Brief: Capital Product Partners Q3 earnings per share $0.05

Capital Clean Energy Carriers

27/10/2017 12:30

Oct 27 (Reuters) - Capital Product Partners LP  CPLP.O : 
    * Capital Product Partners L.P. announces third quarter 2017 
financial results and the successful refinancing of 
substantially all of the partnership's indebtedness 
    * Q3 revenue $62.7 million versus I/B/E/S view $60.5 million 
    * Q3 earnings per share $0.05 
    * Q3 earnings per share view $0.06 -- Thomson Reuters 
I/B/E/S 
    * Capital Product Partners - product tanker spot market 
modestly improved in Q3 versus previous quarter, but rates 
remained at relatively depressed levels 
    * Capital Product Partners LP - expect that co will 
consider a potential reduction in capital reserve from next 
quarter onwards 
    * Capital Product Partners - product tanker spot market saw 
a short-lived increase in oil product movements in wake of 
hurricane Harvey 
    * Capital Product Partners - sentiment in Suezmax spot 
market was "soft" during Q3, as rates further retreated versus 
preceding quarter 
    * Capital product partners- incremental product tanker 
demand in Q3 offset by high tonnage availability following firm 
fleet expansion since start of 2017 
    * Capital Product Partners LP - rapid fleet growth was a 
key factor for weak spot rate environment in Suezmax tanker 
market during quarter 
    * Capital Product Partners-over last few months, OECD oil 
product stocks been decreasing, which bodes well for product 
tanker demand in medium to long run 
 
Source text for Eikon:  ID:nMKWkFlBna  
Further company coverage:  CPLP.O  
 
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