Capital Clean Energy Carriers Corp. · NASDAQ:CCEC
Capital Clean Energy Carriers — Capital Product Partners — NAPTP 2015 Conference
17 slides from Capital Clean Energy Carriers's conference presentation, May 21, 2015
Slide 1: NAPTP 2015 Conference Investor Presentation
NAPTP 2015 Conference Investor Presentation May 21, 2015 www.capitalpplp.com
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 CPLP’s management’s current assumptions and expectations with respect to expected future events and performance. The statements in this prese
Slide 3: Investment Highlights
Investment Highlights Diversified Maritime MLP with high specification, modern fleet of 31 vessels including 19 product tankers, 4 suezmax tankers, 7 containers and 1 capesize dry bulk vessel, all with period employment. Target distribution growth of 2-3% per year for the foreseeable future. 1. Long
Slide 4: Modern, High Specification Fleet
Modern, High Specification Fleet Current Fleet List & Charterers Fleet Profile By Vessel Type Vessel Name Dwt / Teu Charterer Year Built Type Of Vessel ATLANTAS 36,760 2006, S. Korea Ice Class 1A IMO II/III Chemical/ Product AKTORAS 36,759 2006, S. Korea Ice Class 1A IMO II/III Chemical/ Product 4 A
Slide 5: Strong Charter Coverage At Attractive Rates
Strong Charter Coverage At Attractive Rates Charter Profile Expiry Of Current Charters Rates Commentary Vessel Type May-15 May-16 May-17 May-18 May-19 May-20 Gross Rate Profit Share Solid Product & Product tanker Atrotos $14,750 Suezmax Tanker Period Product tanker Anemos I $14,850 Market: Conta
Slide 6: Favorable Product Tanker Market Fundamentals Drive Improving Period Market
Favorable Product Tanker Market Fundamentals Drive Improving Period Market Refinery Capacity Growth Favorable structural changes in the refinery industry drive increasing tonne mile demand for product tankers: 2.2 mb/d refinery capacity removals in OECD countries in 2012-2014. 3.6 mb/d of new
Slide 7: Solid Recovery For Suezmax Tankers
Solid Recovery For Suezmax Tankers Suezmax Voyage Fixtures WAF-East Favorable demand and supply dynamics 120 driving Suezmax tanker market recovery: Fast growing crude oil demand from 100 Asia, particularly China and India, Number of Fixtures result in increased crude movements 80 from the Atlan
Slide 8: Fully Funded Contracted Dropdowns
Fully Funded Contracted Dropdowns Committed Vessels Vessel Scheduled Acquisition Gross Rate Type Capacity Yard Charterer Duration Name Delivery Price (per day) Eco-Flex, Wide Akadimos 9,160 TEU Jun-15 Daewoo $81.5m CMA-CGM $39,250 5 Years Beam Eco-Flex, Wide Adonis 9,160 TEU Aug-15 Daewoo $81.5m CMA
Slide 9: Healthy Growth Opportunities
Healthy Growth Opportunities Optional Vessels (CPLP Holds Right Of First Refusal) Vessel Name Type Capacity Scheduled Delivery Yard Amor 50,000 Dwt Sep-2015 Samsung Athlos 50,000 Dwt Jan-2016 Samsung Alkaios Eco IMO II/III 50,000 Dwt Apr-2016 Samsung Chemical/Product Anikitos Tanker 50,000 Dwt Jul-2
Slide 10: New Distribution Growth Objective
New Distribution Growth Objective Distribution Growth New Distribution Growth Objective Objective Supported By: 1. Incremental cash flow from recently announced dropdowns. 2. Further dropdown potential: ROFR on 6 Eco MRs with deliveries in 2015/2016. Our objective is to continue to increase our
Slide 11: Appendix
PRODUCT PARTNERS L.P. APPENDIX
Slide 12: Strong Balance Sheet
Strong Balance Sheet ($ in Thousands) As Of As Of March 31, 2015 December 31, 2014 ASSETS Total Current Assets 154,134 172,115 Total Fixed Assets 1,202,718 1,186,711 Other Non-Current Assets 131,583 134,269 Total Assets $1,488,435 $1,493,095 LIABILITIES AND PARTNERS’ CAPITAL Total Current Liabilitie
Slide 13: Operating Surplus For Calculation Of Unit Distribution
Operating Surplus For Calculation Of Unit Distribution ($ In Thousands) For the Three-Month For the Three-Month Period Ended Period Ended March 31, 2015 December 31, 2014 Net income $12,151 $13,685 Adjustments to net income Depreciation and amortization 14,586 14,655 Deferred revenue 3,126 3,738 OPE
Slide 14: Statements of Comprehensive Income / (Loss)
Statements of Comprehensive Income / (Loss) ($ In Thousands) For the Three- Month Period For the Three- Month Period Ended Ended March 31, 2015 March 31, 2014 Revenues $30,130 $30,768 Revenues – related party 18,755 16,679 Total Revenues 48,885 47,447 Expenses: Voyage expenses 1,044 1,016 Voyage exp
Slide 15: Period Employment Update
Period Employment Update Gross Rate Per Day Earliest Charter Name DWT Built (increase vs previous Charterer employment) Expiry $29,000 M/T Amoureux 149,993 2008 March 2017 (+$5,000) $33,000 M/T Militiadis M II 162,397 2006 February 2016 (+$5,000) $15,400 M/T Avax 47,834 2007 April 2018 (+$650) $27,0
Slide 16: Successful Equity Issue Allowing For Stronger Balance Sheet And Deferral Of Debt Amortization
Successful Equity Issue Allowing For Stronger Balance Sheet And Deferral Of Debt Amortization Raised net proceeds of $133.3 million from the issuance and sale of 14,555,000 common units at a public offering price of $9.53 per unit in April. Continuing sponsor support with 1,100,000 units acquire
Slide 17: Capital Product Partners L.P.
Capital Product Partners L.P.