Capital Clean Energy Carriers Corp. Announces the Sale of Five 5,023 TEU Container Vessels
Capital Clean Energy Carriers Corp. (NASDAQ: CCEC) has announced the sale of five 5,023 TEU container vessels. The sale is expected to generate a book gain of $118.4 million. The vessels, all debt-free, will be delivered to their new owners between November 2024 and January 2025. The proceeds will be used to pay down debt and for general corporate purposes.
This move aligns with CCEC's strategy to focus on gas transportation solutions. The company retains exposure to the container market through three 13,300 TEU vessels with long-term charters. CCEC is set to become the largest U.S.-listed LNG shipping company, with 12 LNG carriers currently operational and additional LNG and LPG/Ammonia/LCO2 carriers to be delivered between Q1 2026 and Q3 2027.
Capital Clean Energy Carriers Corp. (NASDAQ: CCEC) ha annunciato la vendita di cinque navi portacontainer da 5.023 TEU. Si prevede che la vendita genererà un guadagno in bilancio di 118,4 milioni di dollari. Le navi, tutte prive di debiti, saranno consegnate ai nuovi proprietari tra novembre 2024 e gennaio 2025. I proventi saranno utilizzati per ridurre il debito e per scopi aziendali generali.
Questa mossa è in linea con la strategia di CCEC di concentrarsi sulle soluzioni di trasporto del gas. L'azienda mantiene un'esposizione al mercato dei container attraverso tre navi da 13.300 TEU con contratti di noleggio a lungo termine. CCEC è destinata a diventare la più grande compagnia di navigazione di GNL quotata negli Stati Uniti, con 12 gasiere di GNL attualmente operative e ulteriori gasiere di GNL e LPG/Ammoniaca/LCO2 da consegnare tra il primo trimestre del 2026 e il terzo trimestre del 2027.
Capital Clean Energy Carriers Corp. (NASDAQ: CCEC) ha anunciado la venta de cinco buques de contenedores de 5,023 TEU. Se espera que la venta genere una ganancia contable de $118.4 millones. Los buques, todos libres de deudas, serán entregados a sus nuevos propietarios entre noviembre de 2024 y enero de 2025. Los ingresos se utilizarán para pagar deudas y para fines corporativos generales.
Este movimiento está alineado con la estrategia de CCEC de centrarse en soluciones de transporte de gas. La empresa mantiene exposición al mercado de contenedores a través de tres buques de 13,300 TEU con contratos de alquiler a largo plazo. CCEC se está preparando para convertirse en la compañía de transporte de GNL más grande cotizada en EE. UU., con 12 buques de GNL actualmente en operación y más buques de GNL y LPG/amoníaco/LCO2 que se entregarán entre el primer trimestre de 2026 y el tercer trimestre de 2027.
캐피탈 클린 에너지 캐리어스(Capital Clean Energy Carriers Corp., NASDAQ: CCEC)는 5,023 TEU 컨테이너 선박 5척의 판매를 발표했습니다. 이번 판매로 $118.4 백만의 재무 이익이 예상됩니다. 모든 선박은 채무가 없으며 2024년 11월과 2025년 1월 사이에 새로운 소유자에게 인도될 예정입니다. 수익금은 부채 상환과 일반 회사 용도로 사용될 것입니다.
이번 조치는 CCEC의 가스 운송 솔루션에 집중하는 전략과 일치합니다. 이 회사는 장기 채권을 가진 13,300 TEU 선박 3척을 통해 컨테이너 시장에 대한 노출을 유지하고 있습니다. CCEC는 현재 12척의 액화천연가스(LNG) 운반선이 운영되고 있으며, 2026년 1분기부터 2027년 3분기 사이에 추가 액화천연가스 및 LPG/암모니아/LCO2 운반선이 인도될 예정으로, 미국 상장 LNG 선사 중 가장 큰 회사가 될 것입니다.
Capital Clean Energy Carriers Corp. (NASDAQ: CCEC) a annoncé la vente de cinq navires porte-conteneurs de 5 023 EVP. On s'attend à ce que la vente génère un gain comptable de 118,4 millions de dollars. Les navires, tous sans dette, seront livrés à leurs nouveaux propriétaires entre novembre 2024 et janvier 2025. Les recettes seront utilisées pour rembourser des dettes et pour des fins corporatives générales.
Cette décision s'inscrit dans la stratégie de CCEC de se concentrer sur les solutions de transport de gaz. La société conserve une exposition au marché des conteneurs grâce à trois navires de 13 300 EVP sous contrats de location à long terme. CCEC devrait devenir la plus grande entreprise de transport de GNL cotée aux États-Unis, avec 12 méthaniers actuellement en opération et d'autres méthaniers et LPG/ammoniac/LCO2 à livrer entre le premier trimestre 2026 et le troisième trimestre 2027.
Capital Clean Energy Carriers Corp. (NASDAQ: CCEC) hat den Verkauf von fünf Containerschiffen mit 5.023 TEU angekündigt. Es wird erwartet, dass der Verkauf einen Buchgewinn von 118,4 Millionen Dollar generiert. Die Schiffe, die alle schuldenfrei sind, sollen zwischen November 2024 und Januar 2025 an ihre neuen Eigentümer übergeben werden. Die Erlöse werden zur Schuldentilgung und für allgemeine Unternehmenszwecke verwendet.
Dieser Schritt steht im Einklang mit der Strategie von CCEC, sich auf Lösungen im Bereich Gastransport zu konzentrieren. Das Unternehmen behält seine Präsenz auf dem Container-Markt mit drei 13.300 TEU-Schiffen, die über langfristige Charterverträge verfügen. CCEC wird voraussichtlich das größte in den USA gelistete Unternehmen für LNG-Transport werden, mit derzeit 12 operativen LNG-Tankern und weiteren LNG- und LPG/Ammoniak/LCO2-Tankern, die zwischen dem ersten Quartal 2026 und dem dritten Quartal 2027 geliefert werden sollen.
- Expected book gain of $118.4 million from the sale of five container vessels
- Proceeds to be used for debt reduction and general corporate purposes
- Strategic alignment with the company's pivot towards gas transportation solutions
- Retention of three 13,300 TEU container vessels with long-term charters until 2032/2033
- Projected to become the largest U.S.-listed LNG shipping company
- Reduction in container vessel fleet size
- Potential loss of revenue from sold container vessels
Insights
The sale of five 5,023 TEU container vessels by Capital Clean Energy Carriers Corp. (CCEC) is a significant strategic move with substantial financial implications. The expected book gain of
The fact that these vessels are debt-free means the entire proceeds can be used to pay down existing debt and for general corporate purposes, potentially improving the company's balance sheet and financial flexibility. This move could lead to reduced interest expenses and improved credit metrics in the future.
CCEC's strategic retention of three 13,300 TEU container vessels with long-term charters extending to 2032-2033 (with options to 2038-2039) provides a stable revenue stream, balancing the portfolio as they transition to gas transportation. The company's expansion in the LNG sector, becoming potentially the largest U.S.-listed LNG shipping company, positions them well in a growing market driven by the global energy transition.
Investors should view this as a positive development, reflecting management's ability to capitalize on market conditions while executing a clear strategic vision. The conversion to a traditional corporate structure further enhances CCEC's appeal to a broader investor base, potentially improving liquidity and valuation multiples.
CCEC's decision to sell these five container vessels is a well-timed move that capitalizes on the current strength in the container shipping market. By divesting these assets at a favorable price point, the company is not only generating significant value but also accelerating its strategic shift towards gas transportation solutions.
The company's focus on LNG and other gas carriers is particularly astute given the growing global demand for cleaner energy sources. With 12 LNG carriers already operational and plans for an additional 6 LNG carriers plus 10 LPG/Ammonia/LCO2 carriers, CCEC is positioning itself as a major player in the energy transition transportation sector.
The retention of three 13,300 TEU container vessels with long-term charters provides a stable revenue base while allowing the company to maintain some exposure to the container market. This balanced approach mitigates risk while allowing for potential upside if container shipping rates remain strong.
CCEC's evolving fleet composition, focusing on latest-generation vessels, suggests a commitment to efficiency and environmental compliance, which is important in the current regulatory landscape. This strategic repositioning should enhance the company's competitive position and potentially lead to premium charter rates and improved profitability in the long term.
- Disposal of five debt-free container vessels, for an expected book gain of
$118.4 million - Proceeds to be used to pay down debt and for general corporate purposes
- Further progress in pivot toward full focus on gas transportation solutions
ATHENS, Greece, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Capital Clean Energy Carriers Corp. (“CCEC”, “we” or “us”) (NASDAQ: CCEC), an international owner of ocean-going vessels, is pleased to announce today it has entered into five memoranda of agreement for the sale of five container sister vessels: the M/V Hyundai Prestige, the M/V Hyundai Premium, the M/V Hyundai Paramount, the M/V Hyundai Privilege and the M/V Hyundai Platinum, (each 63,010 DWT/ 5,023 TEU, container vessel, built 2013, Hyundai Heavy Industries Co., Ltd., S. Korea) to a third party. The vessels are expected to be delivered to their new owners progressively between November 2024 and January 2025.
The total expected book gain from the sale is estimated at
Management have moved methodically but opportunistically to leverage the recent upturn in container market dynamics to generate value for our shareholders. The company retains some container market exposure via three 13,300 TEU container vessels, which we will continue to manage strategically for future value creation, as the economic cycle develops. Shareholders will continue to benefit from the cash flows from these vessels, secured from long-term time charters to 2032 and 2033, with options extending to 2038 and 2039.
Mr. Jerry Kalogiratos, our Chief Executive Officer, said: “With our recent name and ticker change, recognition of the substantial change in company focus, CCEC has, with this accretive sale of five container vessels, delivered further significant progress on our business refocus. With 12 latest generation LNG carriers currently on the water plus the delivery of an additional six LNG carriers and 10 LPG/Ammonia/LCO2 carriers between the first quarter of 2026 and the third quarter of 2027, we expect to become the largest U.S.-listed LNG shipping company and will offer our industrial customers a full range of transportation solutions. Our recent conversion to a traditional corporate structure is intended to position the company as an attractive investment opportunity in the equity capital markets.”
About Capital Clean Energy Carriers Corp.
Capital Clean Energy Carriers Corp. (NASDAQ: CCEC), an international shipping company, is one of the world’s leading platforms of gas carriage solutions with a focus on the energy transition. CCEC’s in-the-water fleet includes 20 high specification vessels, including 12 latest generation LNG carriers (“LNG/Cs”) and eight legacy Neo-Panamax container vessels. In addition, CCEC’s under-construction fleet includes six additional latest generation LNG/Cs, six dual-fuel medium gas carriers and four handy liquid CO2/multi-gas carriers, to be delivered between the first quarter of 2026 and the third quarter of 2027. CCEC has agreed to sell five Neo-Panamax container vessels by the first quarter of 2025.
Forward-Looking Statements
The statements in this press release that are not historical facts, including, among other things, statements related to the conversion from a limited partnership to a Marshall Islands corporation and its effects, the name change, CCEC’s ability to pursue growth opportunities and CCEC’s expectations or objectives regarding future vessel deliveries and charter rate expectations, are 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. For a discussion of factors that could materially affect the outcome of forward-looking statements and other risks and uncertainties, see “Risk Factors” in our annual report filed with the SEC on Form 20-F for the year ended December 31, 2023, filed on April 23, 2024 and the risk factors set out in Exhibit 99.8 to our Report on Form 6-K furnished on August 26, 2024. Unless required by law, CCEC expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, to conform them to actual results or otherwise. CCEC does not assume any responsibility for the accuracy and completeness of the forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements.
Contact Details:
Capital GP L.L.C.
Brian Gallagher
EVP Investor Relations
Tel. +44-(770) 368 4996
E-mail: b.gallagher@capitalmaritime.com
Investor Relations / Media
Nicolas Bornozis
Capital Link, Inc. (New York)
Tel. +1-212-661-7566
E-mail: cplp@capitallink.com
FAQ
What is the expected book gain from CCEC's sale of five container vessels?
When will CCEC deliver the sold container vessels to their new owners?
How many LNG carriers does CCEC currently have in operation?
What is CCEC's strategy regarding its container vessel fleet?
How many new vessels is CCEC expecting to add to its fleet between 2026 and 2027?
