It remains to be seen whether newly-constituted Capital Product Partners will stay in the dry bulk business.
After spinning off its tanker business to Connecticut-based Diamond S Shipping in March, the New York-traded, Athens-based owner is left with 10 ships: 11 neopanamax containerships and a single bulker, the 179,221-dwt Cape Agamemnon (built 2010).
On Capital Product Partners' first quarter conference call Monday, chief executive Jerry Kalogiratos said the company would decide whether or not to hold onto the Cape Agamemnon when it comes off charter in the middle of next year.
"The intention is to continue with that vessel and we have booked the scrubber," he said.
"We might decide to sell the ship as you say, and let's say focus on another asset class, or we might decide that depending on what we see in the period market to go ahead with installation of the scrubber and secure a longer term charter for the ship."
Kalogiratos said the company would be looking to expand its fleet, most likely through a dropdown from parent Capital GP.
According to a list provided by the company, Capital GP has nine potential dropdown candidates, seven of which are crude tankers and two of which are boxships.
Kalogiratos said the company has between $30m and $40m to grow should it want to dip into the secondhand market or seek out a merger or acquisition.
But he would not commit to a sector, simply ships on long-term charters.
"In the shipping world ... any projections over two, three years, they are let's say, more theoretical as this is also very, very geopolitical," Kalogiratos said.
According to VesselsValue, the Cape Agamemnon has a market value of $23.8m.
