October 27, 2017 / 11:48 AM / 2 years ago

BRIEF-Capital Product Partners Q3 earnings per share $0.05

Oct 27 (Reuters) - Capital Product Partners LP:

* 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: Further company coverage:

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