CCEC News & Events

Capital Clean Energy Carriers (CCEC) announced the formation of a joint venture company with CMA CGM. Each party will hold a 50% ownership stake in the joint venture, which has been established for the purpose of constructing, chartering, and operating one 20,000 cbm dual-fuel LNG bunkering vessel. The joint venture marks CCEC's entry into the LNG bunkering segment, the company's first vessel dedicated to marine fuel supply. In connection with this transaction, the joint venture has entered into a shipbuilding contract with Nantong CIMC Sinopacific Offshore & Engineering for the construction of the vessel at a contract price of $82.8M, with delivery expected in the third quarter of 2028. In addition, the joint venture is expected to enter into a 12-year time charter with a joint venture company formed between CMA CGM and TotalEnergies (TTE), commencing upon delivery of the vessel from the shipyard.

Reports Q1 revenue $98.01M, consensus $103.12M. Jerry Kalogiratos, Chief Executive Officer of CCEC, commented: "During the first quarter, the Company continued to deliver on our strategy to build a leading gas transportation platform, generating both robust cash flows and further strengthening our financial position through a successful bond offering. Post quarter end, we executed an innovative transaction, which not only highlighted our ability to attract a co-investment with a major energy trading partner, but also enhanced the quality and diversification of our charter portfolio."