Capital Product Partners L p
Business Description
We are an international owner of modern tanker, container and drybulk vessels.
Our fleet of 30 modern high specification vessels (2.1 million dwt) with an
average age of approximately 6.8 years, consists of four Suezmax crude oil tankers,
eighteen modern MR tankers, all of which are classed as IMO II/III vessels,
seven post-panamax container carrier vessels and one Capesize bulk carrier.
Our vessels are capable of carrying a wide range of cargoes, including crude
oil, refined oil products such as gasoline, diesel, fuel oil and jet fuel, edible
oils and certain chemicals, such as ethanol, as well as dry cargo and containerized
goods. All our vessels were chartered under medium- to long-term time and bareboat
charters (with a revenue weighted average remaining term of approximately 8.3
years) to large charterers such as BP Shipping Limited, subsidiaries of OSG,
Maersk Line, HMM, CSSA S.A. (Total S.A.), Subtec S.A. de C.V. (“Subtec”),
Cosco, Engen Petroleum Ltd., Repsol Trading S.A. (“Repsol”) and
Capital Maritime. All our time and bareboat charters provide for the receipt
of a fixed base rate for the life of the charter, and in the case of 7 of our
24 time charters, also provide for profit sharing arrangements in excess of
the base rate.
The Marinakis family, including Evangelos M. Marinakis, our former chairman,
may be deemed to beneficially own on a fully converted basis a 17.6% and on
a non-fully converted basis a 19.9% interest in us through its beneficial ownership
of common units through, among others, Capital Maritime.
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