🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Capital Product Partners expands fleet through $3.1 billion acquisition

EditorPollock Mondal
Published 2023-11-13, 07:24 a/m
© Reuters.
CCEC
-

Transport tanker and vessel owner, Capital Product Partners (NASDAQ:CPLP), announced on Monday that it has expanded its fleet with the acquisition of 11 newbuild Liquid Natural Gas (LNG) carriers. The deal, valued at $3.1 billion, was made with Capital Maritime.

The purchase of these carriers marks a significant investment by Capital Product Partners into the LNG market. The acquisition not only boosts the company's fleet but also strengthens its presence in the growing LNG sector.

The deal was announced on Monday, indicating the company's ongoing commitment to expanding its fleet and enhancing its capabilities in the LNG market. The acquisition of these newbuild LNG carriers provides Capital Product Partners with additional resources to meet the increasing demand for LNG transport.

Capital Product Partners, listed on NASDAQ, is a well-known player in the transport tankers and vessels market. The company's decision to acquire these carriers from Capital Maritime is a strategic move aimed at bolstering its position in the LNG market.

The $3.1 billion deal highlights the significant financial investment involved in expanding the company's fleet. This acquisition is expected to contribute to Capital Product Partners' growth and its ability to meet the increasing global demand for LNG.

The acquisition of the 11 newbuild LNG carriers from Capital Maritime is a testament to Capital Product Partners' strategic investment in the LNG market. With this acquisition, the company has not only expanded its fleet but also solidified its position in the growing LNG sector.

As the demand for LNG continues to rise globally, the addition of these newbuild carriers to Capital Product Partners' fleet is expected to enhance its ability to meet this demand. The company's significant investment in the LNG market underscores its commitment to growth and its confidence in the future of this sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.