Capital Product Partners has announced its agreement to purchase 11 newbuild liquefied natural gas (LNG) carriers from Capital Maritime for approximately $3.13 billion. The move is part of the partnership's strategic shift to focus on the growing LNG sector amid the global energy transition.

Upon the completion of the transaction, Capital Product Partners plans to explore the potential sale of its container vessels, redirecting its primary attention to LNG carriers. The partnership aims to capitalize on the expanding demand for LNG transportation as countries transition towards cleaner energy sources.

As a reflection of this shift, Capital Product Partners intends to undergo a comprehensive rebranding, changing its name to Capital New Energy Carriers by the end of the year. Additionally, the partnership plans to convert its legal structure from a Marshall Islands limited partnership to a corporation.

Jerry Kalogiratos, Chief Executive of Capital Product Partners, emphasized that this acquisition will position the partnership as one of the largest owners of the latest-generation LNG carriers among U.S.-listed companies. The move underscores the growing significance of LNG in the global energy landscape and aligns with the partnership's strategic vision for the future.