Capital Clean Energy Carriers Corp. · NASDAQ:CCEC
Capital Clean Energy Carriers — Investor Presentation (October 2024)
33 slides from Capital Clean Energy Carriers's investor presentation, October 2024
Slide 1: Capital Clean Energy Carriers Corp.
Capital Clean Energy Carriers Corp. October 2024 www.capitalcleanenergycarriers.com
Slide 2: Important Notice
Important Notice This presentation contains forward-looking statements (as such term is defined in Sec- tion 21E of the Securities Exchange Act of 1934, as amended). These statements can be identified by the fact that they do not relate only to historical or current facts. In partic- ular, forward-l
Slide 3: Who we are: Capital Clean Energy Carriers Corp.
01 Who we are: Capital Clean Energy Carriers Corp. www.capitalcleanenergycarriers.com
Slide 4: Capital Clean Energy Carriers – Key Highlights
Capital Clean Energy Carriers – Key Highlights Expected to become the Largest and youngest fleet1 of energy 1.1 Years 31 Vessels Avg. Fleet Age2 Fleet Size2 ✓ transition shipping vessels capable of transporting LNG, LPG, 18 LNG Carriers, 10 Multi Gas Carriers ammonia and liquid CO2 and 3 legacy Cont
Slide 5: Very Modern Fleet
Very Modern Fleet On the water New Deliveries 2020 2021 2021 2021 2021 2021 2026 2026 2026 2026 2027 2027 LNG carriers All dual fuel 174k cbm 2023 2023 2024 2024 2024 2024 5,023 TEU 2013 2013 2013 2013 2013 All debt free Sale announced September 2024 Containers 13,300 TEU 2022 2023 2023 3x long term
Slide 6: Diversified Contracted Revenue
Diversified Contracted Revenue Contracted Revenue* Contracted Revenue Contribution* Contracted Revenue Backlog: $2.8 billion High Quality & Diversified Customer Base 2% Million 4% $2,500 13% 14% $2,063.4 $2,000 14% 12% $1,500 10% $1,000 18% 6% 5% $455.6 $500 $235.4 $0 2024 remaining 2025 2026+ ~7.2
Slide 7: Significant Increase in Revenues and EBITDA on “Fully Delivered” Basis
Significant Increase in Revenues and EBITDA on “Fully Delivered” Basis Total Fleet: EBITDA1 (per year) Total Fleet: Adjusted Free Cash Flow1 (per year) ($ in millions) ($ in millions) $206.8 $735.4 Increase of Increase of 190% 342% $482.0 $160.0 $253.4 $46.8 $253.4 $46.8 Existing Fleet Pro Forma Fle
Slide 8: LNG Fleet & Market
02 LNG Fleet & Market www.capitalcleanenergycarriers.com
Slide 9: Charter Profile - CCEC LNG/C Fleet
Charter Profile* - CCEC LNG/C Fleet Contracted backlog of 74 years at an average daily rate of $88,537, or ~$2.4bn of revenue Backlog could increase to 109 years with all options exercised Jun-24 Jun-25 Jun-26 Jun-27 Jun-28 Jun-29 Firm With Options Attalos 2029 2034 Aristos I 2027 2032 Aristidis I 2
Slide 10: LNG Global Fleet – Fleet Structure Is Split Between Technologies
LNG Global Fleet – Fleet Structure Is Split Between 3 Technologies 2 stroke engines dominant since 2018 Older vessels face operational challenges 100 Vessel type Steam Diesel Electric 2 stroke Inj 90 2 Turbine (DFDE/TFDE) (MEGI/X-DF) DFDE Stroke 28% 80 40% Capacity 145,000 cbm 160,000 cbm 174,000 cb
Slide 11: LNG Global Fleet – Order book Ratio Is High – But So Is Future Growth
LNG Global Fleet – Order book Ratio Is High – But So Is Future Growth Orderbook/fleet ratio is high at >50%.... ….but so is LNG production growth >400MTPA by 2030 400 100 350 115MTPA 90 = 173 LNG/C 80 300 Required* *assumption 1.5x LNG/C for every MT of LNG given tonne mile impact 70 250 LNG Orderbo
Slide 12: LNG Sector – Asset Prices Underpinned By Multiple Factors
LNG Sector – Asset Prices Underpinned By Multiple Factors LNG 174k @$260m – underpinned by rates… ….and tight vessel supply market from 2027 50 290 140,000 Long Shipping 40 30 No of Vessels (174k) equivalent 270 120,000 20 10 250 100,000 0 Short Shipping -10 230 80,000 -20 US million Per day -30 210
Slide 13: Very Few Open LNG Delivery Slots In Orderbook
Very Few Open LNG Delivery Slots In Orderbook Only 28 out of 343 LNG/C deliveries are open – CCEC has 21% or 6 of these slots 40 Agamemnon Antaios I 35 Archimidis 3 Alcaios I 3 2 3 Athlos 30 1 2 4 Archon 4 5 2 25 2 3 3 2 2 1 1 1 2 4 4 20 1 1 2 15 1 2 10 21% of open book = CCEC 5 CCEC is well positio
Slide 14: LNG Global Fleet – Contract Duration Is Rising
LNG Global Fleet – Contract Duration Is Rising Contract duration has risen from 2026 delivery onward – post 2027 delivery > 15 years 16 25 14 Moving average contract duration 20 Moving avergae conract duration (yrs) 12 Actual contract duration (yrs) 10 15 8 Contracts 10 6 4 5 2 0 0 Vessel Delivery D
Slide 15: Financials
03 Financials www.capitalcleanenergycarriers.com
Slide 16: Newbuilding Commitments
Newbuilding Commitments Athlos Archimidis Alcaios I Aratos Agamemnon Aridaios Archon Deliveries Active Alkimos Anios Million Amadeus Antaios I Agenor Andrianos Aristogenis Athenian $600 511.0 $500 $400 307.2 $300 149.7 $200 149.7 51.2 $100 50.6 38.3 25.6 105.4 123.2 7.1 49.9 74.0 89.3 53.6 47.7 46.9
Slide 17: Newbuilding Commitments Funding
Newbuilding Commitments Funding Newbuilding Program supported by multiple sources of funding Million $2,500 101 $2,000 368 294 $1,500 2,344 $1,000 1,565 $500 16 $0 Newbuilding Program Cash Capex paid Container sales Debt Equity Notes: 1. Newbuilding Program reflects the total acquisition price of th
Slide 18: Debt Maturities Overview
Debt Maturities Overview 1 Bond 2021 CMTC - Seller's Credit LNG/C NBs CMTC - Seller's Credit LNG/C Aristos I LNG/C Aristidis I LNG/C Asklipios LNG/C Attalos LNG/C Aristarchos M/V Manzanillo Express Bond 2022 M/V Itajai Express LNG/C Asterix I LNG/C Adamastos M/V Buenaventura Express LNG/C Amore Mio
Slide 19: Gas Fleet & Market
04 Gas Fleet & Market www.capitalcleanenergycarriers.com
Slide 20: Dual Fuel LPG & Liquid CO2 Fleet
Dual Fuel LPG & Liquid CO2 Fleet Contracted High backlog specification, of fuel dual 76 years atLCO2 LPG & an average daily vessels, withrate of $88,500, increased or ca. capacity for$2.4bn of freight reduced revenuecost Backlog LCO2 could vessels increase capable to 111 years with of transporting a
Slide 21: Liquid CO2 – Key Demand Drivers & Sector Framework
Liquid C02 – Key Demand Drivers & Sector Framework KEY DECARBONISATION CARBON CREDIT PRODUCTION OF EXTENSION OF OIL IN HARD TO ABATE MARKET E-FUELS & GAS FIELDS DEMAND SECTORS DRIVERS Subsidies / Carbon Credit Taxes Schemes REGULATORY FRAMEWORK & Subsidies / INCENTIVES Emission Carbon Credit Reducti
Slide 22: Why LCO2 Carriers?
Why LCO2 Carriers? HIGH CARGO FLEXIBILITY HIGHLY FLEXIBLE VESSEL LCO2 Handysize carriers: High specification, versatile vessels capable of transporting multiple cargoes; 22,000 CBM. Low pressure tech -55 C at 8.0 bar. 3 x Bi-lobe type c SPECIFICATION tanks, AMP fitted as well as DF NH3 and LNG ready
Slide 23: Global Carbon Capture Capacity Outlook
Global Carbon Capture Capacity Outlook Shipping Is Key To Enable CCUS To Work 400 Projecting estimates out to 2040 suggest that there may be over 345 Mtpa of carbon being captured by 2040 but expect 350 volumes to slow beyond 2040 as countries transition to renewable energy or low-carbon fuels Estim
Slide 24: Very Large Market Opportunity For LCO2 Shipping
Very Large Market Opportunity For LC02 Shipping CO2 VALUE CHAIN RESEARCH & BUSINESS SHIPPING BROKER PROJECT INTELLIGENCE “GLOBAL LCO2 FLEET OF 41 “HUNDREDS OF SHIPS WILL “BY 2030 A FLEET OF 55 BY 2030; 124 BY 2040; 270 BE REQUIRED” LCO2 CARRIERS” BY 2050” INFRASTRUCTURE INTERGOVERNMENTAL AGENCY INTE
Slide 25: New Markets To Emerge In Mid Sized Gas Carrier Segment
New Markets To Emerge In Mid Sized Gas Carrier Segment INDUSTRIES FOR LOW CARBON AMMONIA: Unit freight cost: • Need for larger and more efficient vessels Power District Industrial generation heating application • MGCs with lowest unit freight cost will be key (NH3 & H2) (H2) (NH3) Forecast Expected
Slide 26: Fully Integrated Gas Transportation Strategy
Fully Integrated Gas Transportation Strategy Biomass / DAC* emissions E-Fuels (Methanol, Combustion / Co- SAF, Diesel etc.) Electrolysis / Synthesis firing / District Renewables Heating E-Methane E-Ammonia Natural Gas Steam Methane Reformation / Combustion / Co- Synthesis firing Blue Ammonia Combust
Slide 27: Conclusion & Summary
05 Conclusion & Summary www.capitalcleanenergycarriers.com
Slide 28: Very Modern Fleet
Very Modern Fleet On the water New Deliveries 2020 2021 2021 2021 2021 2021 2026 2026 2026 2026 2027 2027 LNG carriers All dual fuel 174k cbm 2023 2023 2024 2024 2024 2024 5,023 TEU 2013 2013 2013 2013 2013 All debt free Sale announced September 2024 Containers 13,300 TEU 2022 2023 2023 3x long term
Slide 29: Capital Clean Energy Carriers – Key Highlights
Capital Clean Energy Carriers – Key Highlights Expected to become the Largest and youngest fleet1 of energy 1.1 Years 31 Vessels Avg. Fleet Age2 Fleet Size2 ✓ transition shipping vessels capable of transporting LNG, LPG, 18 LNG Carriers, 10 Multi Gas Carriers ammonia and liquid CO2 and 3 legacy Cont
Slide 30: Appendix
Appendix www.capitalcleanenergycarriers.com
Slide 31: CCEC Container Fleet Charter Profile
CCEC Container Fleet Charter Profile* 12 Sold In 2024; 3 Long Term TC Remaining Contracted backlog of 26 years ca. $364.3 million of revenue Backlog could increase to 44 years with all options exercised Firm With Options Jun-24 Jun-25 Jun-26 Jun-27 Jun-28 Jun-29 Manzanillo Express 2032 2038 Itajai E
Slide 32: CPLP Strong Capital Market History
CPLP Strong Capital Market History Company has long history – pivoting away from CPLP paid 69 consecutive QUARTERLY dividends on crude & product tankers in 2019 common units totaling $15.44 per unit since IPO* 40 Breakdown of CPLP/CCEC fleet from IPO to Q2 2024 18 Cumulative Distribution per unit si
Slide 33: Assumptions
Assumptions ▪ Annual debt amortization: $155.1 million. Estimated amount of the average annual amortization for each vessel basis $2.91 billion debt ▪ Interest rate: Average margin of 1.97% over the 5 year SOFR rate of 4.02% ▪ Interest Expense: Interest rate multiplied by the average of Vessel Debt
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