Capital Product Partners Announces Further Expansion With $756M Investment In Liquid CO2 And LPG-Ammonia Carriers With Expected Deliveries Between Q1 Of 2026 And Q3 Of 2027

Author: Benzinga Newsdesk | June 03, 2024 09:07am

Capital Product Partners L.P. (the "Partnership", "CPLP" or "we" / "us") (NASDAQ:CPLP), an international owner of ocean-going vessels, today announces an important strategic investment in 10 latest technology gas carriers.

 

Highlights of the transaction

• Investment in 10 new gas carriers (the "Gas Fleet") for USD 756.0 million with expected deliveries between the first quarter of 2026 and the third quarter of 2027
• Six vessels are Dual Fuel Medium Gas Carriers ("MGCs") and four are Liquid CO2 Handy Multi Gas Carriers ("LCO2s")
• Key strategic expansion with an eye to the energy transition, adding complementary gas capability to core Liquefied Natural Gas ("LNG") competence and including pioneering vessels in the transportation of LCO2 and ammonia
  • Transaction expected to be funded using cash at hand obtained primarily from the sales of container vessels and debt financing

Posted In: CPLP