Capital Product Partners announces sale of two 9,288 TEU vessels

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(Image Courtesy: Capital Product Partners)

Capital Product Partners L.P. has announced the sale of two 9,288 TEU container vessels in April.

The Partnership has entered into a memorandum of agreement for the sale of the M/V ‘CMA CGM Magdalena’ (115,639 dwt / 9,288 TEU, Eco-Flex, Wide Beam Containership built 2016, Daewoo-Mangalia Heavy Industries S.Α.) and the M/V ‘Adonis’ (115,145 dwt / 9,288 TEU, Eco-Flex, Wide Beam Containership built 2015, Daewoo-Mangalia Heavy Industries S.Α.) to an unaffiliated third party for a total consideration of $195.0 million.

Delivery of the M/V ‘CMA CGM Magdalena’ and the M/V ‘Adonis’ to their buyer is expected in May and July/August 2021, respectively.

The carrying value of M/V ‘Adonis’ and the M/V ‘CMA CGM Magdalena’ at the end of the first quarter of 2021 was $72.7 million and $71.7 million, respectively.

The Partnership expects gross cash proceeds from the sale after repaying outstanding debt of approximately $97.6 million.

Sea News, May 4

Baibhav Mishra
Author: Baibhav Mishra

Associate Editor, Sea News