Business Context and Reporting Period
This Form 6-K filing by Capital Product Partners L.P. (CPLP) covers the period ending July 27, 2009. The registrant is a Marshall Islands master limited partnership and an international owner of modern double-hull tankers. The fleet consists of 18 vessels: 15 MR tankers, two small product tankers, and one Suezmax crude oil tanker. All vessels are currently under medium to long-term charters with major entities including BP Shipping Limited, Morgan Stanley Capital Group Inc., Overseas Shipholding Group, Shell International Trading & Shipping Company Ltd., and Trafigura Beheer B.V.
Key Financial Metrics
The filing primarily announces a cash distribution rather than providing a full set of financial statements for the period.
- Cash Distribution: $0.41 per unit for the second quarter ended June 30, 2009.
- Payment Date: August 14, 2009.
- Record Date: August 6, 2009.
- Minimum Quarterly Distribution (at IPO): $0.375 per unit.
The filing text does not provide specific values for revenue, net profit, operating cash flow, margins, debt levels, or liquidity ratios for the second quarter of 2009.
Material Changes
The cash distribution for the second quarter of 2009 remains unchanged from the previous quarter (January 1, 2009 to March 31, 2009), which was also $0.41 per unit. No other material changes to operations or financial status are detailed in this specific filing.
Guidance, Outlook, and Risks
The filing includes a standard disclaimer regarding forward-looking statements. Management notes that such statements involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The company expressly disclaims any obligation to update or revise these statements. No specific guidance on future earnings, fleet expansion, or market outlook is provided in this document.
Investor Verification Checklist
- Verify the record date (August 6, 2009) and payment date (August 14, 2009) for the $0.41 per unit distribution.
- Confirm the status of the 18-vessel fleet and the terms of the medium to long-term charters with BP, Shell, and other counterparties.
- Review the full Annual Report or subsequent 10-Q/20-F filings for detailed revenue, profit, and debt metrics not included in this press release.
- Monitor the stability of the $0.41 quarterly distribution rate against the IPO minimum of $0.375 in future quarters.