Capital Product Partners, the owner of product tankers, has reached an agreement with BP Shipping to extend its existing time charters for two of the 37,000dwt, 2006 built, medium-range product tankers, the Agisilaos and the Arionas.
The time charters for the two medium-range product tankers have been extended by 13 months to March 2010 and June 2010, respectively, both at a base gross rate of $20,000 per day.
The base gross rate for the Agisilaos and the Arionas prior to the expiration of their existing charters is set at $17,721 per day and $19,240 per day, respectively.
Ioannis Lazaridis, CEO and CFO of Capital Product Partners’s general partner, said: We are pleased to continue our successful relationship with BP Shipping and to extend our time charters at a higher rate than what the vessels will be earning when their current charters expire.