Capital Clean Energy Carriers Corp. · NASDAQ:CCEC
Capital Clean Energy Carriers — Capital Product Partners — Q4 2022 Earnings Presentation
14 slides from Capital Clean Energy Carriers's earnings presentation, Feb 3, 2023
Slide 1: Fourth Quarter 2022 Earnings Presentation
Fourth Quarter 2022 Earnings Presentation February 3, 2023 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: Fourth Quarter 2022 Highlights
Fourth Quarter 2022 Highlights ▪ Took delivery of the M/V Manzanillo Express and the M/V Itajai Express, two 13,312 TEU container vessels on 10-year charters with Hapag Lloyd ▪ Firm charter period of the LNG/C Asterix I extended from 5 to 7 years ▪ Financial Performance & Operating Highlights: ▪ Net
Slide 4: Statements Of Comprehensive Income
Statements Of Comprehensive Income ($ In Thousands) For the Three-Month Period Ended For the Three-Month Period Ended December 31, 2022 December 31, 2021 Revenues 79,897 63,574 Expenses / (income), net: Voyage expenses 3,819 3,229 Vessel operating expenses 14,954 13,011 Vessel operating expenses – r
Slide 5: Operating Surplus For Calculation Of Unit Distribution
Operating Surplus For Calculation Of Unit Distribution* ($ In Thousands) For the Three-Month Period Ended For the Three-Month Period Ended 31-Dec-22 30-Sep-22 Partnership’s net income 21,126 58,728 Adjustments to net income Depreciation, amortization, unrealized Bonds cash and cash equivalents excha
Slide 6: Balance Sheet
Balance Sheet ($ In Thousands) As Of As Of December 31, 2022 December 31, 2021 Assets Current Assets 166,323 37,684 Fixed Assets 1,781,897 1,781,858 Other Non-Current Assets 48,544 65,628 Total Assets 1,996,764 1,885,170 Liabilities and Partners’ Capital Current Liabilities 118,580 130,801 Long-Term
Slide 7: Delivery of M/V Itajai Express
Delivery of M/V Itajai Express Vessel Type Capacity Delivered Yard Firm Period Optional Periods Charterer Itajai Express Container Carrier 13,312 TEU 10-Jan-23 HHI 10 Years 2 + 2 +2 Years ▪ The consideration to the seller was paid through a combination of: ▪ Cash deposit of $6.0 million advanced in
Slide 8: 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 13,312 TEU Container
Slide 9: Diversified Contracted Revenue
Diversified Contracted Revenue Contracted Revenue* Contracted Revenue Contribution* Contracted Revenue Backlog: $1.93 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% $324.9 $286.1 $200 24% $0 2023 remaining 2024 2025 2026+ Ov
Slide 10: Strong Charter Coverage & Duration
Strong Charter Coverage & Duration Charter Profile* Expiry of Current Charters Jan-23 Jan-24 Jan-25 Jan-26 Jan-27 Jan-28 Cape Agamemnon Akadimos Under construction Hyundai Prestige Containership Hyundai Premium LNG Carrier Hyundai Paramount Hyundai Privilege Hyundai Platinum Long Beach Express Seatt
Slide 11: LNGC Market Developments
LNGC Market Developments ▪ Positive outlook for LNGC market, despite recent drop in the spot 1 YR TC Rate USD Newbuild Price USD Thousands Million market from previous record highs. 300 LNG 160K CBM Steam 270 ▪ Term charter rates remain firm and are significantly higher than at 250 LNG 174K CBM 250
Slide 12: Container Market Developments
Container Market Developments Containership Charter Rates ▪ Container shipping markets softened during the second half of $000/day the year and into Q4-22 from previous exceptional levels, with 2750 teu grd 1-Yr TC 4400 teu gls 1 Yr TC rates returning towards more normalized levels 140 120 6800 teu
Slide 13: LNG Dropdown Opportunities
LNG Dropdown Opportunities Right of First Offer: Vessel Name Type TEU / CBM 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 TEU / CBM Delivery Yard Assos LNG Carrier 174,000 CBM May-24 HHI Apostolos L
Slide 14: Capital Product Partners L.P.
Capital Product Partners L.P. 1
Capital Product Partners — Q4 2022 Earnings Presentation on 6ix