Capital Product Partners Finds Work for MR Trio

Illustration; Image Courtesy: Capital Product Partners

Greece-based shipowner Capital Product Partners L.P. has secured new time charter employment for three Medium Range (MR) product tankers.

The three ships are M/T Amadeus, M/T Aktoras and M/T Aiolos, the employment of which brought the company’s charter coverage for 2017 and 2018 to 90% and 58%, respectively.

Specifically, the 50,108 DWT M/T Amadeus, built in 2015 by Samsung Heavy Industries, was fixed on a one-year charter (+/- 30 days) with Repsol Trading at a gross daily rate of USD 14,500. The charterer has the option to extend the time charter for an additional year for USD 14,750 per day. The new charter will commence in October 2017.

The 2006-built M/T Aktoras and 2007-built M/T Aiolos, both constructed by Hyundai Mipo Dockyard, have been chartered to Capital Maritime & Trading Corp. for ten to twelve months at USD 11,000 gross per day plus 50/50 profit share on actual earnings settled every six months.

The vessels have been trading on voyage or short time charters following the expiry of their employment with BP Shipping Limited at the end of the first quarter of 2017. The new charters are expected to commence in September.

“The employment of M/T ‘Aktoras’ and M/T ‘Aiolos’ with Capital Maritime was unanimously approved by the Conflicts Committee of the partnership,” the company said.

Capital Product Partners owns 36 vessels, including twenty-one MR tankers, four Suezmax crude oil tankers, ten Neo Panamax container vessels and one Capesize bulk carrier.

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