Capital Product Partners L.P. (NASDAQ: CPLP) yesterday announced the sale of the M/T 'Aristofanis' (12,000 dwt, built 2005 Baima Shipyard, PRC). The vessel was sold to an unrelated third party and proceeds from the sale were used to repay bank debt.
Following the completion of this sale, all of the Partnership's vessels are under period charters with an average remaining term of 5.0 years (as of March 31, 2012). The Partnership's fleet of 25 vessels has an average age of 4.1 years and is comprised of 6 crude tanker vessels, 18 modern MR tankers ranging in size from 36,000 to 51,000 dwt and one capesize bulk carrier.
Capital Product Partners L.P. (NASDAQ: CPLP), a Marshall Islands master limited partnership, is an international owner of modern double-hull tankers. The Partnership currently owns 25 vessels, including two VLCCs (Very Large Crude Carriers), four Suezmax crude oil tankers, 18 modern MR tankers and one capesize bulk carrier. All of its vessels are under medium- to long-term charters to BP Shipping Limited, Overseas Shipholding Group, Petrobras, Arrendadora Ocean Mexicana, S.A. de C.V., Cosco Bulk Carrier Co. Ltd and Capital Maritime & Trading Corp.