Capital Product Partners L.P. Announces One Year Time Charter for M/T Avax With
ATHENS, GREECE -- (Marketwired) -- 10/21/13 -- Capital Product
Partners L.P. (NASDAQ: CPLP) today announced the successful
chartering of the M/T Avax to BP Shipping.
The M/T Avax (47,834 dwt, IMO II/III Chemical Product Tanker built
2007 Hyundai Mipo Dockyard, South Korea) was chartered in October
2013 to BP Shipping for a minimum charter term of one year (+/- 30
days). BP Shipping has the option to extend the charter for an
additional 12 months at a gross day rate of $15,600 per day.
The vessel had been under charter with Capital Maritime & Trading
Corp. ("Capital Maritime"), our sponsor, as of April 2013 for 12
months (+/- 30 days) at a gross daily charter rate of $14,750. The
vessel's actual earnings under the new charter are $14,750 gross per
day until May 2014 and $14,800 gross per day between May and October
2014, as the new daily charter rate includes compensation that
Capital Maritime will pay to the Partnership for the vessel's early
redelivery in accordance with the terms of the charter party
agreement with Capital Maritime.
The transaction was unanimously approved by CPLP's conflicts
About Capital Product Partners L.P.
Capital Product Partners L.P. (NASDAQ: CPLP), a Marshall Islands
master limited partnership, is an international owner of a modern
tanker, container and dry bulk vessels. The Partnership currently
owns 30 vessels, including four Suezmax crude oil tankers, 18 modern
MR (Medium Range) product tankers, seven post panamax container
vessels and one Capesize bulk carrier. All of its vessels are under
period charters to BP Shipping Limited, Overseas Shipholding Group,
Petrobras, A.P. Moller-Maersk A.S., Hyundai Merchant Marine Co. Ltd.,
Bluemarine Cargo, S.A. de C.V., Subtec S.A. de C.V., Cosco Bulk
Carrier Co. Ltd. and Capital Maritime & Trading Corp.
For more information about the Partnership, please visit our website:
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.
Capital GP L.L.C.
CEO and CFO
+30 (210) 4584 950
Capital Maritime & Trading Corp.
+30 (210) 4584 950
Investor Relations / Media
Capital Link, Inc. (New York)
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