From GlobeNewswire: 2025-05-08 08:00:00

Capital Clean Energy Carriers Corp. released its financial results for Q1 2025, with key highlights including new long term time charter agreements, increased revenue backlog to $3.1 billion, and a dividend of $0.15 for the quarter. The company shifted focus to gas transportation, acquiring new LNG/Cs and gas carriers while selling container vessels.

Financial results are reported on a continuing operations basis, with revenues increasing by 44% to $109.4 million and net income rising by 486% to $32.8 million. The company’s fleet includes 15 vessels, contributing to the growth in financial performance. With a strategic shift towards gas transportation, CCEC has a strong outlook.

CCEC secured charter agreements for two LNG/Cs under construction, enhancing its contract backlog to 7.3 years with $3.1 billion in revenue. The company’s average remaining firm charter duration is 7.3 years, with potential extensions that could increase this to 10.2 years and total revenues to $4.5 billion. These agreements reinforce CCEC’s position in the gas transportation market.

In Q1 2025, CCEC reported net income from continuing operations of $32.8 million, a significant increase from the previous year. Total revenue reached $109.4 million, driven by the acquisition of new LNG/Cs. Operating expenses rose to $47.5 million, including vessel operating expenses and depreciation. The company’s financial performance reflects its strategic shift towards gas transportation.

As of March 31, 2025, CCEC had total cash of $420.3 million and total shareholders’ equity of $1,414.9 million. The company’s total debt decreased to $2,575.9 million, with a weighted average margin on floating debt of 1.7% over SOFR. CCEC’s strong financial position and strategic focus on gas transportation bode well for its future growth and success in the industry.



Read more at GlobeNewswire:: Capital Clean Energy Carriers Corp. Announces First Quarter