In a recent interview, Jerry Kalogiratos, CEO of Capital Clean Energy Carriers Corp. (CCEC), provided a detailed overview of the company's strategic transformation towards LNG shipping. The strategic shift, formalized in late 2023, was supported by a $500 million rights offering and the conversion to a C corporation structure, positioning the company for capital-efficient growth.
CCEC aims to become the largest U.S.-listed LNG fleet by 2026, currently operating 12 LNG carriers with 6 newbuilds under construction, and an additional 10 specialized gas carriers for LPG, ammonia, and liquid CO2 expected over the next 18 months. The company emphasizes its two-stroke LNG carriers with reliquefaction systems, which offer 40-50% better daily economics and 20-30% lower emissions compared to older vessels.
The company maintains a robust balance sheet with $420 million in cash and leverage below 50%, expected to peak around 60% with newbuild deliveries. CCEC's disciplined chartering strategy is evidenced by its $3.1 billion contracted revenue backlog, providing strong earnings visibility. The company is strategically withholding 4 of its 6 newbuilds from long-term commitments to capitalize on anticipated market tightening in 2027-2028.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.