Energy News Beat
The Evangelos Marinakis-backed and US-listed shipping firm revealed the charter deals in its first-quarter report on Thursday.
CCEC, previously known as Capital Product Partners, said that South Korea’s Hyundai Samho is expected to deliver the vessel Atllos and Archon in the first quarter of 2027
According to CCEC, Athlos has been chartered for a firm period of five years, with an additional five-year option at the charterer’s discretion.
Also, Archon has been chartered for a firm period of seven years, also with a five-year optional extension to a “major energy company.”
Commencement of the charters will occur upon each vessel’s delivery from the shipyard.
CCEC noted that, under both charter agreements, the company maintains the right to substitute other latest generation LNGCs from its fleet to perform in place of either Athlos Archon, thereby enhancing the company’s commercial flexibility and fleet deployment strategy.
The firm did not provide the name of the charterer.
VesselsValue data suggests that the charterer is French energy giant TotalEnergies.
Furthermore, CCEC also said that, in January this year, the LNG carrier Axios II started its previously announced seven-year bareboat charter, with the charterer having the option to extend the bareboat charter by an additional three years.
Nigeria LNG’s BGT chartered this vessel.
As a result, CCEC now has an average remaining firm charter duration of 7.3 years and $3.1 billion in contracted revenues.
CCEC said that if charterers exercised all extension options, the average duration would increase to 10.2 years, with total contracted revenues rising to $4.5 billion.
CEO Jerry Kalogiratos said these two new charters are expected to “further improve the diversity and composition of our charter book, further de-risk our balance sheet, and provide our investors with increasing cash flow visibility.”
“CCEC now has only four latest generation LNG carriers under construction from its eventual fleet of 18 that are available for charter,” he said.
He said the company remains engaged with “multiple counterparties” regarding their future employment.
“Critically, CCEC remains largely insulated from current spot LNG market conditions, with our first two open newbuildings being delivered not before the third quarter of 2026,” he said.
The post CCEC secures LNG carrier charter deals appeared first on Energy News Beat.
