Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

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 HD Hyundai Heavy.

CPLP took delivery on January 2 of the 174,000-cbm MEGA LNG carrier, Axios II, as part of the previously announced umbrella agreement to buy 11 LNG carriers from its sponsor Capital Maritime, led by Evangelos Marinakis, for a total acquisition price of $3.13 billion.

The firm said that Axios II started a one-year time charter at a market-linked rate, which will be followed by a seven-year bareboat charter with Nigeria’s Bonny Gas Transport, who maintain an option to extend by an additional three years.

According to CPLP, the vessel acquisition was financed with cash from the balance sheet, a new senior secured loan facility led by ING Bank for an amount of $190.0 million, in addition to a balloon payment of $120 million.

Axios II is the ninth LNG carrier in CPLP’s fleet and the second vessel delivery of the fleet acquired under the umbrella agreement.

Capital Gas, also owned by Evangelos Marinakis, manages all of these LNG carriers.

The remaining nine vessels are expected to be delivered between the second quarter of 2024 and the first quarter of 2027, CPLP said.

Cyprus-based Yoda recently purchased a stake from Capital Maritime in CPLP.

Yoda now holds an 18.1 percent stake in CPLP, Capital Maritime owns 54.2 percent of the shares in CPLP, while Miltiadis E. Marinakis, son of Evangelos Marinakis, holds 2.1 percent in the firm.

Most Popular

BP takes FID on Ginger gas project in Trinidad and Tobago

UK-based energy giant BP has taken the final investment decision on the Ginger gas development offshore Trinidad and Tobago.

Glenfarne becomes majority owner of Alaska LNG

US energy firm Glenfarne has signed definitive agreements with state-owned Alaska Gasline Development Corporation to become the majority owner of the giant Alaska LNG export project.

Japan’s Tokyo Gas to expand LNG trading business

Japan’s city gas supplier and LNG importer, Tokyo Gas, plans to expand its liquefied natural gas trading business further, including in the US.

More News Like This

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...

VesselsValue: Greek shipowners spent $13.8 billion on LNG newbuilds since 2021

Greek shipowners have spent about $13.8 billion on 59 newbuild liquefied natural gas (LNG) vessels since 2021, according to...

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...