Capital Product Partners buys three more LNG carriers

New York-listed Capital Product Partners said it has exercised an option to buy three more X-DF LNG carriers, following a recent deal for an LNG carrier trio with CGC Operating Corp.

CPLP said in its quarterly results report it would purchase the three new LNG carriers for $623 million. This includes aggregate contracted gross revenues of about $429 million and an average daily gross rate of about $71,650 per day.

The 2021-built vessels serve BP, Cheniere and Engie Energy Marketing Singapore with a remaining charter duration of 6.2 years, it said.

To remind, CPLP bought the first three 174,000-cbm vessels, namely Aristos I, Aristarchos, and Aristidis I, for $599.5 million.

It already took delivery of LNG carriers Aristos I and Aristarchos from CGC, while the third vessel will join its fleet later this year.

The parent company of CGC is beneficially owned 50 percent by a US-based financial sponsor and 50 percent by Miltiadis Marinakis, who is also the ultimate controlling person of all membership interests of the partnership’s general partner, according to CPLP.

Fleet of nine LNG carriers

Evangelos Marinakis-led Capital Gas, the manager of all of these LNG carriers above, recently took delivery of the sixth out of nine LNG carriers on order in South Korea.

The 299 meters long LNG carrier Asklipios will serve Cheniere for a period of up to 6 years.

This delivery followed the handover of Adamastos, which serves a long-term charter with Engie, and Attalos, which serves a long-term charter with BP.

Capital Gas will take delivery of three more LNG newbuilds in 2023.

The first seven LNG carriers feature WinGD’s X-DF engines and GTT’s Mark III Flex containment system but also an air lubrication system and increased filling limits.

Also, two new LNG tankers ordered this year will feature ME-GA engines, according to Capital Gas.

CPLP also previously said it had obtained from Capital Maritime & Trading Corp. a right of first offer on these three LNG carriers scheduled for delivery in 2023.

Most Popular

Technip Energies wins contract for Eni’s Coral Norte FLNG

France-based LNG engineering giant Technip Energies has won a contract for preliminary work on Eni's second FLNG project in Mozambique, Coral Norte (Coral North).

Victrol: LNG London hits bunkering milestone

The Shell-chartered inland bunkering vessel LNG London, owned by a joint venture of Belgium's Victrol and France's Sogestran, has reached a new operational milestone.

Himalaya’s LNG-fueled bulkers earned $34,500 per day in June

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $34,500 per day in June.

More News Like This

CCEC secures LNG carrier charter deals

Capital Clean Energy Carriers (CCEC) has secured employment for two of its 174,000-cbm LNG carriers, which are currently under construction in South Korea.

Capital sells LNG carrier for scrap

Greece's Capital Gas has sold one steam liquefied natural gas (LNG) carrier for scrap, according to brokers.

Wartsila, Capital Gas ink LNG carrier maintenance deal

According to Wartsila, the five-year deal was booked in the third quarter of this year. Warstila did not provide the...

CCEC expects to become largest US-listed LNG shipping firm by 2027

CCEC announced in a statement on Monday completion of its conversion from a Marshall Islands limited partnership to a...