Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: Hohum777 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3254  
Subject: CPLP fleet shake-up Date: 1/8/2013 2:30 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Whoa! Quite an interesting pair of transactions here. CPLP has a deal with Maersk, looks
like a sale=and-leaseback, for two 7943-TEU Containerships, each with slightly less-than
4 years of charter coverage. As payment, CPLP is offering sponsor, CMTC two 2010-built VLCCs.
There's also a separate charter extension deal for an unrelated vessel

Is this a good deal for CPLP? Obviously, the nearly 4-year charters on each containership helps
with the revenue visibility. But how is Maersk being compensated? Are they getting the VLCCs
as trade/payment? If so, that seems to negate the effect of the deal. If
the fixed-term length of
contracts was 6-8 years, then it might have evened out. Perhaps, there's more stuff e.g. debt
load adjustment, that's not mentioned.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next


Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Berkshire Hathaway

Munger and Buffett Wisdom
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.