SOURCE: Capital Product Partners L.P.

Capital Product Partners L.P.

June 15, 2010 16:05 ET

Capital Product Partners L.P. Announces Successful Chartering of the MR Product Tanker M/T Akeraios for 12 Month Period

ATHENS, GREECE--(Marketwire - June 15, 2010) -  Capital Product Partners L.P. (NASDAQ: CPLP) announced today that it had chartered the M/T Akeraios with BP Shipping Limited for a period of 12 months (+/- 30 days). The charter commenced today, June 15, 2010.

The M/T Akeraios (2007 Hyundai Mipo 47,000dwt ICE Class 1A) was fixed at a net daily charter rate of $12,500 with BP Shipping Limited, and is subject to a profit sharing arrangement, which allows each party to share, at a 50/50 percentage, additional revenues earned for breaching the International Warranty Limits ("IWL").

Ioannis Lazaridis, Chief Executive and Chief Financial Officer of Capital Product Partners' general partner, said, "We are very happy to further extend our successful relationship with BP Shipping, with 8 of our 19 vessels currently under charter with the oil major. As a result of today's announcement the Partnership's fleet charter coverage stands at approximately 82% for 2010 and 49% for 2011, based on available revenue days."

Forward-Looking Statements:

The statements in this press release that are not historical facts, including our expectations regarding charter rates and our expected charter coverage ratios for 2010 and 2011 may be forward-looking statements (as such term is 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 them to actual results or otherwise. We assume no responsibility for the accuracy and completeness of the forward-looking statements. We make no prediction or statement about the performance of our common units.

About Capital Product Partners L.P.

Capital Product Partners L.P. (NASDAQ: CPLP), a Marshall Islands master limited partnership, is an international owner of modern double-hull tankers. The Partnership owns 19 vessels, including 16 modern MR tankers, two small product tankers and one suezmax crude oil tanker. Most of its 19 vessels are under medium- to long-term charters to BP Shipping Limited, Morgan Stanley Capital Group Inc., Overseas Shipholding Group and Capital Maritime & Trading Corp.

For more information about the Partnership, please visit our website: www.capitalpplp.com.

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