Capital Adds Boxship, Finds More Work for Three Tankers
Marshall Islands-headquartered tanker, dry bulk and container ship owner and operator Capital Product Partners has acquired one 9,288 TEU newbuilding container ship from its sponsor Capital Maritime & Trading, as well as agreed two new charters and one extension for three of its tankers.
The M/V Akadimos is the second of five vessels Capital Products agreed to buy from Capital Maritime back in July, 2014. The remaining two 9,288 TEU boxships and one MR product tanker are under construction at Daewoo-Mangalia Heavy Industries and Samsung Heavy Industries, respectively. All three vessels are expected to be delivered by November 2015.
The purchase price of Akadimos was USD 81.5 million, funded through a drawdown of USD 40.75 million under a senior secured credit facility with ING Bank, and available cash, including the proceeds of previously completed equity offerings.
Akadimos is chartered to the French container line CMA-CGM for five years at a gross daily charter rate of USD 39,250.
In its chemical/product tanker segment, Capital Partners agreed to charter out its 2015-built, 50,000 dwt M/T Active to Cargill International for a period of two years at a gross daily rate of USD 17,700. The vessel was previously employed with Capital Maritime at a gross rate of USD 17,000 per day plus 50/50 profit share. Capital Maritime has agreed to terminate its existing charter earlier, in order for the vessel to commence its employment with Cargill in early June 2015.
The 2007-built, 47,782 dwt M/T Anemos I will continue its time charter employment with Capital Maritime for an additional year at USD 17,250 gross per day upon completion of its current charter. The vessel is presently earning USD 14,850 gross per day under its time charter with Capital Maritime which expires in mid-June 2015.
Finally, Capital Maritime exercised an option under its current charter of the 2007-built, 47,786 dwt M/T Atrotos to extend its employment for an additional year at a daily gross rate of USD 15,250, which represents an increase of USD 500 per day compared to its previous day rate.