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Capital Product Partners expanding in gas sector

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Nasdaq-listed Capital Product Partners is growing its fleet with 10 liquid CO2 (LCO2) and LPG/ammonia carriers newbuildings.

Capital Product Partners will acquire six dual-fuel medium gas carriers (MGCs) and four LCO2 handy multi-gas carriers for $756 million, with expected deliveries from the first quarter of 2026 to the third quarter of 2027. The vessels are built by South Korean and Chinese shipyards.

The company wants to increase its footprint in the conventional gas and energy transition gas sectors while retaining the core focus on LNG.

“While LNG will remain our core competence, with an expected delivered fleet of 18 latest generation LNG carriers by 2027, this transaction puts a strong emphasis on the energy transition, as these new acquisitions will have the capability to move Liquefied Petroleum Gas (LPG), ammonia, butane, propylene and liquid CO2,,” said erry Kalogiratos, Chief Executive Officer of and General Partner, 

The vessels are new generation of MGCs that are LPG dual fuel (and have shaft generators, as well as other energy-saving devices, while they offer an increased capacity of 15%-30% compared to older generation MGCs.

The company believes that acquired LCO2 carriers will place company at the forefront of energy transition shipping as they can transport liquid CO2, LPG, and ammonia.

The vessels are alternative-marine-power-ready and with options for ammonia propulsion and/or onboard carbon capture, potentially significantly reducing carbon emissions.