Capital Clean Energy Carriers Corp. (NASDAQ:CCEC) announces the purchase of shares valued at approximately $2-3 million in a joint venture company operating the LNG carrier Amore Mio I, effective from the first quarter of 2027.
Joint Venture Structure and Ship Details
The joint venture holds 51% ownership by CCEC and 49% by an affiliate of BGN Group. This 174,000 cubic meter LNG carrier, completed in 2023, operates under a 10-year charter with BGN INT DMCC upon delivery. The agreement features two optional three-year extensions.
Should both extensions activate, the contract generates total revenues of up to $4.0856 billion through 2043. The vessel’s base charter rate adjusts for inflation each time.
Ownership and Operations
The joint venture operates through BM Capital HoldCo LLC in the Marshall Islands, with ultimate ownership by BM Capital LLC. CCEC CEO Jerry Kalogiratos states that the deal enables partnerships with energy growth players and expands the company’s charter portfolio. He emphasizes the revenue potential and commitment to a sustainable fleet.
Stock Performance and Market Position
CCEC shares have surged 80.66% year-to-date over the past 12 months, trading at a P/E ratio of 9.95. Current valuation appears fair based on available analysis.
Ozan Turgut, from BGN Shipping, describes this as BGN’s inaugural investment in an LNG vessel. BGN aims to expand its fleet with two LNG carriers by 2027 and ten LPG carriers by 2028.
Fleet Expansion Impact
Following the deal, CCEC’s average LNG charter duration stands at 6.9 years, with a contract backlog of $29 million as of March 2026. Full extension exercise extends this to 9.9 years and $43 million in total value. The company maintains a 3.11% dividend yield and a 20-year history of dividend payments.
CCEC’s fleet comprises 12 LNG carriers, one LCO2/methane gas carrier, and one container ship, totaling 14 vessels. This acquisition addresses rising demand in the shipping sector.
