Greek Shipowners CPLP Justify Q4 2012 Net Loss

Maritime Activity Reports, Inc.

January 31, 2013

Capital Product Partners L.P. (CPLP) attribute fourth quarter 2012 net loss to a US$43.2-million impairment charge.

CPLP an international owner of modern tanker, dry bulk and container vessels has released its financial results for the fourth quarter ended December 31, 2012.

The Partnership's net loss for the quarter ended December 31, 2012, was $35.0 million, including an impairment charge of $43.2 million, which is a non cash item, representing the difference between the carrying values and the fair market values of the M/T ‘Alexander the Great’ and the M/T ‘Achilleas’ on the date they were sold by CPLP to Capital Maritime in exchange for M/V ‘Archimidis’ and the M/V ‘Agamemnon' on 22, December 2012.

Charters
BP Singapore has extended the time charter employment of the M/T ‘Amore Mio II’ (159,982 dwt) for floating oil storage, at a gross rate of $17,500 per day from March 2013 until February 2014 (inclusive of charterer’s option to extend for a further 3 months).

Two 8,000TEU container vessels have been hired out on long term employment to Maersk Line,
 

 

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