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Navigator .(NVGS) - 2025 Q3 - Earnings Call Presentation
2025-11-05 14:00
Forward Looking Statements This presentation contains certain statements that may be deemed to be "forward - looking statements" within the meaning of applicable federal securities laws . Most forward -looking statements contain words that identify them as forward -looking, such as "may", "plan", "seek", "will", "expect", "intend", "estimate", "anticipate", "believe", "project", "opportunity", "target", "goal", "growing" and "continue" or other words that relate to future events, as opposed to past or curre ...
Capital Clean Energy Carriers Corp. Announces Third Quarter 2025 Financial Results
Globenewswireยท 2025-10-30 12:30
Core Insights - Capital Clean Energy Carriers Corp. (CCEC) reported a strategic shift towards gas transportation, focusing on LNG and new commodities related to energy transition, alongside the acquisition of new vessels and divestment of container vessels [3][4][26]. Financial Performance - For Q3 2025, CCEC's revenues were $99.5 million, a decrease of 2.8% from $102.4 million in Q3 2024. Expenses increased by 5.5% to $49.5 million from $46.9 million [6][17]. - Net income for Q3 2025 was $23.1 million, up 43.5% from $16.1 million in Q3 2024 [6][16]. - Interest expense and finance costs decreased by 30.7% to $26.9 million from $38.8 million year-over-year [6][19]. Strategic Developments - CCEC has secured long-term employment for an LNG carrier under construction, contributing to a total contract backlog of 6.9 years and $3.0 billion in contracted revenues [8][15]. - The company completed the sale of 13 container vessels since December 2023, generating gross proceeds of approximately $694.2 million [26]. Fleet and Operations - The current fleet includes 14 vessels, with 12 being the latest generation LNG carriers and two Neo-Panamax container vessels [4][48]. - CCEC's under-construction fleet consists of six LNG carriers and additional gas carriers, with expected capital expenditures totaling $1,767.1 million [27][29]. Market Context - The LNG shipping market is evolving, with modern two-stroke vessels commanding higher earnings compared to older steam turbine vessels. CCEC's fleet is insulated from spot market conditions until Q3 2026 [38][39]. - The global LNG fleet supply is tightening, with a low orderbook to fleet ratio of 41.2%, indicating a favorable environment for modern LNG carriers [39][41]. Corporate Governance - Recent changes in the Board of Directors include the retirement of Abel Rasterhoff and the appointment of Martin Houston, who brings extensive experience in the LNG market [11][42]. Dividend and Shareholder Engagement - CCEC declared a cash dividend of $0.15 per share for Q3 2025, payable on November 13, 2025 [9][37]. - The company has implemented a Dividend Reinvestment Plan, allowing shareholders to reinvest dividends into common shares [36]. Financing Activities - CCEC secured financing for its under-construction fleet, including a $310.1 million arrangement for six dual-fuel medium gas carriers and a $101.7 million agreement for two LCO2 carriers [31][32]. - As of September 30, 2025, total cash amounted to $332.3 million, with total debt at $2,440.8 million [20][22].