Capital Clean Energy Carriers Corp. · NASDAQ:CCEC
Capital Clean Energy Carriers — Capital Product Partners — Investor Presentation (March 2023)
16 slides from Capital Clean Energy Carriers's investor presentation, March 2023
Slide 1: Investor Presentation
Investor Presentation March 2023 www.capitalpplp.com
Slide 2: Investment Highlights
Investment Highlights 1. Diversified, modern assets with contracted revenue: ▪ Fleet includes 7 latest generation LNG carriers, 15 container vessels and 1 capesize vessel of 6.71 years average age ▪ Contracted revenue backlog of $1.9 billion1 ▪ Long-term employment in place with market leading credi
Slide 3: Strategic Evolution
Strategic Evolution Constant fleet growth since our IPO fleet of 8 vessels Million Fleet Development (Book Value & Average Number of Vessels) Investment Vessels $2,500 in LNG/Cs 40 Tanker spin-off & merger with NYSE: DSSI 35 $2,000 30 $1,500 25 20 $1,000 15 10 $500 5 $0 0 2015 2016 2017 2018 2019 20
Slide 4: Modern & High-Specification Diversified Fleet
Modern & High-Specification Diversified Fleet Fleet Age CPLP FLEET 1 Years 16.0 14.0 13.2 Years 2 7 LNG Carriers 12.0 10.0 8.0 6.7 Years 1 15 Containers 6.0 4.0 2.0 1 Bulk Carrier 0.0 CPLP Industry ▪ Diversified fleet across sectors and vessel types 23 Vessels – 2.2 mm DWT – 1.2 mm CBM – 119.5k TEU
Slide 5: Diversified Contracted Revenue
Diversified Contracted Revenue Contracted Revenue* Contracted Revenue Contribution* Contracted Revenue Backlog: $1.9 billion High Quality & Diversified Customer Base Million $1,200 0.1% $983.3 $1,000 8% 7% $800 11% $600 29% $400 $337.3 21% $289.9 $286.1 $200 24% $0 2023 remaining 2024 2025 2026+ Ove
Slide 6: Strong Charter Coverage & Duration
Strong Charter Coverage & Duration Charter Profile* Expiry of Current Charters Mar-23 Mar-24 Mar-25 Mar-26 Mar-27 Mar-28 Cape Agamemnon Akadimos Under construction Hyundai Prestige Containership Hyundai Premium LNG/C Hyundai Paramount Hyundai Privilege Hyundai Platinum Long Beach Express Seattle Exp
Slide 7: Container Market Review
Container Market Review ▪ The container shipping markets have softened during 2H 2022 and into early Containership Charter Rates 2023. Rates have decreased amid demand headwinds, easing in congestion and $000/day weaker sentiment putting pressure on both freight and charter rates 2,750 teu grd 1-Yr
Slide 8: LNG/C Market Review
LNG/C Market Review ▪ The LNG/C sector fundamentals remain strong 1 YR TC Rate Newbuild Price $000/day $ Million ▪ Generally warm weather and healthy gas inventories in both Europe 300 270 and Asia have softened demand for spot cargoes and caused gas LNG 160K CBM Steam prices to slide 250 250 D/TFDE
Slide 9: Strong Financial Performance
Strong Financial Performance Million Revenues $350 $299.1 Have raised $794.9 million of equity since listing on $300 the NASDAQ in 2007 $250 $200 $184.7 $140.9 Have consistently paid distributions for 63 consecutive $150 $108.4 quarters, corresponding to a total of $974.4 million $100 $50 $0 $2.0 bi
Slide 10: Debt Access & Leverage
Debt Access & Leverage EBITDA to Net Interest expense (Not less than 2.0x) NLTV (Not higher than 75%) 80.0% 12.0x 70.0% 10.4x 10.0x 60.0% 49.1% 7.4x 7.4x 50.0% 43.2% 42.3% 8.0x 38.2% 40.3% 40.7% 6.6x 5.9x 6.0x 40.0% 6.0x 31.2% 4.8x 30.0% 4.0x 20.0% 2.0x 10.0% 0.0x 0.0% 2016 2017 2018 2019 2020 2021
Slide 11: In Summary
In Summary 1 Million Net Asset Value-Charter Adjusted $3,000 $2,427.3 $2,500 $154.8 $2,000 ($436.0) $1,500 $1,000 $815.7 ($1,299.2) ($31.2) $500 $0 Charter Free Fleet Value Charter Value Total Cash Long Term Debt Net Working Capital NAV ✓ Valuation well underpinned by intrinsic value Estimated NAV o
Slide 12: LNG Dropdown Opportunities
LNG Dropdown Opportunities Right of First Offer: Vessel Name Type Capacity Delivery Yard Amore Mio I LNG Carrier 174,000 CBM Oct-23 HHI Axios II LNG Carrier 174,000 CBM Dec-23 HHI Additional Opportunities: Vessel Name Type Capacity Delivery Yard Assos LNG Carrier 174,000 CBM May-24 HHI Apostolos LNG
Slide 13: Appendix
Appendix Sa 12
Slide 14: Acquisitions Update
Acquisitions Update Vessel Type Capacity Delivery Yard Firm Period Optional Periods Charterer Manzanillo Express Container Carrier 13,312 TEU ✓ 12-Oct-22 HHI 10 Years 2 + 2 +2 Years Itajai Express Container Carrier 13,312 TEU ✓ 10-Jan-23 HHI 10 Years 2 + 2 +2 Years Buenaventura Container Carrier 13,
Slide 15: Key Events
Key Events 2022 Snapshot ▪ Announced the acquisition of one LNG/C and three 13,312 TEU container vessels, upon their delivery from the yard ▪ Sold two 8,266 TEU container vessels built in 2006 and 2007 ▪ Priced €100 million of senior unsecured bonds on the Athens Exchange ▪ Prepaid a total of $133.7
Slide 16: Capital Product Partners L.P.
Capital Product Partners L.P.
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