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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Science

‘Green’ Hybrid-powered Research Vessel Christened

The Maritime Aquarium at Norwalk christened a larger, “greener” new research vessel on Friday, September 26 in preparation for launching a new era in examining,

Great Lakes Restoration Plan Announced

U.S. Environmental Protection Agency (EPA) informs that Administrator Gina McCarthy has released a new Great Lakes Restoration Initiative (GLRI) Action Plan that

Seakeeper Launches 5 New Models

Seakeeper proudly introduces five new models, offering stability and roll reduction for vessels 30’ and larger! The product range now includes the Seakeeper 5, 9,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0816 sec (12 req/sec)