Capital Product Partners Buys 2017-Built Tanker

Image Courtesy: Capital

Greek shipping company Capital Product Partners (CPLP) has decided to acquire Aristaios, a 112,800 dwt eco-type crude oil/product tanker, from Capital Maritime & Trading Corp.

As informed, the Ice Class 1C tanker which was built at South Korean Daehan Shipbuilding in 2017, is to be bought for a total of USD 52.5 million.

The 250-meter-long ship is currently employed under a time charter to Tesoro Far East Maritime Company at a gross daily rate of USD 26,400. The Tesoro charter commenced in January 2017 with duration of five years +/- 45 days.

CPLP intends to fund the acquisition through available cash in the amount of USD 24.2 million and the assumption of a USD 28.3 million term loan under a credit facility previously arranged by Capital Maritime with Credit Agricole Corporate and Investment Bank and ING Bank NV.

The partnership said the purchase of Aristaios was entered into on an arm’s length basis and was reviewed and unanimously approved by its board of directors.

COLP currently owns 36 vessels, including 21 MR product tankers, four Suezmax crude oil tankers, ten Neo Panamax container vessels and one Capesize bulker.

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