Capital Product Partners L.P. Stock Price, News & Analysis

On April 25, 2023, Capital Product Partners L.P. (CPLP) announced a cash distribution of $0.15 per common unit for Q1 2023, payable on May 12, 2023 to unitholders of record as of May 8, 2023. The partnership, based in the Marshall Islands, owns 22 vessels, including 7 LNG carriers and 11 Neo-Panamax container vessels. Notably, CPLP has agreed to acquire an additional container vessel expected to be delivered in Q2 2023. This distribution reflects the company's ongoing commitment to return value to its investors.

Capital Product Partners L.P. (CPLP) announced a new time charter for the M/V Akadimos container carrier, expected to begin in Q2 2023, lasting approximately 24 months. This charter is projected to generate $34.4 million in gross revenue. As a result, CPLP's charter coverage for 2023 and 2024 has risen to 96%. Currently, CPLP owns 22 vessels, including various LNG carriers and container vessels, with an additional vessel anticipated for delivery in Q2 2023.

Capital Product Partners L.P. (NASDAQ:CPLP) announced the successful delivery of its LNG carrier, ‘Asterix I’, on February 17, 2023. The vessel has entered a seven-year employment contract with Hartree Partners Power & Gas Company, which includes an option for an additional two years. Financing for the acquisition comprised a $12 million cash deposit, $184 million in debt through a sale and leaseback with CMB Financial Leasing, and $34 million in cash. The vessel is the seventh latest generation LNG carrier in CPLP's fleet, which now includes 22 vessels overall, reinforcing the partnership's position in the maritime sector.

Capital Product Partners L.P. (CPLP) reported Q4 2022 revenues of $79.9 million, a 26% increase from $63.6 million in Q4 2021. However, net income fell to $21.1 million from $40 million due to a previous $21.4 million gain on vessel sale. Net income per common unit was $1.03, down 49% year-over-year. Expenses increased 18% to $42.1 million, influenced by rising vessel operating costs. The partnership declared a $0.15 cash distribution for Q4 2022. CPLP acquired two new vessels, strengthening its fleet amid a challenging container market, while still capitalizing on favorable LNG sector conditions.

Capital Product Partners L.P. (NASDAQ: CPLP) will release its fourth quarter financial results for the period ending December 31, 2022, before the NASDAQ market opens on February 3, 2023. The partnership, which owns 21 vessels including LNG carriers and container ships, will also host a conference call at 9:00 am ET on the same day to discuss these results. Participants can join the call via US Toll-Free or International Dial In numbers. Audio and slides will be available on the company's website for those unable to attend live.

Capital Product Partners L.P. (NASDAQ:CPLP) has announced a cash distribution of $0.15 per common unit for Q4 2022, ending December 31, 2022. The distribution will be paid on February 10, 2023, to unit holders of record as of February 7, 2023.

CPLP operates as a master limited partnership, owning 21 vessels including LNG carriers and container ships. The partnership aims to enhance shareholder value through these distributions.

Capital Product Partners L.P. (CPLP) announced that new U.S. Treasury Regulations, effective January 1, 2023, will not impact its unitholders. These regulations typically require non-U.S. brokers to withhold taxes on proceeds from sales of publicly traded partnership interests. However, since CPLP has elected to be taxed as a corporation, its interests are exempt from these rules. The partnership currently owns 20 vessels and has plans to acquire additional vessels expected to be delivered in early to mid-2023.