Capital Product Partners exits dry bulk sector with sale of sole cape

Greek owner Capital Product Partners has confirmed its exit from the dry sector with the sale of its only capesize.

The Nasdaq-listed diversified owner said in its second-quarter earnings report that it had offloaded the 2010-built
Cape Agamemnon to an undisclosed third party.

Capital Product Partners acquired the 179,221 dwt ship with a 10-year time charter attached to Cosco Shipping for $89.5m in 2011.

The sale price of the non-core unit VesselsValue estimated at $22.2m has not been disclosed, but the company said the deal resulted in a non-cash impairment charge of $8m.

The move will see the Evangelos Marinakis-backed partnership control a fleet of 22 ships comprised of containerships and LNG carriers.

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