Capital Product Partners agrees LNG carrier contract extensions at bumper rate

Capital Product Partners (CPLP) has sealed charter extensions at improved rates on two of its liquified natural gas (LNG) carriers currently employed by US LNG player Cheniere Energy.

The deal will see the charters of the 2021-built 174,000 cu m Aristarchos and Asklipios, currently earning 69,823 per day, extended by around 6.4 years to June and September 2031, respectively.

As a result of the extension and the higher day rate, firm contracted revenues under the two charters increased from approximately $118.4m to $485.7m, CPLP said. 

The increased day rate will apply from September 1, 2022, and Cheniere was granted two options per vessel, each for two years.

Capital Product Partners owns 19 ships, of which six LNG carriers, while a seventh one is set to deliver from Hyundai Heavy Industries in January 2023 with a five-year time charter attached to Hartree Partners Power & Gas and options to extend until 2031.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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