Capital Clean Energy Carriers Corp
NASDAQ:CCEC
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Capital Clean Energy Carriers Corp
NASDAQ:CCEC
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Capital Clean Energy Carriers Corp
Capital Clean Energy Carriers Corp is a GR-based company operating in Marine Transportation industry. The company is headquartered in Athina, Attiki. The company went IPO on 2007-03-30. Capital Product Partners LP is a Greece-based international owner of ocean-going vessels. The firm's fleet consists of 22 vessels, including 11 Neo-Panamax container carrier vessels (1.1 million DWT and total TEU capacity of 90,889), three Panamax container carrier vessels (0.2 million DWT and total TEU capacity of 15,267), one Capesize bulk carrier vessel (0.2 million DWT) and seven LNG carrier vessels (0.6 million DWT and total capacity of 1.2 million CBM), with a DWT weighted average fleet age of approximately 7.2 years as at March 31, 2023. The firm's container and LNG carrier vessels are chartered under medium- to long-term charters.
Capital Clean Energy Carriers Corp is a GR-based company operating in Marine Transportation industry. The company is headquartered in Athina, Attiki. The company went IPO on 2007-03-30. Capital Product Partners LP is a Greece-based international owner of ocean-going vessels. The firm's fleet consists of 22 vessels, including 11 Neo-Panamax container carrier vessels (1.1 million DWT and total TEU capacity of 90,889), three Panamax container carrier vessels (0.2 million DWT and total TEU capacity of 15,267), one Capesize bulk carrier vessel (0.2 million DWT) and seven LNG carrier vessels (0.6 million DWT and total capacity of 1.2 million CBM), with a DWT weighted average fleet age of approximately 7.2 years as at March 31, 2023. The firm's container and LNG carrier vessels are chartered under medium- to long-term charters.
Market spike: Spot LNG rates surged in Q4, briefly topping $100,000/day and spiking to ~ $300,000/day for some March/April loadings after the Middle East disruption, prompting strong short-term demand for modern vessels.
Fleet strategy: Continued pivot from containers to gas — 14 container sales in 24 months, one container vessel remains; completed delivery of the Active (22,000 m3 liquid CO2 multi-gas carrier).
Order activity: Contracted 3 latest-technology LNG carriers (deliveries: one in Q4 2028, two in Q1 2029) and increased share of open newbuild order book (6 of 30, ~20%).
Balance sheet: Cash of $296 million and net leverage just short of 49%; raised a EUR 250 million unsecured bond (management referenced earlier a EUR 200 million bond listing as well).
Cash returns: Reported net income from continued operations of $28.4 million for Q4 and paid a fixed quarterly dividend of $0.15/share (75th consecutive quarter).
Newbuild funding & drydock costs: Expect average ~70% debt financing for LNG newbuilds; guidance for drydock cash cost ~ $5 million each and ~20–25 days off-hire.
