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Capital Product Partners Announces M/V 'Adonis' Delivery

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Published Dec 23, 2021 5:34 PM by The Maritime Executive

[By: Capital Product Partners]

Capital Product Partners L.P. (NASDAQ: CPLP) today announced that the M/V 'Adonis' (115,145 dwt / 9,288 TEU, Eco-Flex, Wide Beam Containership built 2015, Daewoo-Mangalia Heavy Industries S.Α.) was delivered to its new owners on December 13, 2021, generating gross proceeds from the sale of approximately $49.3 million after repaying outstanding debt.  

In addition, the Partnership took delivery of the ‘Aristidis I’ (174,000 CBM, latest generation X-DF LNG carrier built 2021, Hyundai Heavy Industries Co., Ltd), the last vessel of the six LNGCs acquisition program previously announced. The acquisition was financed with $82.0 million cash at hand and the assumption of $123.0 million of debt.     

Mr. Jerry Kalogiratos, Chief Executive Officer of our General Partner, commented:  

“We are very pleased to have completed this substantial investment, amounting to more than $1.2 billion, in six latest generation LNGCs with long term employment in place. We believe that this transaction is highly transformative for the Partnership across all metrics and positions us firmly in the LNG market. The LNG market is supported by positive long-term fundamentals, as both natural gas and LNG are expected to play a key role in the energy transition to net zero and as such, we are excited to be growing in this segment at an opportune moment.”  

The products and services herein described in this press release are not endorsed by The Maritime Executive.