Capital Products buying LNG carriers for $3.13 billion

Capital Product Partners L.P.
CPLP,
+0.54%
said Monday it agreed to buy 11 new ships that carry liquid natural gas (LNG) from Capital Maritime & Trading Corp. and Capital GP LLC for $3.13 billion. Capital Product Partners will re-name itself Capital New Energy Carriers LP, with plans to convert into a corporation specializing in liquid natural gas and energy transition shipping. It also plans to sell non-core container vessels in its portfolio. Capital Product Partners’ stock was up by 1.8% in premarket trades. The stock has fallen by 4.8% in 2023, compared to a 15% rise by the S&P 500
SPX,
+1.56%.