Capital Clean Energy Carriers Corp. · NASDAQ:CCEC
Capital Clean Energy Carriers — Capital Product Partners — Q2 2022 Earnings Presentation
17 slides from Capital Clean Energy Carriers's earnings presentation, Jul 29, 2022
Slide 1: Second Quarter 2022 Earnings Presentation
Second Quarter 2022 Earnings Presentation July 29, 2022 Capital Product Partners L.P. www.capitalpplp.com
Slide 2: Important Notice
Important Notice This presentation contains forward-looking statements (as such term is defined in Section 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 particular, forward-looki
Slide 3: Second Quarter 2022 Highlights
Second Quarter 2022 Highlights ▪ Agreed to acquire One 174,000 CBM LNG Carrier & Three 13,278 TEU Container Vessels with long-term charters attached with delivery from October 2022 to May 2023 ▪ Concluded the sale of Two 8,266 TEU Container Vessels for $130.0 million ▪ Issued a €100.0 million senior
Slide 4: Statements Of Comprehensive Income
Statements Of Comprehensive Income ($ In Thousands) For the Three-Month Period Ended For the Three-Month Period Ended June 30, 2022 June 30, 2021 Revenues 73,960 39,823 Expenses / (income), net: Voyage expenses 4,467 2,198 Vessel operating expenses 14,112 10,352 Vessel operating expenses – related p
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-22 31-Mar-22 Partnership’s net income 20,418 25,149 Adjustments to net income Depreciation, amortization, unrealized Bonds exchange 20,050 16,310 differen
Slide 6: Balance Sheet
Balance Sheet ($ In Thousands) As Of As Of June 30, 2022 December 31, 2021 Assets Current Assets 122,295 37,684 Fixed Assets 1,697,224 1,781,858 Other Non-Current Assets 54,990 65,628 Total Assets 1,874,509 1,885,170 Liabilities and Partners’ Capital Current Liabilities 154,931 130,801 Long-Term Lia
Slide 7: Sale of 2 x 8,266 TEU Containers
Sale of 2 x 8,266 TEU Containers Divestment of our two oldest container vessels Vessel Type TEU Built Yard Remaining Charter Charterer Archimidis Container Carrier 8,266 2006 DSME 1.8 Years MSC Agamemnon Container Carrier 8,266 2007 DSME 1.8 Years MSC ▪ Sold to an unaffiliated party taking advantage
Slide 8: Four Newbuilding Vessel Acquisitions With Long-Term Charters Attached
Four Newbuilding Vessel Acquisitions With Long-Term Charters Attached Contractual Vessel Type Capacity Yard Firm Period Optional Periods Charterer Delivery Asterix I LNG Carrier 174,000 CBM Jan-23 HHI 5 Years 2 + 2 Years Manzanillo Express Container Carrier 13,278 TEU Oct-22 HHI 10 Years 2 + 2 +2 Ye
Slide 9: Diversified Contracted Revenue
Diversified Contracted Revenue 1 2 Contracted Revenue per Year Contracted Revenue Contribution 2 Contracted Revenue Backlog: $1.6 billion to $2.6 billion High Quality & Diversified Customer Base $Million 1,200 Minimum Contracted Revenue (Total: $1.6bn) Maximum Contracted Revenue (Total: $2.6bn) 1,00
Slide 10: Strong Charter Coverage & Duration
Strong Charter Coverage & Duration Charter Profile 1 Expiry of Current Charters Jun-22 Jun-23 Jun-24 Jun-25 Jun-26 Jun-27 Jun-28 Cape Agamemnon Under construction Akadimos Hyundai Prestige Containership Hyundai Premium LNG Carrier Hyundai Paramount Hyundai Privilege Hyundai Platinum Long Beach Expre
Slide 11: Successful Issue of Second Bond with 7 Year Maturity
Successful Issue of Second Bond with 7 Year Maturity Bond Highlights Issuer CPLP Shipping Holdings PLC Guarantor Capital Product Partners L.P. Issue amount €100.0 million Issue Price At Par, €1,000 per note Issue Expenses €3.4 million Maturity 7 years Coupon type Semi annual Coupon 4.40% Type of Not
Slide 12: Bond Issue – Key Terms
Bond Issue – Key Terms Undertakings Debt Service Reserve Account (DSRA) Inter alia: The Issuer should maintain a pledged DSRA. The DSRA components are: ▪ Corporate transformations permitted under certain conditions (incl. meeting the ▪ A fix amount of €100,000 Financial Covenants of the Guarantor).
Slide 13: Debt Maturities Overview
Debt Maturities Overview 1 Sellers' Credit HCOB (multiple vessels) CMB (Aristomenis & Athos) HCOB (Athenian) Bond 2021 CMB (Fos Express, Seatle Express, Long Beach Express) BoComm (Aristos I) ING (Aristidis I) ICBC (Akadimos) CMB (Asklipios) $ Million CMB (Attalos) BoComm (Aristarchos) 300 Adamastos
Slide 14: LNGC Market Developments
LNGC Market Developments 1 YR TC Rate Newbuilding Prices 160 260 ▪ The LNG spot market started the quarter soft, but charter rates have 140 250 Steam LNG 160K CBM risen recently due to energy security concerns, high gas prices and 120 240 D/TFDE USD Thousands charterers’ increased appetite for tonna
Slide 15: Container Charter Market Review
Container Charter Market Review Containership Charter Rates ▪ Market sentiment and activity during most of 1H2022 was positive, but few fixtures were concluded. This is due to a more conservative $000/day 2750 teu grd 1-Yr TC 4400 teu gls 1 Yr TC approach by charterers when securing long-term tonnag
Slide 16: Dropdown Opportunities
Dropdown Opportunities Right of First Offer: Vessel Name Type TEU / CBM Delivery Yard Charterer Amore Mio LNG Carrier 174,000 CBM Oct-23 HHI - Axios II LNG Carrier 174,000 CBM Dec-23 HHI - Additional Opportunities: Vessel Name Type TEU / CBM Delivery Yard Charterer Hull-3341 LNG Carrier 174,000 CBM
Slide 17: Capital Product Partners L.P.
Capital Product Partners L.P.
Capital Product Partners — Q2 2022 Earnings Presentation on 6ix