Capital Clean Energy Carriers Corp. · NASDAQ:CCEC
Capital Clean Energy Carriers — Q2 2024 Earnings Presentation
25 slides from Capital Clean Energy Carriers's earnings presentation, Aug 2, 2024
Slide 1: Q2'24 Earnings and Corporate Conversion Presentation
Q2’24 Earnings and Corporate Conversion Presentation August 2, 2024 capitalpplp.com
Slide 2: Important Notice
Important Notice This presentation contains forward-looking statements (as such term is defined in Sec- tion 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 partic- ular, forward-l
Slide 3: Transition to Capital Clean Energy Carriers
01 Section Transition to Capital Clean Energy Carriers
Slide 4: New Era for Capital Product Partners
New Era for Capital Product Partners ▪ Capital Product Partners L.P. to become a corporation and adopt enhanced standards of corporate governance and transparency for investors Name Change and Corporate ▪ Conversion to corporation expected to be completed by August 26, 2024 Conversion ▪ To be rename
Slide 5: Capital Clean Energy Carriers Highlights
Capital Clean Energy Carriers Highlights Expected to become the largest and youngest fleet1 of energy ✓ transition shipping vessels capable of transporting LNG, LPG, 2.3 Years 36 Vessels Avg. Fleet Age2 Fleet Size2 ammonia and liquid CO2 Significant cash flow stability via charter coverage (average
Slide 6: Diversified Contracted Revenue
Diversified Contracted Revenue Contracted Revenue* Contracted Revenue Contribution* Contracted Revenue Backlog: $2.8 billion High Quality & Diversified Customer Base Million 2% 4% $2,500 13% 14% $2,063.4 $2,000 14% 12% $1,500 10% $1,000 18% 6% 5% $455.6 $500 $235.4 $0 2024 remaining 2025 2026+ ~7.2
Slide 7: Q2 2024 Review
PRODUCT PARTNERS 1.P. Section Q2 2024 Review
Slide 8: Second Quarter 2024 Highlights & Update
Second Quarter 2024 Highlights & Update ▪ Announced a $756.0 million investment in 10 gas carriers ("Gas Fleet"), to be delivered between Q1 2026 and Q3 2027 ▪ Took delivery of the LNG/C Assos, the LNG/C Apostolos and the LNG/C Aktoras, each 174,000 cbm capacity ▪ Concluded the sale of five containe
Slide 9: Statements of Comprehensive Income
Statements of Comprehensive Income ($ In Thousands) For the Three-Month Period Ended For the Three-Month Period Ended June 30, 2024 June 30, 2023 Revenues 97,671 88,535 Expenses / (income), net: Voyage expenses 2,161 3,940 Vessel operating expenses 17,390 20,774 Vessel operating expenses – related p
Slide 10: Balance Sheet
Balance Sheet ($ In Thousands) As Of As Of June 30, 2024 December 31, 2023 Assets Current Assets 109,977 225,504 Fixed Assets 3,738,549 2,806,685 Other Non-Current Assets 140,000 108,110 Total Assets 3,988,526 3,140,299 Liabilities and Partners’ Capital Current Liabilities 208,710 183,930 Long-Term
Slide 11: LNG/C Acquisition Update
LNG/C Acquisition Update 1 3 Charter Acquisition Vessel Delivery Charterer Years Type Structure ▪ In December 2023, successfully closed 1 Amore Mio I Oct-23 Qatar Energy 2.8 TC Delivery at Closing an agreement to acquire 11 latest 2 Axios II Jan-24 BGT2 7.0 + 3.0 BB generation two- 3 Assos May-24 To
Slide 12: Debt Optimization
Debt Optimization ▪ LNG/C Aristos I & LNG/C Aristarchos: ▪ Extended the maturity and reduced the financing cost and amortization of the relevant sale & leasebacks of the vessels LNG/C Aristidis I: ▪ Refinanced outstanding debt of $99.4 million by drawing $155.0 million under a new senior secured loa
Slide 13: Containerships – Recycle Capital to Growth
Containerships – Recycle Capital to Growth Sold Containers: Vessel Capacity Built Yard Delivered to ✓ Since our decision to opportunistically divest ✓ Buyers non-core container vessels, we have sold seven Athos ✓ ..April 2024 of the 15 containers Samsung Heavy Athenian 10,000 TEU 2011 Industries Co.
Slide 14: Debt Maturities Overview
Debt Maturities Overview 1 Bond 2021 CMTC - Seller's Credit LNG/C NBs CMTC - Seller's Credit LNG/C Aristos I LNG/C Aristidis I LNG/C Asklipios LNG/C Attalos LNG/C Aristarchos M/V Manzanillo Express Bond 2022 M/V Itajai Express LNG/C Asterix I LNG/C Adamastos M/V Buenaventura Express LNG/C Amore Mio
Slide 15: Gas Fleet Acquisition Summary
Gas Fleet Acquisition Summary Acquisition/Contract Vessel Type Yard Size (cbm) Expected Delivery Price (in US$ million)1 Hull 8398 – TBN Active LCO2/Multi Gas Carrier* Hyundai Mipo Dockyard Co. Ltd, South 22,000 $78.2 Jan-26 Korea (“Hyundai Mipo”) Hull 8399 – TBN Amadeus LCO2/Multi Gas Carrier* Hyun
Slide 16: Market Review: LNG Carriers
Market Review: LNG Carriers ▪ Charter rates: ▪ Spot rates were relatively steady from mid-January to end of May, with a 1 YR TC Rate recent increase as shipping availability for loadings in July out of the US Spot Rates 300 Gulf continued to dwindle 450 USD Thousands $ per day (Thousands) T/DFDE T/
Slide 17: Summary
Summary Company name change illustrates the transition to a highly ✓ valuable and investible gas platform Conversion to C-Corp with improved governance facilitates ✓ greater institutional investor involvement and associated capital market benefits Expected to become largest and youngest fleet1 of en
Slide 18: Appendix
0S Appendix —
Slide 19: Corporate Conversion Overview
Corporate Conversion Overview Elimination of Master Limited Partnership Structure: ▪ The General Partner will forego existing management and consent rights, including the right to appoint three directors and its veto rights on the approval of significant corporate transactions and amendments to the
Slide 20: Transaction Update: LNG/Cs Acquisition
Transaction Update: LNG/Cs Acquisition Transformation into the Leading Publicly-Traded Owner of LNG/Cs, LPG & LCO2 Carriers Explore Transformation of Corporate Structure Explore Divestiture of Containership Vessels ` Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 Q4’26 Q1’27
Slide 21: Transaction Update: LPG & LCO2s Acquisition
Transaction Update: LPG & LCO2s Acquisition Transformation into the Leading Publicly-Traded Owner of LNG/Cs, LPG & LCO2 Carriers ` Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 Q4’26 Q1’27 Q2’27 Q3’27 Row Title Active ✓ Amadeus ✓ Aristogenis ✓ Aridaios ✓ Alkimos ✓ Athenian
Slide 22: Newbuilding Commitments
Newbuilding Commitments* Athlos Archimidis Alcaios I Aratos Deliveries Agamemnon Aridaios Archon Active Alkimos Anios Million Amadeus Antaios I Agenor Andrianos $600 Aristogenis Athenian 511.0 $500 $400 307.2 $300 149.7 $200 149.7 51.2 $100 49.9 105.4 123.2 7.1 25.6 50.6 74.0 89.3 53.6 38.3 22.5 47.
Slide 23: Charter Profile - LNG Fleet
Charter Profile* - LNG Fleet Contracted backlog of 74 years at an average daily rate of $88,537, or ~$2.4bn of revenue Backlog could increase to 109 years with all options exercised Jun-24 Jun-25 Jun-26 Jun-27 Jun-28 Jun-29 Firm With Options Attalos 2029 2034 Aristos I 2027 2032 Aristidis I 2028 203
Slide 24: Charter Profile - Container Fleet
Charter Profile* - Container Fleet Contracted backlog of 30 years at an average daily rate of $38,362, or ca. $413.8 million of revenue Backlog could increase to 49 years with all options exercised Jun-24 Jun-25 Jun-26 Jun-27 Jun-28 Jun-29 Firm With Options Hyundai Prestige 2025 - Hyundai Premium 20
Slide 25: capitalpplp.com
capitalpplp.com
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