Capital Product Takes Delivery of New Tanker
Capital Product Partners has taken delivery of its fourteenth product tanker, M/T 'Alexandros II', from STX Shipbuilding, a Korean shipyard.
M/T 'Alexandros II' has a carrying capacity of 51,257 dwt and is capable of transporting a range of refined oil products, chemicals (including ethanol and biodiesel feedstock), and crude oil worldwide. The vessel has been fixed under a bareboat charter commencing at the time of delivery with Overseas Shipholding Group for ten years at a base rate of $13,000 per day.
The vessel's purchase price of $48 million has been fully funded through a drawdown on Capital Product's existing revolving credit facility.
The M/T 'Alexandros II' is the first of three 51,000 dwt chemical/product tanker sister vessels to be delivered in 2008. The remaining two vessels are scheduled for delivery in June and August of this year.