Capital Clean Energy Carriers Corp. · NASDAQ:CCEC
Capital Clean Energy Carriers — Capital Product Partners — Q4 2021 Earnings Presentation
15 slides from Capital Clean Energy Carriers's earnings presentation, Feb 2, 2022
Slide 1: Fourth Quarter 2021 Earnings Presentation
Fourth Quarter 2021 Earnings Presentation February 2, 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: Fourth Quarter 2021 Highlights & Update
Fourth Quarter 2021 Highlights & Update Financial Performance & Other Highlights: ▪ Increased common unit distribution by 50% to $0.15 per quarter. ▪ Net income for 4Q2021: $40.0 million or $18.6 million excluding the gain from the sale of the M/V ‘Adonis’. ▪ Partnership’s operating surplus: $37.9 m
Slide 4: Statements Of Comprehensive Income
Statements Of Comprehensive Income ($ In Thousands) For the Three-Month Period Ended For the Three-Month Period Ended December 31, 2021 December 31, 2020 Revenues 63,574 35,085 Expenses / (income), net: Voyage expenses 3,229 1,863 Vessel operating expenses 13,011 9,030 Vessel operating expenses – re
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 31-Dec-21 30-Sept-21 Partnership’s net income 40,021 11,875 Adjustments to net income Depreciation and amortization 16,485 11,819 Amortization / accretion of abo
Slide 6: Strong Balance Sheet
Strong Balance Sheet ($ In Thousands) As Of As Of December 31, 2021 December 31, 2020 Assets Current Assets 37,684 57,779 Fixed Assets 1,781,858 712,197 Other Non-Current Assets 65,628 52,222 Total Assets 1,885,170 822,198 Liabilities and Partners’ Capital Current Liabilities 130,801 61,606 Long-Ter
Slide 7: Completion of Six LNGCs Acquisition Program
Completion of Six LNGCs Acquisition Program Vessel Name CBM Built Type Acquisition Date Aristos I 174,000 2020 X-DF Sept-21 Aristarchos 174,000 2021 X-DF Sept-21 Attalos 174,000 2021 X-DF Nov-21 Adamastos 174,000 2021 X-DF Nov-21 Asklipios 174,000 2021 X-DF Nov-21 Aristidis I 174,000 2021 X-DF Dec-2
Slide 8: Debt Repayment Profile
Debt Repayment Profile Debt Repayment Schedule ($Mil) $350 Sellers' Credit €150.0 Mil Bond CMB (Asklipios) JOLCO (Adamastos) CMB (Attalos) BoComm (Aristarchos) $300 $290.4 ING (Aristidis I) BoComm (Aristos I) CMB (Fos Express, Seatle Express, Long Beach Express) ICBC (Akadimos) HCOB Facility (Atheni
Slide 9: Strong Charter Coverage & Duration
Strong Charter Coverage & Duration Charter Profile* Expiry of Current Charters Vessel Type Jan-22 Jan-23 Jan-24 Jan-25 Jan-26 Jan-27 Dry Bulk Cape Agamemnon Containership Akadimos Containership Agamemnon Containership Archimidis Containership Hyundai Prestige Containership Hyundai Premium Containers
Slide 10: Secured Fleet Employment & Contracted Revenue
Secured Fleet Employment & Contracted Revenue Contracted Revenue ($Mil) Contracted Revenue Contribution 350 Total Contracted Revenue Backlog: $1.21 billion 300 MSC ENGIE 3% 11% HMM 250 17% CHENIERE 12% 200 150 289.4 284.9 HAPAQ 260.5 15% 100 206.4 164.6 BP ONE 50 41% 1% 0 2022 2023 2024 2025 2026+ H
Slide 11: LNGC Market Developments
LNGC Market Developments 1 YR TC Rate 260 Newbuild Price 250 Steam 160 • 4Q2021 experienced the usual common winter pattern of a very tight LNG 160K CBM 240 USD Thousands DFDE/TFDE freight market with spot rates surging up to $350,000 per day for a 140 230 LNG 174K CBM 2-Stroke TFDE vessel. 220 Mill
Slide 12: Container Charter Market Review
Container Charter Market Review Containership Charter Rates ▪ The container market experienced extraordinary positive $000/day 2750 teu grd 1-Yr TC 4400 teu gls 1 Yr TC momentum in 4Q2021 and into early 2022 with freight and 6800 teu gls 3-Yr TC 9000 teu gls 3-Yr TC charter rates surging to record h
Slide 13: Returning Capital to Unitholders
Returning Capital to Unitholders ▪ The Partnership has set a new increased distribution guidance: Annual Distribution $0.60 Distribution Increase $0.20 (50%) Effective Date 4Q/2021 ▪ Paid non-stop distributions to common and preferred unitholders for 58 consecutive quarters (since IPO in 2007), corr
Slide 14: Dropdown Opportunities
Dropdown Opportunities Right of First Offer: Maximum Charter Vessel Name Type TEU / CBM Delivery Yard Charterer Duration* Asterix I LNG Carrier 174,000 CBM Jan-23 HHI 9 Years TBA Amore Mio LNG Carrier 174,000 CBM Oct-23 HHI - - Axios II LNG Carrier 174,000 CBM Dec-23 HHI - - Aelios Container Carrier
Slide 15: Capital Product Partners L.P.
Capital Product Partners L.P.
Capital Product Partners — Q4 2021 Earnings Presentation on 6ix