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Capital Clean Energy Carriers (CCEC) investor relations material
Capital Clean Energy Carriers Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Secured a new 10-year charter for an LNG carrier, completed the sale of a 13,300+ TEU container vessel, and obtained full financing for all multi-gas and LCO₂ carriers under construction, supporting the strategic pivot to gas transportation.
Net income from continuing operations was $23.1 million for Q3 2025, up 43.5% year-over-year, with a $0.15/share dividend declared for the 74th consecutive quarter.
Fleet now consists of 12 LNG carriers and 2 container vessels, with container divestment ongoing and proceeds used for debt reduction and reinvestment.
Two LNG carriers completed special surveys ahead of schedule in Q3 2025, incurring $8.8 million in costs and 38 days off-hire.
Board changes include the retirement of Abel Rasterhoff and the appointment of Martin Houston, an LNG industry veteran.
Financial highlights
Q3 2025 revenues from continuing operations were $99.5 million, down 2.8% year-over-year due to off-hire periods for special surveys.
Cash and cash equivalents at quarter-end were $332.32 million; shareholders' equity rose to $1.46 billion.
Net leverage ratio at 49.3% as of September 30, 2025, with total debt at $2,440.8 million.
Interest expense and finance cost decreased 30.7% year-over-year, reflecting lower average indebtedness and interest rates.
$2.3 billion newbuild CapEx program underway, with $580 million in advances paid and net equity inflow of $216 million expected post-delivery.
Outlook and guidance
Average charter duration stands at 6.9 years, with LNG fleet charter backlog at $3.0 billion (93 years) or $4 billion (126 years) if all options are exercised.
100% charter coverage for 2025 and 79% for 2026, with no spot market exposure until Q3 2026.
Only three latest generation LNG carriers under construction remain available for charter, with ongoing discussions for their employment.
LNG vessel supply deficit expected between 2027 and 2028, driven by new FIDs and increased LNG demand.
Multi-gas carriers to be delivered from January 2026, with strong market interest and healthy TCE rates in the $90,000s to $1 million/month range.
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