Financial Performance - Net income for Q1 2024 was $33.9 million[9], compared to $10.028 million for the three-month period ended March 31, 2023[32] - The Partnership's operating surplus was $48.3 million[4], or $9.6 million after the quarterly allocation to the capital reserve[4] - Gain on sale of vessels was $16.411 million[15] Contracted Revenue and Charter Coverage - Contracted revenues totaled $2.81 billion, with 85% or $2.4 billion from LNG/Cs[4, 43] - Average remaining charter duration is 7.3 years[9] - Charter coverage is 100% for 2024, 82% for 2025, and 66% for 2026[9] Asset and Liability - Total Assets as of March 31, 2024 were $3.316 billion[19] - Total Partners' Capital was $1.203 billion[19] Fleet and Transaction Updates - Concluded the sale of two container vessels[4] - Announced the sale of an additional five container vessels for a total consideration of $179.4 million[31] - Expected net proceeds from the agreed sale of the seven container vessels is approximately $182.5 million[21] - Took delivery of the 174,000 cbm LNG/C Axios II[31] Market Dynamics - Newbuilding prices for LNG carriers remain high, currently at ~$260+ million per vessel for the basic specification[29]
Capital Product Partners L.P.(CPLP) - 2024 Q1 - Earnings Call Presentation