A Sponsor’s Proper Role

In its first quarter earnings release, Capital Product Partners L.P. (“CPLP”) announced that it had entered into a vessel swap with its sponsor, Capital Maritime, which effectively improved the fleet’s charter coverage and reduced the average age of an already young fleet.

Specifically, CPLP swapped two of its “…MR product tankers with early charter expiries with two younger, high specification, sister chemical/product tankers both under a 3-year time charter to BP Shipping. As a result, our charter coverage for 2009 is now close to 100% and is approximately 67% for 2010, thus increasing our revenue predictability and strengthening our

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