Capital Product Partners has defended buying three ships from sponsor Capital Maritime at a higher price with below-market charter rates in the face of tough questions from analysts.
The Jerry Kalogiratos-led owner of 16 boxships and one capesize bulker bought the 5,100-teu Seattle Express, Long Beach Express and Fos Express (all built 2008) for $40.5m in total from Evangelos Marinakis-controlled Capital Maritime & Trading.
