Capital Product Partners (CPLP) has exercised options to purchase three containerships and one liquified natural gas (LNG) carrier under construction in South Korea from Capital Maritime & Trading for a combined $597.5m.
The 174,000 cu m latest generation X-DF LNG carrier is expected to deliver from Hyundai Heavy Industries in January 2023. The vessel, to be named Asterix I, comes with a five-year time charter to Hartree Partners Power & Gas and options to extend until 2031.
The three 13,278 teu hybrid scrubber-fitted eco containerships that will trade as Manzanillo Express, Itajai Express and Buenaventura Express are currently under construction at Hyundai Samho Industries and are scheduled for delivery in October 2022, January 2023, and May 2023. The vessels have been fixed to Hapag-Lloyd for a firm period of 10 years, which, together with the optional periods, expire between October 2038 and May 2039.
CPLP said it expects to finance the deal with around $122m of cash, $468m of debt and $7.5m in common units. The vessels should generate approximately $73.4m of annual gross revenue over the firm period of the charters, the company said.
Meanwhile, the Nasdaq-listed Greek owner sold two 8,266 teu boxships, the 2006-built Archimidis (pictured) and the 2007-built Agamemnon, to undisclosed buyers for $130m. Delivery of the two vessels is expected in the third quarter of 2022, and CPLP should earn gross cash proceeds, after repaying outstanding debt, of approximately $99.5m.
Capital Product Partners currently owns 21 vessels, including six latest generation LNG carriers, 14 boxships and one capesize bulker.