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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Science

P&I Club warns on Enclosed Space Entry & Testing

The London P&I Club says it continues to see cases of injuries and fatalities associated with entry into enclosed onboard spaces, including cargo holds on bulk

TAMRF Extends Research Vessel Charter

Overseas Drilling Ltd., a 100 percent owned subsidiary of Siem Offshore Inc., and Texas A&M Research Foundation (TAMRF) have agreed to extend the charter of the

Kongsberg Tech for Peruvian Arctic Research Vessel

Kongsberg Maritime has been chosen to deliver an integrated subsea technology systems package including two HUGIN Autonomous Underwater Vehicles (AUV) for a new

 
 
Maritime Security Maritime Standards Navigation Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.0552 sec (18 req/sec)