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

Capital Product Partners L.P. (CPLP) announced the successful delivery of two LNG carriers, 'Attalos' and 'Asklipios,' on November 18, 2021. These vessels were part of a purchase option exercised on three LNG carriers from CGC Operating Corp., with a total acquisition cost of $403 million, comprising $107.1 million in cash and $295.9 million in assumed debt. CPLP currently owns 20 vessels and plans to acquire two more LNG carriers, enhancing its position in the maritime transport sector.

Capital Product Partners L.P. (CPLP) reported strong financial results for Q3 2021, with revenues increasing to $43.1 million, up 21% from $35.5 million in Q3 2020. Net income rose 53% to $11.9 million, or $0.62 per unit. The partnership expanded its fleet with the acquisition of two LNG carriers and has announced a cash distribution of $0.10 per common unit. Total debt increased to $650.7 million, yet total partners’ capital rose to $486.9 million. The firm also successfully issued €150.0 million in senior unsecured bonds.

Capital Product Partners L.P. (NASDAQ: CPLP) announces the release of its third-quarter financial results for the period ending September 30, 2021, after market close on November 4, 2021. An interactive conference call to discuss these results will be held on November 5, 2021, at 9:00 AM ET. Participants can access the call through specific dial-in numbers provided in the press release. The partnership currently owns 18 vessels, including various container and LNG carriers.

Capital Product Partners L.P. (CPLP) announced a cash distribution of $0.10 per common unit for Q3 2021, payable on November 12, 2021, to holders of record by November 5, 2021.

The partnership, based in the Marshall Islands, owns 18 vessels, including Neo-Panamax and Panamax container ships, a Capesize bulk carrier, and two LNG carriers.

Capital Product Partners L.P. (CPLP) announced the successful pricing of €150 million in unsecured bonds, set to mature in 2026 with a 2.65% coupon. The net proceeds will partly fund the acquisition of three X-DF LNG sister vessels, with an average acquisition cost of $207.7 million each and projected aggregate revenues of approximately $429 million. The bond offering reflects strong demand and aims to diversify financing sources, enhancing CPLP's cost of capital.

Capital Product Partners L.P. (CPLP) announced plans to issue up to €150 million in unsecured bonds through its subsidiary CPLP Shipping Holdings PLC. The bonds will be traded on the Athens Exchange and guaranteed by CPLP. Proceeds from the offering aim to fund vessel acquisitions and working capital. Notably, these bonds will not be registered in the U.S. or other jurisdictions, limiting their market. CPLP, based in the Marshall Islands, owns 18 vessels, including container ships and LNG carriers.

Capital Product Partners L.P. (NASDAQ: CPLP) held its annual meeting of Limited Partners on September 23, 2021, in Athens, Greece. Key decisions included the re-election of Abel Rasterhoff and Dimitris P. Christacopoulos as Class II Directors until the 2024 meeting, ratifying Deloitte Certified Public Accountants S.A. as the independent accounting firm for the fiscal year ending December 31, 2021. Approval rates for the proposals were strong, with 92.03%, 95.40%, and 98.59% votes in favor, respectively. The Partnership currently owns 18 vessels, enhancing its position in the shipping industry.

Capital Product Partners (CPLP) announced the acquisition of three latest generation LNG carriers from CGC Operating Corp. for $599.5 million. This deal involves a mix of cash, debt assumption, and new common units, aiming to transition CPLP into a growth-oriented partnership in seaborne transportation. The vessels, under long-term charters with BP and Cheniere, will generate approximately $391 million in contracted revenue over an average of 5.6 years. The acquisition is expected to enhance cash flow visibility, fleet efficiency, and reduce the company's environmental footprint.