30NOV2018 - NEWS - Capital Product Partners and Diamond S Shipping inks deal to merge crude tanker fleet

Capital Product Partners (CPLP) has recently signed a $1.65bn definitive transaction agreement to spin-off its crude and product tanker business into a separate publicly listed company, which will merge with subsidiaries of DSS. Following the spin-off, CPLP will continue as a master-limited partnership supported by medium to long term charters producing stable cash flows in the container sector. The new company, which will be known as Diamond S Shipping, will have an asset portfolio of the combined product and crude tanker fleet of CPLP and DSS, totalling 68 tankers (52 product tankers and 16 crude tankers), with an average age of 7.8 years.

Published by Editor - www.Livebunkers.com at 30-Nov-2018 06:04:40 [UTC] , contact editor at editor@livebunkers.com