CPP Gets Charter for Agamemnon, Archimidis
Capital Product Partners (CPP), the Greek shipping company engaged in the seaborne transportation, has agreed new long-term time charters with Mediterranean Shipping Company (MSC) for the M/V 'Agamemnon' and the M/V 'Archimidis'.
The charter for the M/V ‘Agamemnon’ (108,892 dwt / 8,266 TEU, container carrier built 2007, Daewoo Shipbuilding & Marine Engineering Co., Ltd., South Korea) is expected to commence in the third quarter of 2019 upon completion of its previously announced scrubber installation and passing of special survey.
The M/V ‘Archimidis’ (108,892 dwt / 8,266 TEU, container carrier built 2006, Daewoo Shipbuilding & Marine Engineering Co., Ltd., South Korea) is expected to commence its new time charter at the end of the fourth quarter of 2019 upon completion of its previously announced scrubber installation and passing of special survey and in direct continuation of its present charter with MSC.
Both charters are set to expire at the earliest in February 2024, said the shipping line engaged in the seaborne transportation of a wide range of cargoes, including dry cargo and containerized goods.
The Partnership estimates that these charters may generate collectively an EBITDA of approximately $44.5 million over the median firm periods of the charters.
"As a result of the above employment updates, CPP's charter coverage for the remainder of 2019 and for 2020 has increased to 100% and 91%, respectively,"
