Capital Product Partners L.P. (NASDAQ:CPLP) Q4 2022 Earnings Conference Call February 3, 2023 9:00 AM ET

Company Participants

Gerasimos Kalogiratos - Chief Executive Officer

Conference Call Participants

Omar Nokta - Jefferies Research Services, LLC

Liam Burke - B. Riley Securities

Operator

Thank you for standing by, and welcome to the Capital Product Partners’ Fourth Quarter 2022 Financial Results Conference Call. We have with us Mr. Jerry Kalogiratos, Chief Executive Officer of the company. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions] I must advise you this conference is being recorded today.

The statements in today's conference call that are not historical facts, including our expectations regarding cash generation, equity returns and future debt levels, our ability to pursue growth opportunities, our expectations or objectives regarding future distribution amounts, capital reserve amounts, distribution coverage, future earnings, capital allocation as well as our expectation regarding market fundamentals and the employment of our vessels, including redelivery dates and charter rates, may be forward-looking statements, as such as defined in Section 21E of the Securities Exchange Act of 1934 as amended.

These forward-looking statements involve risks and uncertainties that could cause the stated or forecasted results to be materially different from those anticipated. Unless required by law, we expressly disclaim any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in our views or expectations to conform to actual results or otherwise. We assume no responsibility for the accuracy and completeness of the forward-looking statements. We make no predictions or statements about the performance of our common units.

I would now like to hand over to your speaker today, Mr. Kalogiratos. Please go ahead, sir.

Gerasimos Kalogiratos

Good morning and thank you all for joining us today. As a reminder, we will be referring to the supporting slides available on our website as we go through today's presentation. Since the end of the third quarter of 2022, we have taken delivery of two 13,000 TEU newbuilding eco-container vessels, both with long-term employment in place. I remind you these are the first two of a total of three 13,000 TEU eco-container vessels we agreed to acquire last year.

In addition, we agreed to acquire latest generation LNG carrier, which is expected to be delivered to us later this month, and whose charters have exercised an option to extend the firm charter period from five to seven years.