US-listed Capital Product Partners has unveiled its second batch of sales as part of a wind down of its container ship fleet.
A month after kick-starting its disposal drive with the sale of the 5,100-teu Long Beach Express (built 2008), the Evangelos Marinakis-controlled company is offloading three extra vessels in two separate transactions.
In the first deal, Capital said it agreed to part with the 9,300-teu Akadimos (built 2015), which will be delivered promptly to its new owner this month.
In the second transaction, the 5,100-teu Fos Express and Seattle Express (both built 2008) will go to an undisclosed party, with delivery by April.
Capital did not disclose the per-vessel price.
However, Capital revealed it has received gross cash proceeds — after debt repayment — of about $81m from the four boxships it has sold so far.
The actual price was certainly much higher. The four vessels combined are worth nearly $130m, according to VesselsValue.
Capital has already said it would gradually divest its entire fleet of 15 container ships, which VesselsValue estimated last month was worth $850m. It now has 11 left.
Sales conditions have materially improved lately, as boxship freight markets and asset values tick up in the wake of large-scale trade disruption in the Red Sea.
The buyers of Capital’s four boxships remain unknown.
The three panamaxes among them — the Fos Express, Seattle Express and Long Beach Express — have all been operated for quite some time by Germany’s NSC Holding.
