The Nasdaq-listed Capital Clean Energy Carriers Corp. (CCEC) has sealed a chartering deal for its LNG carrier newbuilding Alcaios I, due for delivery later this week. Marinakis-led CCEC said the volatility in gas shipping markets caused by the Middle East tension has allowed the company to capture additional contract coverage at attractive rates for both LNG and LPG carriers. Already, the company has approximately $2.9bn in contracted revenues, which could reach $4.3bn, if all charter options were to be exercised.
The LNG carrier, which is expected to be delivered from the shipyard on July 31, has secured employment under an 18-month index-linked time charter.
The Evangelos Marinakis-led firm said the vessel is expected to be financed with cash on hand together with proceeds of $170m in total to be raised through the refinancing of two existing sale and leaseback facilities of Aristos I and Aristarchos, with the vessel to be added as additional security by way of mortgage. The refinanced facilities have a duration of 10 years.
The shipowner said the volatility experienced in the second quarter of 2026 in gas shipping markets, as a result of the tension in the Middle East, allowed the company to capture additional contract coverage at attractive rates for its LNG and LPG carriers, bringing the average firm contract duration for its LNG/C fleet to 6.5 years and 0.9 years for its LPG/multi gas fleet.
Two more newbuilt vessels, the 174,000 cbm LNG carrier Archimidis and the 174,000 cbm LNG carrier Agamemnon – both built at HD Hyundai Samho – have commenced their respective bridging time charter employment with a major energy company through June 2027.
Upon completion of these charters, each vessel is expected, at the company’s option, commence one of the two previously announced long-term charters, with firm periods of five and seven years, respectively. Both long-term charters carry an additional five-year option, exercisable at the charterer’s discretion.
The LNG carrier Agamemnon is the 14th latest-generation LNG carrier delivered to the company.
Regarding the company’s gas fleet charter portfolio, the company took delivery in April of its second HMG/C, the 22,000 cbm Amadeus, built at HD Hyundai Samho, and the vessel has since commenced a voyage charter on May 21, to be followed by a 12-month time charter.
In June, the company took delivery of the 45,000 cbm MG/C Aristogenis (HD Hyundai Heavy Industries, dual fuel LPG). The vessel commenced a 12-month time charter immediately upon delivery from the shipyard.
On July 23, the shipowner also took delivery of the 45,000 cbm MG/C Aridaios (HD Hyundai Heavy Industries, dual fuel LPG), which is currently expected to trade in the spot market.
Jerry Kalogiratos, chief executive officer of CCEC, commented: “After taking delivery of two LNG/Cs, two HMG/Cs and two MG/Cs since the beginning of the year, our fleet in the water comprises 14 latest-generation LNG/Cs, two HMG/Cs, two MG/Cs and one legacy Neo-Panamax container vessel, with another seven LNG/Cs, two HMG/Cs, four MG/Cs and one LNGB/V on order. This makes CCEC the largest US-listed LNG shipping company with a substantial footprint in the LPG market and contracted fleet growth through 2029. We have a diversified customer base with approximately $2.9 billion in contracted revenues, which could increase to approximately $4.3 billion, if all charter options were to be exercised, providing our investors with cash flow visibility and stability.”
