New Capital Product Partners boxship gets CMA CGM contract

New Capital Product Partners boxship gets CMA CGM contract

Athens: NASDAQ-listed Capital Product Partners (CPP) has taken delivery of a new panamax containership, which will commence a five-year timecharter to CMA CGM.

The Akadimos (9,288 teu) was delivered to CPP from the Romania’s Daewoo-Mangalia Heavy Industries shipyard on June 10 and will begin its timecharter to CMA CGM for $39,250 daily.

The vessel is the first of three 9,160-teu ‘eco-flex’ containership newbuildings purchased in April from CPP’s sponsor, Capital Maritime & Trading Corp. The two other vessels will be delivered in August and November this year, and will also each commence five-year timecharters to CMA CGM.

Akadimos was purchased from the sponsor for $81.5m, which will be funded through a drawdown of $40.75m from CPP’s senior secured credit facility with ING Bank, as well as with available cash, including proceeds from previous equity offerings.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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