Evangelos Marinakis’ Capital Product Partners has wrapped up long-term charters for two container vessels with liner giant Mediterranean Shipping Co.
The deals will employ both scrubber-fitted vessels until 2024 and leave the master limited partnership (MLP) with full contract coverage this year and over 90% filled in 2020.
MSC is an existing client of Capital Product, which now has 10 container vessels and a single bulker after merging its tanker fleet with Diamond S Shipping.
Diego Aponte’s MSC has chartered both the 8.300-teu Agamemnon (built 2007) and the Archimidis (built 2006) from the third and fourth quarter, respectively, according to a statement released today.
Capital Product said the charters, which will begin after the vessels enter dry dock to have scrubbers fitted, would be worth $44.5m over the firm period that extends until February 2024.
The Greek owner also has vessels on charter with CMA CGM, Cosco, Hyundai Merchant Marine and Pacific International Lines, according to its last results presentation earlier this year.
Capital Product has argued the sale of its tankers to Diamond S has left it with an asset base that is better suited to its MLP structure.
It also has a 32% holding in the separately listed crude and product tanker company.
Capital Product has three other container vessels and a bulker with charters due for renewal in 2020, with the rest of its fleet fixed until the middle of the next decade.
Plans are in place for the full fleet to have scrubbers fitted during the next couple of years.
