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.
On November 29, 2021, Capital Product Partners L.P. (CPLP) announced the delivery of the LNG carrier ‘Adamastos’ as part of an acquisition of three LNG carriers from CGC Operating Corp. The total acquisition cost was $220 million, which included $76.9 million in cash and $143.1 million in assumed debt. This vessel is a latest-generation X-DF LNG carrier with a capacity of 174,000 CBM, built by Hyundai Heavy Industries in 2021. CPLP now owns 21 vessels, with plans for further acquisitions in the LNG sector.
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.
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