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Capital Clean Energy Carriers Corp.(CCEC) - 2024 Q4 - Annual Report
2025-04-17 21:15
Financial Position - As of December 31, 2024, total cash and cash equivalents were $336.5 million, with restricted cash amounting to $22.5 million [463]. - Total shareholders' equity increased to $1,342.9 million as of December 31, 2024, reflecting a net income of $193.6 million for the year [470]. - Total borrowings as of December 31, 2024, were $2,598.3 million, up from $1,690.4 million in 2023 [491]. Cash Flow - Net cash provided by operating activities for the year ended December 31, 2024, was $194.5 million, an increase of $104.0 million compared to 2023 [481]. - Cash proceeds from financing activities for the year ended December 31, 2024, were $742.3 million, primarily from new financing arrangements [488]. Investment Activities - Net cash used in investing activities for the year ended December 31, 2024, amounted to $1,201.2 million, primarily for vessel acquisitions [484]. - Future minimum charter hire receipts for 2025 are projected at $400.9 million, contributing to a total of $2,248.7 million through 2029 [467]. - The company entered into an Umbrella Agreement for the acquisition of Newbuild LNG/C Vessels for a total price of $3,130.0 million [471]. - The company expects to pay an additional $582.3 million for the Remaining Vessels, with expected deliveries between Q3 2026 and Q1 2027 [473]. Financing Arrangements - The vessel-owning company entered into a new credit facility with BNP for up to $192.0 million to partially finance the construction of the LNG/C Apostolos, fully drawn in June 2024 [495]. - A sale and lease back agreement of up to $240.0 million was established for the full repayment of the 2024 – LNG/C Apostolos credit facility, with a duration of eight years [495]. - The LNG/C Aktoras credit facility was secured with Piraeus for up to $240.0 million, fully drawn in June 2024, with a duration of seven years [496]. - Amendments to sale and lease back agreements with Bocomm reduced interest and extended maturity by two years, involving initial indebtedness of $148.9 million and $155.4 million for LNG/C Aristos I and LNG/C Aristarchos respectively [497]. - A new sale and lease back agreement of up to $240.0 million was entered into for the acquisition of shares of the LNG/C Assos, fully drawn in May 2024 [498]. - A credit facility with ING for up to $190.0 million was established for the LNG/C Axios II, fully drawn on January 2, 2024, with a duration of seven years [499]. - The Seller's Credit with Capital Maritime amounted to $220.0 million, with $92.6 million utilized upon delivery of LNG/C Axios II, and subsequent repayments reduced the unutilized amount to $42.2 million by June 2024 [500]. - The 2023 CMBFL - LNG/C AMI involved a $196.3 million sale and leaseback transaction with a 10-year tenor and a repurchase option after the first anniversary [502]. - A new syndicated credit facility of up to $100.0 million was secured for the acquisition of M/V Buenaventura Express, fully drawn on June 15, 2023, with a duration of eight years [503]. - Financing arrangements require maintaining a minimum free consolidated liquidity of at least $0.5 million per collateralized vessel and a ratio of EBITDA to net interest expense of at least 2.00 to 1.00 [511]. Future Plans - The company plans to continue evaluating opportunities for vessel and business acquisitions, subject to financing availability [469].
Capital Clean Energy Carriers Corp. Joins MIT Maritime Consortium as Founding Member to Advance Research and Development of Groundbreaking Technologies
GlobeNewswire· 2025-03-26 20:05
Core Viewpoint - Capital Clean Energy Carriers Corp. (CCEC) has joined the MIT Maritime Consortium as a Founding Member, collaborating with key maritime stakeholders to develop innovative technologies aimed at enhancing industry competitiveness and reducing environmental impact [1][2][3]. Group 1: Consortium Objectives and Technologies - The consortium focuses on developing technologies for nuclear propulsion, alternative fuels, data-driven operational strategies, autonomy, cybersecurity, and on-board manufacturing of spare parts [2][3]. - The initiative aims to address emissions in the maritime shipping industry, which currently accounts for 2% of global energy-related CO2 emissions while transporting 90% of world cargoes [2][3]. Group 2: Member Contributions and Goals - CCEC aims to leverage its operational expertise and diverse fleet to contribute to the development of AI-driven models and technological solutions for optimizing ship efficiency and predictive maintenance [6][7]. - The consortium seeks to create competitive advantages through novel engineering solutions, including advanced data analytics, autonomy, and 3D printing technologies [4][5]. Group 3: Industry Impact and Future Vision - The collaboration is expected to drive transformative change in the maritime industry, fostering innovation and resilience against challenges while promoting a sustainable future [7][8]. - The consortium's long-term goal is to enable the development of novel technology and policy innovations that will help meet emissions objectives [5][6].
Capital Clean Energy Carriers Corp. Announces Participation in Capital Link’s Investor Conference in New York on Monday, March 31, 2025
GlobeNewswire· 2025-03-18 13:00
ATHENS, Greece, March 18, 2025 (GLOBE NEWSWIRE) -- Capital Clean Energy Carriers Corp. (NASDAQ: CCEC), an international owner of ocean-going vessels, today announced that it will participate in the 19th Annual Capital Link International Shipping Forum on Monday, March 31, 2025, at the Metropolitan Club in New York City. During the forum, the senior executive team will be available for one-on-one meetings with institutional investors. The 19th Annual Capital Link International Shipping Forum is a leading eve ...
Capital Clean Energy Carriers Corp. Announces Participation in Capital Link's Investor Conference in New York on Monday, March 31, 2025
Newsfilter· 2025-03-18 13:00
ATHENS, Greece, March 18, 2025 (GLOBE NEWSWIRE) -- Capital Clean Energy Carriers Corp. (NASDAQ:CCEC), an international owner of ocean-going vessels, today announced that it will participate in the 19th Annual Capital Link International Shipping Forum on Monday, March 31, 2025, at the Metropolitan Club in New York City. During the forum, the senior executive team will be available for one-on-one meetings with institutional investors. The 19th Annual Capital Link International Shipping Forum is a leading even ...
Capital Clean Energy Carriers Corp. (CCEC) Q4 Earnings Meet Estimates
ZACKS· 2025-02-06 14:56
Financial Performance - Capital Clean Energy Carriers Corp. reported quarterly earnings of $0.36 per share, matching the Zacks Consensus Estimate, but down from $0.61 per share a year ago [1] - The company posted revenues of $102.52 million for the quarter, missing the Zacks Consensus Estimate by 5.61%, compared to $92.5 million in the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [1][2] Market Performance - Capital Clean Energy Carriers Corp. shares have increased approximately 4.3% since the beginning of the year, outperforming the S&P 500's gain of 3.1% [3] - The company's current Zacks Rank is 4 (Sell), indicating expected underperformance in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.48 on revenues of $107.89 million, and for the current fiscal year, it is $1.67 on revenues of $429.5 million [7] - The Transportation - Shipping industry, to which the company belongs, is currently ranked in the bottom 6% of over 250 Zacks industries, which may negatively impact stock performance [8]
Capital Clean Energy Carriers Corp. Announces Fourth Quarter 2024 Financial Results
GlobeNewswire· 2025-02-06 12:30
ATHENS, Greece, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Capital Clean Energy Carriers Corp. (the “Company,” “CCEC” or “we” or “us”) (NASDAQ: CCEC), an international owner of ocean-going vessels, today released its financial results for the fourth quarter ended December 31, 2024. Key Quarterly Highlights Announced dividend of $0.15 for the fourth quarter of 2024Concluded the sale of three debt-free container sister vessels In November 2023, the Company announced its decision to shift its strategic focus towards th ...
Capital Clean Energy Carriers Corp. Schedules Fourth Quarter 2024 Earnings Release, Conference Call and Webcast
Newsfilter· 2025-01-30 16:00
Core Viewpoint - Capital Clean Energy Corp. (CCEC) is set to release its financial results for Q4 2024 on February 6, 2025, followed by an interactive conference call to discuss these results [1]. Group 1: Financial Results Announcement - CCEC will announce its financial results for the fourth quarter ended December 31, 2024, before the NASDAQ market opens on February 6, 2025 [1]. - An interactive conference call will be held on the same day at 9:30 a.m. Eastern Time to discuss the financial results [1]. Group 2: Conference Call Details - Participants are encouraged to dial in 10 minutes prior to the call using the US Toll-Free number 877 405 1226 or the international number +1 201 689 7823, quoting "Capital Clean Energy" [2]. - There is an option for participants to register for the call using a "call me" feature for a quicker connection [3]. Group 3: Webcast and Presentation - A live and archived webcast of the conference call will be available on the company's website, along with accompanying slides [4]. - Participants should register on the website approximately 10 minutes before the start of the webcast [4]. Group 4: Company Overview - Capital Clean Energy Carriers Corp. (CCEC) is a leading international shipping company focused on gas carriage solutions and energy transition [5]. - The company operates a fleet of 16 high specification vessels, including 12 latest generation LNG carriers and four Neo-Panamax container vessels, with plans to sell one vessel in Q1 2025 [5]. - CCEC has six additional latest generation LNG carriers, six dual-fuel medium gas carriers, and four handy liquid CO2/multi-gas carriers under construction, expected to be delivered between Q1 2026 and Q3 2027 [5].
Capital Clean Energy Carriers Corp. Declares Quarterly Dividend
GlobeNewswire· 2025-01-23 14:00
ATHENS, Greece, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Capital Clean Energy Carriers Corp. (NASDAQ: CCEC) today announced that its board of directors has declared a cash dividend per share of $0.15 for the fourth quarter of 2024 ended December 31, 2024. The cash dividend for the fourth quarter of 2024 will be paid on February 12, 2025, to common shareholders of record on February 6, 2025. About Capital Clean Energy Carriers Corp.Capital Clean Energy Carriers Corp. (NASDAQ: CCEC), an international shipping compan ...
UPDATE -- Deep Dive into Capital Clean Carriers Energy Corp. Webinar
GlobeNewswire News Room· 2024-12-11 22:42
NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- In the context of Capital Link’s Deep Dive Series, Mr. Jerry Kalogiratos, CEO of Capital Clean Energy Carriers Corp. (NASDAQ: CCEC), joined Mr. Nils Thomessen, Deputy Head of Fearnley Securities, for an in-depth discussion on CCEC’s development, objectives, strategy and sector outlook. CCEC is positioning as a premier carrier of various forms of gas to industrial customers, including LNG, and new commodities emerging as the result of the energy transition. Key hig ...
Capital Clean Energy Carriers Corp. Announces Results of Its Annual Meeting of Shareholders
GlobeNewswire News Room· 2024-12-11 21:05
ATHENS, Greece, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Capital Clean Energy Carriers Corp. (NASDAQ:CCEC) (the “Company”) today announced that it held its Annual Meeting of Shareholders in Piraeus, Greece on December 5th, 2024. At that meeting: The current eight directors of the Company were re-elected to serve until the 2025 Annual Meeting of Shareholders, and until their successors are elected and qualified; andThe appointment of Deloitte Certified Public Accountants S.A., as independent registered public accou ...