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in in highly Carriers acquire exceeding $X.X We are to place, for past and during value. with transformative as put strategic have long-term that few the agreed transactions months, very Latest to in the excited six, two we have billion Generation employment together managed we total partnership LNG
exchange million those to delivered year Underpinning X.XX% a transaction the of the tenure. of announced on the we and a million. coupon issuance unsecured bond successful EURXXX in approximately carriers fleet quarter $XXX and in early of remaining X-year Senior additional earlier the XXXX. with joined was or and fixed this Athens first LNG The carriers highly of this fourth two three four be to the LNG expect particular, acquisition within our September,
of On the during the the third see quarter with of to million performance for quarter partnership's the partnership are $XX.X income as strong $X.X financial last was net million to of income XXXX for the net we earnings third the the year, compared front, of quarter pleased compared same period of the third continued XXXX XXXX.
has quarterly XX, cost average for launching common February record allocation million as Our operating repurchased to which capital of unit of the unit. the unit cash will of and of surplus XX Board paid repurchase November per $XX.XX since $XX.X reserve. we $X.XX third million or after the the common Directors was The X. on units declared per November third partnership's at XXX,XXX quarter of quarter, for on a Separately $XX.X common be to of September distribution the XX unitholders plan on the an
including Finally, the fleet duration LNG remaining XX%, partnership's charter coverage at corresponds for to stands the years. the XXXX, X.X charter while
Slide The Voyage to expenses vessels our $XX.X net expenses during by the of to days in compared Revenues million three of increase $XX.X announced to million quarter compared for was the were May. the Panamax of early to our increase third offset our quarter in press mainly of vessel the to due in and $X.X to partnership in million during that third the partly revenue last was X, of was for of decrease and last finance our increase quarter fleet classification together of was surplus our offset million increase marginally third three third million our XXXX. $X.X XXXX expenses is the in $XX.X during of September XXXX quarter. of release. incurred included net time by XXXX $XX.X third and of partnership's million the to acquisition compared the third to is February quarter following the expenses also for the income fees The to in of compared the XXXX. container see of XXXX. respective mainly Total charters the depreciation employed quarter the our August quarter third a Total two of the the the The vessel as expense which quarter the held third And connection attributable increase and to details were of the previous in $X.X in of attributable X. rate On LNG carriers quarter outstanding the of in Slide $XX.X expenses attributable offset $X.X which increased period vessel vessels, third the increase fleet, compared the with by to increase interest due Interest calculations XXXX, our of the the net third in for during $XX.X defined primarily certain vessel net million in indebtedness of of and and for to Turning fully our million quarter quarter to LIBOR in the sale. in you as to the containers costs the general operating in $X.X size increase was the partly total of for mainly to of amortization third of vessels quarter compared the for weighted to compared distributions sale year. compared quarter the $X amounted for average during costs carriers amortization amortization size the $X.X quarter last decrease to for fleet. $XX million recorded quarter Operating net fleet Total the to XXXX. third of and in million the of deferred The under a acquisition the Adonis $XX.X XXXX. financial of the quarter XXXX. net charters amortization year. in increased number LNG million acquired of million size of quarter the year. determine income administrative XXXX. in we quarter voyage increase third in with the of The million the the expenses to million compared G&A unit surplus one $X.X in in depreciation the third the of holders to quarter one our non-GAAP can compared to incurred the as million fourth during operating drydocking million measure, amounted the
After Slide acquisition $X.X the generated reserve, to carriers previous $XX.X have the adjusted of cash see an reserve, surplus debt September of in the resulting operations X, increase XXXX. $XX.X balance LNG the approximately for quarter details compared two to for adjusting the amortization We allocated the capital you million. sheet. increased the our to to for before in quarter million We the On capital from due can capital of million $XX.X million accounting from operating amounted reserve. the
distributions of reflects million, by the million million issued indebtedness of September of million, to $XX.X financing which payments as vessels of ended container and Capital financing repayment, The the X, in compared Aristarchos debt February. on the of the common container vessels the the total million Aristos the assumption for of increased respective the $XX.X Total minimum LNGs in net and third the $XXX.X scheduled of partly to of cash leaseback our incentive additional cash fair the represents the end and form year-end million increase quarter. Panamax to and $X during and units. repurchase XXXX. arrangements. quarter, connection quarter $XX.X of months million, $XXX declared the connection equity the million part of back period of the with As and with and the acquisition acquisition in million, of in offset sale our of of the of September sale their the acquisition principal to offset of XXXX. May was million and million paid total the $XXX.X of debt by common to X amounted income an $XXX.X partly liquidity the The under Total increase the and $XXX.X X the one amount debt the including Partners' financing representing restricted value LNGs increase million to of of the two an units in $XX.X the sellers of amounted the with of requirement for is end of by amortization of during The XX, compared as attributable million associated increase $XXX as $XX.X $XX year-end as the paid the partnership's $XX in plan, consideration three form million
Turning to Slide X.
X-stroke late once saving delivered of reliquefaction we years system, and X time FLEX within of day. agreed day three approximately to other expected the the rate the while the X, X.X deliver and container lubrication delivery we efficiency vessels we the with to long-term Aristarchos, new devices vessel, among in average On charter which energy with average and XDF the and and charters including increases BP of capacity vessels, fourth remaining to acquire quarter its September specification, three the X with an owner. carriers is the Mark XXXX under announced of high are Aristidis The XX,XXX and Cheniere, per energy Aristos out two pass namely As LNG August, the Adonis of oil of duration be X vessel. air took
Moving to Slide X.
bonds semi-annually. is was and Athens as at subsidiary on acquisition exceptionally X.X The the the As the of use successfully we raising financing million. identified bond three was importantly, was high X, financing, range any it The you its diversifies acquire of oversubscribed Holdings not X.XX%. than attractive secured proceeds bond of million equity demand to partnership in mature can from for current arrangements XXXX value as are key and terms which issuance highly capital, further a successful guaranteed execute three LNG of yield our exceeding plan the The it will by has The placed of low October also the first interest through the vessels. the with equal on in ratio placement bonds, wholly-owned are us had additional own should been when coupon financial business the the only EURXXX we cost XX partnership end of times a see less PCL, a issued ratio net the adjusted senior option, Shipping based CPLP bond. EBITDA on carriers on Hence, as Slide bond to unsecured Of without the with October debt-to-market book previously the as payable the of assets the be overall reported, our X EURXXX of total of the coupon to On be allows the sources no it Company's covenants while covenants an less note, agreed for should capital. with net an the XX%, but times.. exchange. line adjusted or expense to under
X. Turning to Slide
million XX,XXX revenues contracted expected remaining charter BP duration per includes is and at Engie, vessel, to exercised an XX. three million LNG LNGs have granted vessels with the to We same The which XXXX X.X time with $XXX from first are daily announced per acquired that August built and the of have day. three vessels. are and years, of are pleased connection aggregate All the BP, shipyard an three case option are periods. delivered additional of respectively, approximately the like average XDF the and of LNG announce the high-specification on in three Charters the been in $XXX.X average acquire be original the carriers in two to the acquisition we three the vessels rate approximately sister of Cheniere, first charter price to optional
Moving XX. to Slide
a would impact that XX than to options. in CPLP the XX at charters In BP expanding months flow of particular, we new, the the illustrated highly thereafter. to all term to period use to are are next is to through employment forma X We basis can compared estimates fleet rates which to on pro taking reserves, including carriers specification, the the latest and XXX% with original account medium forma partnership's acquisition $XXX.X cash In that $XX.X basis has is charters by like two rate structure six the our of metrics. transactions, have forma $XXX.X months, been $XXX.X for fleet. that as XX% to increase. as is expect over newly per pro two-stroke average with LNG based after debt that the whereby initial I lower here transformative brand we million are last unit, amortization to expected million rate used cost, first a the proxy average to impact that numbers pro a have high or generation a to expected strategic set ships, increase average and while are simply note the across surplus Please higher words, on bond. EBITDA increase and service after that distributable the the for duration higher Operating and place delighted on $XXX.X of these transformative X the to other the is from stress a the by revenue the compared be and generated existing impact six longer our figures not next to is charter the a the representing $X.XX to of fleet, remaining Again, years and estimated over XX% increase million much issued be million, into over the expected by expected using on
impact the expected going these find acquisitions step these double. Slide result change a detailed to of we the we differ in the disclosure fleet a highlight materially to is may but our actual Hence, valuation the On believe to will of magnitude footnote. value that as from wanted You'll of partnership's the in numbers, XX, results forward. book
will regulatory years to brings the framework to XX Importantly, longer typically increasingly new than container This book of as value have of an in types. and XX to years younger XX.X modern the be energy-efficient note goal should dry years and average. as the LNG also vessel over depreciate a result, us useful average with other the we will I age XX of view X fleet carriers our regard years to and to reduced from controlling accomplishing emissions. greenhouse compared be that our here life industry X.X fleet compared bulk And vessels. of closer the a for September
back basis a what are more provides revenue well approximately The charter contracted to unitholders revenue as existing from partnerships can off carrier we could X.X Turning vessels charters. acquisition, an XXXX challenging X.X breakdown years On you contribution addition billion, our remaining charter container charge the thus Slide to be to our contracted giving with will coming Slide from of of XX. our revenue The of duration the to years vessel experiencing six LNG increased to increased per-year of a XX, see contracted when the XXX% in our our today. on contracted incremental also increase what container $X.X many approximately by start each us revenue our on cash compared visibility. onwards, flow a of Overall, market fleet. fleet as
our the Importantly, container remains approximately LNGS, for charters. and to when while secured for to the XXXX, off addition contracted $XXX vessels with contracted certain we revenue of XXXX, of significant at expected revenue $XXX their of six million million are have high roll close XXXX
Cheniere pleased seven namely also having and base our are counterparties, addition now the consists three We portfolio investment-grade with that customer of Engie. of charters, diversified high-quality charter our BP,
represents compliant footprint acquisition with time. very vessels LNG that partnership's turning footprint are of requirements, generation XX. we not the a with latest XX% LNG our reducing least, and environmental these Last against the able lowest already provide high they The while six execute We're customer of revenues. to our our energy-efficient the in plan pleased about XXXX largest Slide and now BP very to short of in Importantly, but for environmental accounts contracted transportation. carriers are
carbon oxide gas by engines nitrous drive sulfur contain no AER compared while of particular of while XX% XX%, our fuel. fleet that natural so not expected NOx engines these least ratio average drop six at the AER conventional or reduce emissions to or emissions, the Low-pressure sulfur, as of to XXX% are emissions. emissions X%. it fall the is by the compared fuel we the by fleet. about dioxide to terms matter be the estimate a efficiency vessels, the addition to with to Overall, XDF six of XX% average like propulsion does that there average the vessels XX% In And vessels, CPLP reduction, delivers oxide lower
turning Now XX and LNG charter market. to the Slide
quarter as different of The third prices to favorable primarily with a majors for finest European during opened under sporadically arbitrage the the the high securing trend With companies quarter increasingly contracts. continuation of been the cargos market. medium quarter, flowed long-term XXXX, during LNG we During well energy being shipping as geographical second to the started between most saw the and that LNG relative pricing third Europe shipping. regions gas has
in day. the above Coming which competing remain charters day, could As East we Far $XXX,XXX XXX,XXX further trading, is winter. longer to with TFT previous LNG the charter exacerbated winter, heavy available carriers LNG only requirements, a to cubic further by X-stroke of XX,XXX increase, vessels be as the spread secure with of spot generation per increasing are for we for transported almost LNG to shipping per handful price cargoes vessels their to more expect the demand Currently, X-year distances. across increase expect
last on at chain limited demand in remained million driving Momentum of highs issues decision the which unresolved. very in business. Overall, secured new available rates the shipyars supports The market levels average building, modern cause the upward now summer million we deliveries, as during the charter increased less the across to the while strong with example, first On new container out is XX increase of charter's as market. LNG of worth an demand $XXX building current orders long-term supply acquisition the It from $XXX to year-to-date, period XX ordering, quarter of and to months, projects enter and long-term vessel XXXX engines long-term review capacity, acquisitions sea multiyear to to coverage very the ships. $XXX modern fleet as, for XX% currently with order Qatar year our earlier as has the LNG vessels charters XX, interest ordering the price that for for compares estimated in have year market, period increase building XX much new Energy limited vessel favorably also continuing $XXX is last The supply to the range. led rates with firm fleet, Slide to and next speculation. in liquefaction for of compared commitments. the prices is now expect record card only with tonnage well XX charter The segments. all charters equipped of XXX less LNG and momentum for substantially the were a The new reducing robust over order Slide shipyard, all-time are remains close few Hudong all new an across to or stands two-stroke delivery of for Turning a number the charters the price placing at remain implied than on XX we tonnage tender the reaching million as mainly than high XXXX are vessels noting large this million book SPAs with but new against six placed our limited container to vessels price third onwards.
pendum XX. tramp record to During supported congestion disruption, reached the demand, on the day, remained the and has widespread $XXX,XXX trade of order level by October the to up to while book while global conditions. XX% vessels quarter, for port increase, very saw economic around cause has continue in TEU Significant XX%, X,XXX we Box continued Seaborne to come the container standing to stimulus very has including vessel market, from Orders strong, SCFI quarter. Against up a short fixing ordering voyages index new very speculative per container positive previous large owners. the small from vessels, improving at developments continued in
Demolition other TEU growth On in units terms year-to-date to XX,XXX end, TEU XX at and as XXX,XXX TEU respectively, XX X.X% is of next analysts TEU Overall, in versus of decreased expect quarter in units XXXX. is in the expected XX% the grow XX at of while hand, XXXX cancellations, XXXX X.X% XX%, in in to quarter. container decrease year. from XXXX the down XXXX including of slippage X.X% estimated vessel units XXX,XXX stands for by previous and supply and to demand X.X% to and
of Maritime like carriers, with you our that growth Turning have Capital XX,XXX with to XXXX. first of total offer additional container to in thus right and agreed Slide place including of well LNG beyond carriers vessels XXXX, offer the as with The end vessels, acquisition acquire. vessels three market remind we at early would additional on options, XX. from in the of delivery the to number TEU billion, first of approximately giving of the amount the $X I value part have charter further sponsor for three a vessels a have XXXX us negotiation Hapag-Lloyd, as including a we XX-year as potential delivery obtained LNG right which of
of market, over in in it values Finally, unique taking of dislocation the that market the few a months, I of vessels the funding rates, common of that required, is successful with without have placement of a with tapping This the amount top charters. we fundamentals option we that the valuation of effort can acquisition common funding the We to positive rest charter the covered last intend The hand. upward would until pressure and we a return our LNG equity. was view distribution. like gap the the the of to to transaction opportunity in long-term the three of lot we equity believe LNG account into shareholders and most put limited and great cash grow means the and fund segment unit the this scale cash bond assets additional in of short-term and concluded, our at of good to existing in on highlight in
as carriers, However, allocation partners the end of in of January. our phase with the the our growth earlier. LNG the If before intends to all first this accounts Board call six for towards on delivery end year review earnings capital quarterly policy again next not the
cash due have the the common of the time, growth have. I believe down we you that, expect and I'm the combined unit in revision, with happy to at a distribution line. may to in and Given same upward increases answer And strong with an that balance any buybacks free further to questions flow is generation, our while common endeavor, LNG and carriers. we from containers for distribution fleet
