Capital Product Partners L.P. (CPLP) announced the closing of the Umbrella Agreement with Capital Maritime & Trading Corp. and Capital GP L.L.C., finalizing the acquisition of 11 newbuild liquefied natural gas carrier vessels (LNG/C) for a total acquisition price of $3,130 million.
The vessels, each with a capacity of 174,000 Cubic Meters, were built or are under construction at Hyundai Heavy Industries Co., LTD and Hyundai Samho Heavy Industries Co. Ltd., South Korea. CPLP closed the acquisition of the LNG/C Amore Mio I and entered into the applicable Vessel SPA, paying Capital Maritime the aggregate acquisition price of $141.7 million.
The acquisitions of the Initial Vessels (Axios II, Assos, Apostolos, Aktoras, Archimidis, and Agamemnon) are expected upon completion of each vessel’s construction, with a total payment of $1,569.6 million.
We are very pleased to see the closing of this very important first step in the transformation of the Partnership into a one of the largest US listed owners of two stroke, latest generation LNG carriers.
… said Jerry Kalogiratos, CEO & Director at Capital Product Partners L.P.
Generally, LNG carriers play a critical role in the global energy supply chain by facilitating the transportation of liquefied natural gas (LNG) from production sources to consumption centers.
