Business Context and Reporting Period
This Form 6-K filing by Capital Product Partners L.P. (Nasdaq: CPLP) is dated January 15, 2010. The registrant is a Marshall Islands master limited partnership and foreign private issuer based in Piraeus, Greece. The filing serves as a notice regarding the upcoming release of financial results for the fourth quarter ended December 31, 2009.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This document is a procedural announcement scheduling the release of Q4 2009 earnings rather than a financial statement itself.
Material Changes
No material changes to financial performance or operations are detailed in this text. The filing indicates that the company will announce its Q4 2009 results on January 29, 2010.
Guidance, Outlook, and Management Commentary
Management has scheduled an earnings release and conference call for Friday, January 29, 2010, at 10:00 am Eastern Time. The call will be hosted by Ioannis Lazaridis, Chief Executive Officer and Chief Financial Officer. A slide presentation and audio webcast will be available on the company's website. The filing does not contain forward-looking guidance or specific management commentary on market conditions beyond the operational overview.
Operational Overview
Capital Product Partners L.P. owns a fleet of 18 modern double-hull tankers, comprising:
- 15 modern MR tankers
- 2 small product tankers
- 1 Suezmax crude oil tanker
All but one vessel are under medium- to long-term charters to major entities including BP Shipping Limited, Morgan Stanley Capital Group Inc., Overseas Shipholding Group, and Shell International Trading & Shipping Company Ltd.
Investor Verification Checklist
- Verify the actual Q4 2009 financial results released on January 29, 2010, as this filing only announces the date.
- Confirm the status of the vessel under charter not listed among the major counterparties (1 of 18 vessels).
- Review the conference call transcript and slide presentation for specific commentary on charter rates and fleet utilization.
- Check for any subsequent filings regarding the registration statement (No. 333-153274) referenced in the document.