ATHENS: One MR chemical/product tanker belonging to Capital Product Partners (CPP) has won a timecharter from Cargill, and another two have had their charters to Capital Maritime extended.
CPP’s new tanker Active (50,000 dwt, built 2015) has been fixed on a two-year timecharter to Cargill for $17,700 daily. The NASDAQ-listed company bought the vessel in April from its sponsor Capital Maritime & Trading Corp for $33.5m. Active‘s previous charter to Capital Maritime was due to expire in 2017 but was terminated early so that Cargill could commence its contract in early June. Capital Maritime was paying a gross rate of $17,000 per day for the vessel, plus a 50/50 profit share.
Capital Maritime has extended its existing timecharter of CPP’s tanker Anemos I (47,782 dwt, built 2007) by another year at a gross rate of $17,250 per day. This is an increase on the gross $14,850 per day fixed in the current charter, which expires in mid-June. CPP’s sister company Capital Maritime has also extended its timecharter of the MR tanker Atrotos (47,786 dwt, built 2007) for another year at a gross daily rate of $15,250, which is $500 per day more than the current rate. The new charter expires in April next year.
As a result of these fixtures, the partnership says its charter coverage for 2015 and 2016 has increased to 95% and 72%, respectively.
