CPLP fleet expansion

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Missed this announcement from 06/03/24.
Capital Product Partners (CPLP) have placed orders for Medium Gas Carriers (MGCs) and Liquid CO2 carriers.

IMHO, one needs to be wary of the sponsor entity. They transferred the new LNG carriers over to CPLP at elevated prices. Cannot tell if that’s also the case with the latest acquisition. What is known is 8 of 10 vessels are from Hyundai and 2 from a Chinese yard. MGCs are a very niche shipping area. Only aware of Avance Gas in 2023 as a recent buyer of MGC vessels (IIRC, Avance paid around low $60M per vessel from a Chinese yard). Liquid CO2 carriers are an even rarer vessel type.

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There are a couple of other entities with MGCs. BW LPG includes two MGCs in its fleet. Neither vessel is owned, and one belongs to StealthGas (GASS). The latter actually own three MGCs, each delivered in 2023 or 2024. The other listed entity who own MGCs is Exmar (I haven’t checked recently on whether they have expanded their MGC fleet)

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