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.

- Advertisements -

Most Popular

Golden Pass LNG contractor Zachry files for bankruptcy

US construction company Zachry said on Tuesday it has filed for bankruptcy, initiating a structured exit from the Golden...

UAE’s Adnoc in Mozambique LNG move

UAE's Adnoc has agreed to buy Galp’s 10 percent interest in the Area 4 concession of the Rovuma basin...

Seatrium secures contract from Hyundai LNG Shipping

Singapore’s Seatrium has secured a contract from South Korea's Hyundai LNG Shipping to repair and upgrade the latter's LNG...

More News Like This

Capital Product Partners welcomes newbuild LNG carrier to its fleet

New York-listed Capital Product Partners has taken delivery of a newbuild liquefied natural gas (LNG) carrier from South Korea’s...

Yoda buys stake in Capital Product Partners

Cyprus-based Yoda has purchased a stake from Evangelos Marinakis-led Capital Maritime & Trading in New York-listed LNG carrier owner...

Capital Product Partners completes $3.1 billion LNG carrier deal

New York-listed Capital Product Partners has completed the previously announced umbrella agreement to buy 11 LNG carriers from its...

Capital Product Partners to buy 11 LNG carriers for $3.1 billion

New York-listed Capital Product Partners has entered into an umbrella agreement to buy 11 LNG carriers from its sponsor...