CPLP - Capital Product Partners extends two LNG carriers to 2031 at higher dayrates

Capital Product Partners ( NASDAQ: CPLP ) +4.1% in Monday's trading after announcing contract extensions for its Aristarchos and Asklipios liquified natural gas carriers, locking in the two vessels by more than six additional years through June 2031 and September 2031, respectively, with additional two-year options for each vessel.

Dayrates for both ships also will rise beginning September 1, although the company did not provide specifics.

As a result of the extension and the higher dayrates, Capital Product ( CPLP ) said firm contracted revenues under the two charters rose to $485.7M from $118.4M.

Capital Product Partners' ( CPLP ) leverage is "now in very high territory and appears poised to jump even higher as their net debt grows another ~50% to acquire a further four LNG vessels," Daniel Thurecht writes in an analysis published on Seeking Alpha .

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