Capital Product Partners L.P. Announces the Extension of Three Period Charters and New Employment for M/V ‘Akadimos’
The Partnership has agreed to extend with effect from
Furthermore, the M/V ‘Akadimos’ secured short time charter employment with a liner operator for a period of about 80 days. The new charter is expected to commence in early
As a result, the Partnership’s charter coverage for the remainder of 2020 and for 2021 has changed to 88% and 73%, respectively and the remaining charter duration to 5.0 years.
“Management commentary”
“Despite the adverse market conditions, we are pleased to have extended the period employment of three of our vessels at an attractive long-term day rate, thus, enhancing the Partnership’s cash flow visibility. In addition, and in view of our expectations for improved demand for container vessels as the global economy recovers from the Covid-19 economic shock, we have elected to employ the M/V ‘Akadimos’ on short term employment. While the charter rate is significantly lower compared to the vessel’s previous employment, the short duration of the charter will allow us to take advantage of a potential recovery in global trade and charter rates over the coming months.”
About
For more information about the Partnership, please visit: www.capitalpplp.com.
CPLP-F
Contact Details:
CEO
Tel. +30 (210) 4584 950
E-mail: j.kalogiratos@capitalpplp.com
Nikos Kalapotharakos
CFO
Tel. +30 (210) 4584 950
E-mail: n.kalapotharakos@capitalmaritime.com
Investor Relations / Media
Capital
Tel. +1-212-661-7566
E-mail: cplp@capitallink.com
Source:
Source: Capital Product Partners L.P.