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Capital Product Partners L.P. - CPLP STOCK NEWS

Welcome to our dedicated page for Capital Product Partners L.P. news (Ticker: CPLP), a resource for investors and traders seeking the latest updates and insights on Capital Product Partners L.P. stock.

Capital Product Partners L.P. (NASDAQ: CPLP) is an international, diversified shipping company specializing in the seaborne transportation of a wide range of cargoes. As a leader in the global shipping industry, CPLP transports crude oil, refined oil products such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils, certain chemicals like ethanol, and dry cargo including containerized goods.

CPLP’s fleet is versatile and includes suezmax crude oil tankers, medium-range product tankers, neo panamax container carriers, and capsize bulk carriers. This diverse fleet enables the company to offer short-term voyage charters, medium to long-term time charters, and bareboat charters, generating revenue by charging charterers for the use of its vessels.

As a publicly traded master limited partnership, CPLP has elected to be treated as a C-corp for tax purposes, benefiting U.S. investors who receive the standard 1099 form. The company is well-positioned to capitalize on the long-term growth dynamics of the global shipping industry and potential acquisition opportunities in the fragmented market.

Recently, CPLP has been engaged in several strategic ventures. They benefit from their commercial and technical management agreement with their sponsor, Capital Maritime & Trading Corp., a well-established and reputable diversified shipping company. This partnership strengthens CPLP’s ability to deliver consistent and reliable services in the seaborne transportation sector.

Stay updated with the latest news and developments from CPLP:

  • On February 2, 2024, CPLP will host a conference call to discuss the financial results.
  • On April 25, 2024, the Board of Directors declared a cash distribution of $0.15 per common unit for the first quarter of 2024, payable on May 14, 2024.
  • Updates on the acquisition of 10 vessels under construction are available, enhancing the company's fleet capabilities.
News

Capital Product Partners L.P. Announces the Sale of Three 10,000 TEU Container Vessels

Rhea-AI Summary
Capital Product Partners L.P. (CPLP) announces the sale of three container vessels as part of its strategic shift towards LNG carriers and energy transition shipping. The sale of seven container vessels is expected to generate approximately $182.5 million after debt repayment.
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Capital Product Partners L.P. Announces the Sale of One 9,300 TEU and Two 5,100 TEU Container Vessels

Rhea-AI Summary
Capital Product Partners L.P. (CPLP) announced the sale of multiple ocean-going vessels, including M/V Akadimos, M/V Fos Express, and M/V Seattle Express, expecting gross cash proceeds of around $81.0 million after debt repayment.
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Capital Product Partners L.P. Announces Fourth Quarter 2023 Financial Results

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Capital Product Partners L.P. (CPLP) released its financial results for the fourth quarter ended December 31, 2023. The company reported a 20% increase in revenues, but a 40% decrease in net income. The financials also revealed a $500.0 million rights offering and the acquisition of 11 LNG Carriers. However, the total debt increased by $488.6 million compared to the previous year.
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Capital Product Partners L.P. Schedules Fourth Quarter 2023 Earnings Release, Conference Call and Webcast

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Capital Product Partners L.P. (CPLP) will release financial results for the fourth quarter ended December 31, 2023, on February 2, 2024, and host an interactive conference call to discuss the financial results. The company is an international owner of ocean-going vessels.
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Capital Product Partners L.P. Announces Cash Distribution

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Capital Product Partners L.P. (CPLP) has declared a cash distribution of $0.15 per common unit for the fourth quarter of 2023, to be paid on February 13, 2024. The announcement was made on January 25, 2024, and the distribution is for common unit holders of record on February 6, 2024.
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Capital Product Partners L.P. Announces the Successful Delivery of the LNG Carrier ‘Axios II’

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Capital Product Partners L.P. (CPLP) successfully took delivery of the LNG Carrier 'Axios II' as part of an agreement to acquire 11 LNG/Cs. The vessel has commenced a one-year time charter at a market-linked rate, followed by a seven-year bareboat charter with Bonny Gas Transport Limited. The acquisition was financed with cash from the balance sheet, a new senior secured loan facility, and a seller's credit agreement. Axios II is the ninth latest generation LNG/C of the Partnership, with the remaining nine vessels expected to be delivered between the second quarter of 2024 and the first quarter of 2027.
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Capital Product Partners L.P. Announces Closing of Transaction to Acquire 11 Newbuild LNG Carriers Pursuant to Umbrella Agreement

Rhea-AI Summary
Capital Product Partners L.P. (CPLP) closed an umbrella agreement with Capital Maritime & Trading Corp. for the acquisition of 11 newbuild liquefied natural gas carrier vessels for a total acquisition price of $3,130.0 million. The vessels have a capacity of 174,000 Cubic Meters and were built or are under construction at Hyundai Heavy Industries Co., LTD and Hyundai Samho Heavy Industries Co. Ltd., South Korea. The acquisition also involved a $500.0 million Rights Offering and a $220.0 million Sellers’ Credit. Post-closing actions include the disposal of container vessels and a change in business focus to concentrate on the LNG/C market.
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Capital Product Partners L.P. Announces Results of Rights Offering

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Capital Product Partners L.P. (CPLP) announced the final results of its rights offering to raise proceeds of up to $500,000,000. The Rights Offering resulted in subscriptions for 445,988 common units at an exercise price of $14.25 per Common Unit.
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Capital Product Partners L.P. Announces Commencement of Rights Offering

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Capital Product Partners L.P. (CPLP) has announced the commencement of a rights offering to raise proceeds of up to $500,000,000. Each holder of common units representing limited partnership interests in CPLP will receive one non-transferable right to purchase 1.758657 Common Units at a subscription price of $14.25 per whole Common Unit. The subscription period for the Rights Offering will end on December 13, 2023. The proceeds will be used to finance the purchase of 11 LNG/C vessels from Capital Maritime.
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Capital Product Partners L.P. Announces Transformative Transaction including the Acquisition of 11 Newbuild LNG Carriers for $3.1 billion, Renaming of the Partnership as “Capital New Energy Carriers L.P.” and Intention to Convert into a Corporation Focused on LNG and Energy Transition Shipping

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Capital Product Partners L.P. (CPLP) to Acquire 11 Newbuild LNG Carriers, Change Name, and Intend to Convert into Corporation
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FAQ

What is the current stock price of Capital Product Partners L.P. (CPLP)?

The current stock price of Capital Product Partners L.P. (CPLP) is $16.77 as of August 24, 2024.

What is the market cap of Capital Product Partners L.P. (CPLP)?

The market cap of Capital Product Partners L.P. (CPLP) is approximately 923.0M.

What does Capital Product Partners L.P. (CPLP) specialize in?

CPLP specializes in the seaborne transportation of a wide range of cargoes, including crude oil, refined oil products, edible oils, chemicals, dry cargo, and containerized goods.

How does CPLP generate revenue?

CPLP generates revenue by charging charterers for the use of its vessels, which are available for short-term voyage charters, medium to long-term time charters, and bareboat charters.

What types of vessels does CPLP operate?

CPLP operates a versatile fleet that includes suezmax crude oil tankers, medium-range product tankers, neo panamax container carriers, and capsize bulk carriers.

What are the tax benefits for U.S. investors of CPLP?

As a publicly traded master limited partnership, CPLP has elected to be treated as a C-corp for tax purposes, which means U.S. investors receive the standard 1099 form.

Who manages CPLP’s commercial and technical operations?

CPLP’s commercial and technical operations are managed by Capital Maritime & Trading Corp., a reputable and diversified shipping company.

What recent financial update has CPLP announced?

On February 2, 2024, CPLP will host a conference call to discuss their financial results, providing insights into their recent performance.

What recent distribution did CPLP declare for its common unit holders?

On April 25, 2024, CPLP declared a cash distribution of $0.15 per common unit for the first quarter of 2024, which will be payable on May 14, 2024.

Is CPLP involved in any recent acquisitions?

Yes, CPLP has announced the acquisition of 10 vessels under construction, which will enhance their fleet capabilities and service offerings.

Where can I find the latest updates on CPLP’s financial performance?

You can stay updated with CPLP’s financial performance by joining their conference calls and checking their announcements and press releases.

How does CPLP’s partnership with Capital Maritime & Trading Corp. benefit them?

The partnership provides CPLP with reliable commercial and technical management, leveraging the expertise and reputation of Capital Maritime & Trading Corp. to ensure consistent and high-quality service.

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Capital Product Partners L.P.

Nasdaq:CPLP

CPLP Rankings

#2605 Ranked by Market Cap
#879 Ranked by Dividends

CPLP Stock Data

923.01M
55.04M
82.22%
0.88%
0.07%
Marine Shipping
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