First shipping company out the gate for Q1 2024 on 04/30.
- Per their table - revenue, expenses, net income, & adjusted net income all increased.
- CPLP announced the sale of two container vessels. Also, the sale of an additional 5 container vessels
- Took delivery of 2 newbuild LNG carriers, with 9 more to follow.
- Maintain 15c/unit distribution
While the delivery of newbuild LNG carrier is a positive, the other part (debt financing) will be worth monitoring. I do realize the container vessel sales will help offset some of the debt. But, I still project a net debt increase.