Capital Product Partners, Cheniere extend charters for LNG carrier duo

New York-listed Capital Product Partners has extended charter deals and secured a better day rate for two LNG carriers that are serving US LNG exporting giant Cheniere.

Under the new deal, the 174,000-cbm LNG carriers, Aristarchos and Asklipios, will now serve Cheniere until June and September 2031, respectively, or about 6.4 years longer then the original deal.

In addition, the charterer was granted two options per vessel, each one for two years, CPLP said in a statement on Monday.

The 2021-built Aristarchos currently serves Cheniere under a charter deal which ends in March 2025 and with an average day rate of $69,823, according to CPLP’s website.

As per the 2021-built Asklipios, this vessel serves Cheniere under a charter deal which ends in February 2025 and with an average day rate of $69,823.

As a result of the extension and the higher day rate, firm contracted revenues under the two charters increased from about $118.4 million to $485.7 million, CPLP said.

CPLP said the increased day rate would apply from September 1, 2022.

The remaining charter duration for CPLP’s fleet is now extended to 7 years from 6.2 as of June 30, 2022, it added.

In June, CPLP purchased one 174,000-cbm newbuild LNG carrier from its sponsor Capital Maritime & Trading Corp, boosting its fleet to seven LNG tankers.

Such as the first six LNG carriers which joined CPLP last year, Capital Gas, owned by Evangelos Marinakis, will manage the new LNG carrier as well.

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