M/T Apostolos Delivered

Monday, September 24, 2007
Capital ProductPartners L.P. (Nasdaq:CPLP) took delivery of its eleventh medium range (MR) product tanker, M/T Apostolos, from Hyundai Mipo Dockyard Ltd., a Korean shipyard, on September 20, 2007. M/T Apostolos, an ice strengthened vessel (Ice Class 1A), has a carrying capacity of 47,782 dwt and is capable of carrying a range of refined oil products, chemicals (including ethanol and biodiesel feedstock), and crude oil worldwide. The vessel has been fixed under a time charter with Morgan Stanley Capital Group Inc. for three years at a base rate of $20,000 per day, subject to a profit sharing arrangement which allows each party to share, at a 50/50 percentage, additional revenues when spot rates are higher than the base rate. The vessel's purchase price of $56 million was fully funded through a drawdown on the existing revolving credit facility. The M/T "Apostolos" is the third out of seven additional MR product tankers that Capital Product Partners L.P. has agreed to purchase from Capital Maritime & Trading Corp.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Science

El Nino Onset May Impact Panama Canal Drafts

The Panama Canal Authority closely monitors the water levels of Gatun and Alhajuela lakes on a regular basis due to the importance that these resources have for transit operations.

Climate Change Boosts Galapagos Penguin Population

New study finds shifting winds and ocean currents helped double endangered Galapagos Penguin population   Shifts in trade winds and ocean currents powered a resurgence

Renovated Research Vessel Sets Sail

French scientific research vessel completely renovated in life extension project. French research vessel Marion Dufresne II left Damen Shiprepair Dunkerque (part

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0873 sec (11 req/sec)