Capital Clean Energy Carriers Corp. (CCEC) completed the sale of its 2023‑built LNG/C Amore Mio I, a 174,000 cbm vessel, to a subsidiary of a joint‑venture company in which CCEC holds a 51% stake. The $230 million purchase price will be paid by the joint‑venture’s subsidiary, and the transaction is expected to close in the first quarter of 2027.
The sale is coupled with a 10‑year time charter to BGN INT DMCC, a subsidiary of the BGN Group. The charter includes two three‑year extension options, and if all options are exercised, the agreement is projected to generate aggregate revenues of up to $485.6 million through 2043. The long‑term charter provides CCEC with a stable, predictable cash‑flow stream and enhances the diversity and quality of its charter portfolio.
"This innovative transaction enables CCEC to achieve several strategic objectives simultaneously. Firstly, it highlights our ability to attract co‑investment with a major energy trading partner. Secondly, securing a new long‑term charter underscores the enduring strength of the LNG shipping sector for reputable owners operating state‑of‑the‑art LNG carriers. Thirdly, the new charter enhances the diversity and quality of our charter portfolio, provides further balance sheet flexibility and strengthens cash flow visibility for our investors," said Jerry Kalogiratos, CEO of CCEC. The deal aligns with CCEC’s broader shift from container vessels to a gas‑focused fleet, allowing the company to monetize an asset while securing a long‑term employment contract that improves its financial position and investor confidence.
"We are delighted to enter into this landmark agreement with CCEC. This is a major milestone for BGN as we continue to invest in and expand our maritime operations. Taking delivery of our first LNG shipping vessel significantly enhances our fleet capacity and our ability to meet growing demand across our global customer base," said Ozan Turgut, BGN Shipping Director. He added: "BGN has set an ambition to increase its fleet with two new LNG vessels by 2027 and ten new LPG vessels by 2028. I'm pleased to say that taking delivery of the LNG/C Amore Mio I in early 2027 puts us firmly on track to achieve this goal."
CCEC’s Q4 2025 results showed $98.3 million in revenue and $28.4 million in net income, with a gross profit margin of 80.7% and a P/E ratio of 9.95. The company’s fleet now consists of 14 vessels, 12 of which are LNG carriers, and the new charter will raise the average remaining firm charter duration to 9.9 years if all extension options are exercised, boosting contracted revenues to $4.3 billion. The LNG market outlook remains favorable, with anticipated shortages of modern carriers by 2028‑2029, increasing liquefaction capacity, stricter regulations, and the retirement of older vessels, all of which support the long‑term value of CCEC’s modern fleet.
The transaction strengthens CCEC’s balance sheet, provides a predictable revenue stream, and positions the company to capitalize on the growing LNG market while maintaining exposure to a high‑margin, low‑capex shipping segment. BGN’s entry into LNG shipping expands its maritime footprint and aligns with its fleet‑growth ambitions, creating a strategic partnership that benefits both parties in a market poised for continued demand growth.
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