Nasdaq-quoted CPP says its sponsor fixed the 47,000-dwt sisters Avax and Axios (both built 2007) each for a year at a rate of $14,000 per day, a notch above what Petrobras paid for the duo back in 2011.
The revelation came as the Evangelos Marinakis-backed shipowner reported second-quarter net income of $3.4m, well below the $15.1m gain posted 12 months ago, despite a spike in revenue, which rose to $37.8m from $27.9m year-on-year.
The Athens-based company said revenue reflected a larger fleet and included $1.1m generated from profit sharing agreements attached to a trio of crude carriers, but the improvement was offset by preferred interest paid to unit holders that participated in a recent fundraiser.
Going forward, chief executive Ioannis Lazaridis told investors that he remains “positive on the fundamentals of the product tanker market” based on the expectation that tonne mile growth will continue to drive demand for period fixtures.
Explore the fact boxes and links to the right of this article to learn more about Capital Product Partners and Evangelos Marinakis.
