Nasdaq-listed Capital Clean Energy Carriers Corp. (CCEC), controlled by Greek owner Evangelos Marinakis, has agreed to sell the 2023-built 174,000 cbm LNG/C Amore Mio I to a subsidiary of a joint venture company owned 51% by CCEC and 49% by a company affiliated with global energy trader BGN Group in the first quarter of 2027.
The joint venture has secured a 10-year time charter (with two three-year extension options) of the vessel to BGN INT DMCC commencing simultaneously with the acquisition of the vessel and expected to generate aggregate revenues (including all options) of up to approximately $485.6m and extending up to 2043 if all options are exercised.
According to CCEC, the joint venture will be effected through BM Capital HoldCo LLC, a newly formed Marshall Islands limited liability company, in which CCEC holds a 51% interest and BMarine Shipping Investment FZCO holds the remaining 49%. BM Capital LLC, a wholly owned subsidiary of BM Capital HoldCo LLC, will acquire the vessel for $230m.
The existing financing on the vessel is expected to be refinanced upon acquisition of the vessel in the first quarter of 2027.
Jerry Kalogiratos, chief executive officer of CCEC, said: “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.”
As a result of this transaction, as at end March 2026, CCEC will have average remaining firm charter duration for its LNG/Cs of 6.9 years and $2.9bn in contracted revenues, which if all extension options are exercised by the charterers, would increase to average duration of 9.9 years and total contracted revenues of $4.3bn.
CCEC’s in-the-water fleet includes 14 high specification vessels, including 12 LNG carriers, one handy LCO2/multi-gas carrier and one neo-panamax container vessel.
In addition, CCEC’s under-construction fleet includes nine additional latest generation LNG/Cs, six dual-fuel medium gas carriers and three handy LCO2/multi-gas carriers, to be delivered between the second quarter of 2026 and the first quarter of 2029.
