One LNG Carrier, the Acquisition of Three 13,278 TEU Container Vessels and the Sale of Two 8,266 TEU Container Vessels
- The acquisition of one 174,000 cubic meter (“cbm”) latest generation X-DF LNG carrier (“LNG/C”) and three 13,278 TEU hybrid scrubber-fitted, latest generation eco container vessels, all with long term charters attached, for total consideration of
$597.5 million; and
- The sale of two 8,266 TEU container vessels, namely the M/V Archimidis and the M/V Agamemnon, for total consideration of
Acquisition of One 174,000 cbm LNG/C & Three 13,278 TEU Container Vessels
The Partnership today announced that it has agreed to exercise its right of first offer and acquire one 174,000 cbm latest generation X-DF LNG/C and three 13,278 TEU hybrid scrubber-fitted Tier III and Phase III, dual fuel ready eco container sister vessels from
The LNG/C, to be named “Asterix I”, is currently under construction by Hyundai Heavy Industries Co. Ltd.,
The three 13,278 TEU eco container sister vessels, to be named “Manzanillo Express”, “Itajai Express” and “Buenaventura Express”, are currently under construction by
The total consideration for the four vessels amounts to
Sale of Two 8,266 TEU Container Vessels
“We are very pleased to announce today two important transactions for the Partnership. The divestment of our two oldest container vessels allows the Partnership to benefit from the historically high container market and is in line with our strategy of divesting older vessels. At the same time, we are replacing a sixteen- and a fifteen-year-old vessel, both of which have less than two years remaining charter duration, and redeploying the equity released from the sale into four brand new, latest generation LNG and container carriers with firm charters in place of minimum 8.8 years duration and
The transaction was negotiated and unanimously approved by the conflicts committee of the Board of Directors (“Committee”) and was also unanimously approved by the full Board of Directors.
Cautionary Note on Estimated Revenue and Other Forward-Looking Statements
The statements in this press release that are not historical facts, including, among other things, estimated revenue over the firm periods of the charters, are 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.
For a discussion of factors that could materially affect the outcome of forward-looking statements, including estimated revenue set out above, and other risks and uncertainties, see “Risk Factors” in CPLP’s annual report filed with the SEC on Form 20-F.
Unless required by law, CPLP expressly disclaims any obligation to update or revise any of these forward-looking statements (including estimated revenue under the charters), whether because of future events, new information, a change in its views or expectations, to conform them to actual results or otherwise. CPLP does not assume any responsibility for the accuracy and completeness of the forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements.
For more information about the Partnership, please visit: www.capitalpplp.com.
Tel. +30 (210) 4584 950
Tel. +30 (210) 4584 950
Investor Relations / Media
Source: Capital Product Partners, L.P.