Capital Product Partners Announces Extension of Time Charters for 2 Vessels, Secures Additional Time Charter

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Image Courtesy: Capital Product Partners

Capital Product Partners has reached an agreement with Pacific International Lines to extend the charter of the M/V ‘Agamemnon’ (108,892 dwt / 8,266 TEU, container carrier built 2007, Daewoo Shipbuilding & Marine Engineering Co., Ltd., South Korea) for an additional eleven to thirteen months following the expiration of the present charter at an increased gross daily rate of $20,000. The M/V ‘Agamemnon’ is currently earning $8,250 gross per day under a one-year charter that will expire in May 2018.

The Partnership has also agreed to charter the M/V ‘Archimidis’ (108,892 dwt / 8,266 TEU, container carrier built 2006, Daewoo Shipbuilding & Marine Engineering Co., Ltd., South Korea) to Mediterranean Shipping Company Co. S.A. for two years (+/- 30 days) at $18,000 gross per day. The charter is expected to commence at the end of May 2018. The M/V ‘Archimidis’ is currently employed under a one-year charter with PIL at a gross daily rate of $8,250.

Finally, the M/T ‘Active’ (50,136 dwt, IMO II/III Eco Chemical/Product Tanker built 2015, Samsung Heavy Industries (Nigbo) Co. Ltd.), has been chartered to Stena Bulk AB for a period of minimum two to a maximum of twelve months at rates between $15,000 – $16,000 gross per day. The new charter is expected to commence in late May 2018. The vessel is currently under a short-term charter with Louis Dreyfus Company Suisse S.A. at a gross daily rate of $13,000.

Sea News, May 1