Capital Clean Energy Carriers Corp. · NASDAQ:CCEC
Capital Clean Energy Carriers — Capital Product Partners — Q2 2021 Earnings Presentation
12 slides from Capital Clean Energy Carriers's earnings presentation, Jul 30, 2021
Slide 1: Second Quarter 2021 Earnings Presentation
Second Quarter 2021 Earnings Presentation July 30, 2021 Capital Product Partners L.P. www.capitalpplp.com
Slide 2: Important Notice
Important Notice The statements in this presentation that are not historical facts, including, among other things, the expected financial performance of CPLP’s business, CPLP’s ability to pursue growth opportunities, CPLP’s expectations or objectives regarding future distributions, and market and ch
Slide 3: Second Quarter 2021 Highlights & Update
Second Quarter 2021 Highlights & Update Net income for 2Q2021: $35.4 million. Declared common unit distribution of $0.10 for the quarter. Partnership’s operating surplus: $23.5 million or $15.2 million after the quarterly allocation to the capital reserve. Delivered the M/V 'CMA CGM Magdalena' to it
Slide 4: Statements Of Comprehensive Income
Statements Of Comprehensive Income ($ In Thousands) For the Three-Month Period Ended For the Three-Month Period Ended June 30, 2021 June 30, 2020 Revenues 39,823 36,570 Total Revenues 39,823 36,570 Expenses: Voyage expenses 2,198 1,317 Vessel operating expenses 10,352 7,794 Vessel operating expenses
Slide 5: Operating Surplus For Calculation Of Unit Distribution
Operating Surplus For Calculation Of Unit Distribution1 ($ In Thousands) For the Three-Month Period Ended For the Three-Month Period Ended 30-Jun-21 31-Mar-21 Partnership’s net income 35,403 10,879 Adjustments to net income Depreciation and amortization 11,742 11,954 Amortization / accretion of abov
Slide 6: Strong Balance Sheet
Strong Balance Sheet ($ In Thousands) As Of As Of June 30, 2021 December 31, 2020 Assets Current Assets $189,300 $57,779 Fixed Assets 602,186 712,197 Other Non-Current Assets 46,906 52,222 Total Assets $838,392 $822,198 Liabilities and Partners’ Capital Current Liabilities $100,488 $61,606 Long-Term
Slide 7: Sale of the M/V 'CMA CGM Magdalena'
Sale of the M/V 'CMA CGM Magdalena' Delivered the M/V 'CMA CGM Magdalena' to its new owners on May 17, 2021. Transaction generated gross proceeds from the sale of approximately $49.4 million after repaying outstanding debt. Recorded an accounting gain on the sale in the amount of $25.4 million. Expe
Slide 8: Strong Charter Coverage
Strong Charter Coverage Strong charter coverage on CPLP assets. 92% and 85% charter coverage for 2021 and o 15 containerships and 1 drybulk vessel with 3,9 years 2022, respectively. remaining on charter on average. Charter Profile Expiry of Current Charters Rates Vessel Type Jul-21 Jul-22 Jul-23 Jul
Slide 9: Container Charter Market Review
Container Charter Market Review Stronger container charter market and longer periods Containership Charter Rates across all sizes in 2Q2021. $000/day 2750 teu grd 1-Yr TC 4400 teu gls 1 Yr TC 6800 teu gls 3-Yr TC 9000 teu gls 3-Yr TC 70 The SCFI Comprehensive Index on 2nd April stood at a 60 record
Slide 10: Dropdown Opportunities
Dropdown Opportunities Maximum Charter Vessel Name Type TEU / CBM Delivery Yard Charterer Duration* Aristos I LNG Carrier 174,000 CBM Nov-20 HHI 12 Years Aristidis I LNG Carrier 174,000 CBM Jan-21 HHI 12 Years Aristarchos LNG Carrier 174,000 CBM Jun-21 HHI 6 Years Attalos LNG Carrier 174,000 CBM Aug
Slide 11: Strategy Going Forward
Strategy Going Forward Sale of 2 x 9,000TEU and cash flow generation from existing fleet is expected to result in significant liquidity for the Partnership going forward. We expect to take advantage of this increased liquidity by growing the Partnership’s fleet with the aim of: ‒ Concluding accretiv
Slide 12: Capital Product Partners L.P.
Capital Product Partners L.P.
Capital Product Partners — Q2 2021 Earnings Presentation on 6ix