latest news releases from the newsroom
Capital Product Partners L.P.
Capital Product Partners L.P. Completes Acquisition of Product Tanker M/T Attikos
ATHENS, Greece, Sept. 24, 2007 (PRIME NEWSWIRE) -- Capital Product Partners L.P. (Nasdaq:CPLP) announced today that it has completed the acquisition of the 12,000 dwt double-hull product tanker M/T Attikos, built in 2005, for an aggregate purchase price of $23 million from Capital Maritime & Trading Corp., the owner of its general partner. M/T Attikos is chartered to Trafigura Beheer B.V., a large commodities trader based in The Netherlands, with a remaining charter term of approximately 24 to 26 months at a gross rate of $13,850 per day (net rate $13,503). The vessel's operating expenses are fixed for the next 5 years at a daily rate of $5,500, which includes the special survey/dry docking of the vessel due in 2010. Capital Product Partners expects the annual contribution associated with the acquisition of M/T Attikos to the distributable cash flow to be approximately 4 cents per unit. The acquisition was funded by borrowing $20.5 million under the Partnership's existing revolving credit facility and the remaining $2.5 million were contributed from available cash. The debt has been fixed at an interest rate of 5.675% until June 2012. The transaction has been approved by the board of directors of the Partnership following approval by the conflicts committee of independent directors.
RedChip Companies Inc.
RedChip Radio: Exclusive Oil and Gas Interview
ORLANDO, Fla., Sept. 24, 2007 (PRIME NEWSWIRE) -- RedChip Companies, Inc. today announced that Sam Nastat, President and Director of Gulf Western Petroleum Corpration (OTCBB:GWPC), was featured in an exclusive interview with RedChip Radio(tm). The interview included a discussion of the Company's Texas Shamrock Frio Project, proven reserves, as well as short and long-term strategic objectives for the Company.