Capital Product Partners acquires Panamax ships

Nasdaq-listed Capital Product Partners (CPLP) is to acquire three 5,100 TEU container ships from Capital Maritime & Trading for $ 40.5 m. The vessels to be purchased are Seattle Express, Long Beach Express and Fos Express. All three are being sold with a five-year charter  to Hapag-Lloyd at $ 12,300 per day. Jerry Kalogirathos, CPLP CEO, commented, “We are delighted to announce the addition of three Panamax container ships to our fleet.

This transaction will be completed with minimal cash costs, taking into account the favorable terms of debt and credit received by us. The low purchase price and the five-year freight from a reputable charterer offer a very good return on investment.” The acquisition was a pretty lucrative deal for CPLP, given that VesselsValue values the trio at $ 60.45 million.

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