Capital Clean Energy Carriers Corp. · NASDAQ:CCEC

Capital Clean Energy Carriers — Capital Product Partners — Q2 2012 Earnings Presentation

15 slides from Capital Clean Energy Carriers's earnings presentation, Jul 31, 2012

  1. Slide 1: Second Quarter 2012 Earnings Presentation

    Second Quarter 2012 Earnings Presentation July 31, 2012 Capital Product Partners L.P. www.capitalpplp.com

  2. Slide 2: Disclosures

    Disclosures This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current assumptions and expectations with respect to expected future events and performance. All statements, other than statemen

  3. Slide 3: Second Quarter 2012 Results Highlights

    Second Quarter 2012 Results Highlights 1  Cash Distribution For 2Q2012: $0.2325 Per Common Unit And $0.2674 Per Class B Unit.  Partnership’s Operating Surplus Of $16.9 Mil Or $12.7 Mil Adjusted For Class B Units Distribution (15,555,554 Class B Convertible Preferred Units).  $1.1 Mil In Profit Sh

  4. Slide 4: Income Statement

    Income Statement 2 ($ In Thousands) For the Three- Month For the Three- Month Period Ended Period Ended June 30, 2012 June 30, 2011 Revenues $20,124 $22,484 Revenues – related party 17,724 5,368 Total Revenues 37,848 27,852 Expenses: Voyage expenses 437 1,041 Voyage expenses – related party 143 - Ve

  5. Slide 5: Operating Surplus For Calculation Of Unit Distribution

    Operating Surplus For Calculation Of Unit Distribution 3 ($ In Thousands) For the Three-Month For the Three-Month Period Ended Period Ended June 30, 2012 March 31, 2012 $3,370 $3,225 Net Income Adjustments to net income Depreciation and amortization 12,328 12,740 Deferred revenue 1,531 2,460 Gain on

  6. Slide 6: Balance Sheet

    Balance Sheet 4 ($ In Thousands) As Of As Of June 30, 2012 December 31, 2011 Assets Total Current Assets $45,170 $62,291 Total Fixed Assets 1,031,445 1,073,986 Other Non-Current Assets 59,232 60,012 Total Assets $1,135,847 $1,196,289 Liabilities and Partners’ Capital Total Current Liabilities $30,25

  7. Slide 7: Modern High Specification Fleet With Strong Counterparties

    Modern High Specification Fleet With Strong Counterparties 5 Vessel Name DWT Charterer Year/Place Built Type of Vessel ALEXANDER THE 297,958 2010, Japan GREAT VLCC ACHILLEAS 297,863 2010, Japan CAPE AGAMEMNON 179,221 2010, S. Korea Capesize Dry Cargo AMORE MIO II 159,982 2001, S. Korea MILTIADIS M I

  8. Slide 8: High Charter Coverage For The Medium Term

    High Charter Coverage For The Medium Term 6 Mar-12 Dec-12 Sep-13 May-14 Feb-15 Oct-15 Jul-16 Mar-17 Alexander The Great Achilleas Cape Agamemnon Miltiadis M II Amore Mio II Amoureux Aias Agamemnon II Alexandros II Aris II Aristotelis II Ayrton II Akeraios Anemos I Apostolos Assos Atrotos Avax Axios

  9. Slide 9: Product Tanker Market Overview

    Product Tanker Market Overview 57  Product Tanker Spot Market Softened In 2Q2012 Due To Weak 5-Year Demand In US & Europe And T/C Rates Average Lack Of Arbitrage Opportunities. 1-Year T/C $17,031 MR Rate 3-Year T/C $17,130 MR Rate  Increased Activity For Product Tankers In The East But Transatlant

  10. Slide 10: Crude Tanker Market Overview

    Crude Tanker Market Overview 8  Crude Tanker Spot Market Remained Robust Until June 2012 Due To:  Increased Stock Building In US And China.  Tighter Sanctions On Iran. 5-Year 3-Year T/C  Softer Bunker Prices. Average  From June Onwards, Seasonally Softer VLCC $40,802 Demand, High Crude Oil Inve

  11. Slide 11: Attractive Entry Point

    Attractive Entry Point 9  Highly Attractive Entry Yield:  Cash Distribution: $0.2325 Per Unit For 2Q2012 – Annualized Yield Of ca. 11.5%  Recent $140.0 Million Class B Units Issuance Provides Long Term Visibility To The $0.93 Distribution And Allows Increasing Cash Flow To Build Coverage And Incr

  12. Slide 12: APPENDIX

    APPENDIX

  13. Slide 13: Summary of Class B Convertible Preferred Offering Terms

    Summary of Class B Convertible Preferred Offering Terms 10 Issuer Capital Product Partners L.P. Securities Class B Convertible Preferred Units Size $140.0 million of gross proceeds Sponsor Purchase Capital Maritime contributes $30.9 million A group of investors including Kayne Anderson Capital Advis

  14. Slide 14: Amortization Reduction Enhances Common Unit Distribution Coverage

    Amortization Reduction Enhances Common Unit Distribution Coverage 11 Pro Forma Amortization Schedule (2012 – 2015) $70 $62 $62 $60 $55 ($ in millions) $50 $40 $30 $20 $17 $10 $0 $0 $0 $0 $0 2012 2013 2014 2015 Status Quo Pro Forma Revolving $370.0 Million Revolving $350.0 Million Term Loan Facility

  15. Slide 15: Capital Product Partners L.P.

    Capital Product Partners L.P.

Capital Product Partners — Q2 2012 Earnings Presentation on 6ix