Capital Clean Energy (CCEC) Earnings Transcript

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Thursday, May 8, 2025 astatine 10 a.m. ET

• Chief Financial Officer — Brian Gallagher

• Chief Executive Officer — Jerry Kalogiratos

• Chief Commercial Officer — Nikos Tripodakis

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Brian Gallagher: Thank you, Operator. Good greeting and day to whoever you are, and convey you for listening to the Capital Clean Energy Carriers Q1 2025 net call. As a reminder, we volition beryllium referring to the supporting slides disposable connected our website arsenic we spell done today’s presentation. Let’s commencement past connected Slide 4 with the highlights. First 4th 2025 was an important 4th for the institution successful galore respects. Firstly, nett income from operations for the 4th amounted to conscionable nether $81 million, including a $46.2 cardinal summation from the merchantability of 2 instrumentality vessels. This is included successful the net merchandise successful our discontinued operations.

These are the past 2 of the 5 5,000 TEU containers that we agreed to merchantability past year, and they were delivered to their caller owners during this quarter. Overall, we person raised a full of $472.2 cardinal successful nett proceeds from the merchantability of 12 instrumentality vessels since December 2023, and person recycled this superior into our absorption connected state proscription assets. Another cardinal improvement for the 4th is that we person secured employment for 2 of our newbuilding LNG carriers for 5 years and 7 years, respectively, some with an further five-year option. My colleague, Nikos, volition screen that successful much item later.

What is more, during the archetypal 4th of the year, the LNG carrier, Axios II, commenced its seven-year bareboat charter, wherever the charter has the enactment to widen by an further 3 years. The caller charters, successful summation to definite options exercised by 1 of our charters, has accrued our steadfast charter backlog to $3.1 billion. We judge that these charters further corroborate our presumption connected the affirmative fundamentals of the longer-term LNG shipping marketplace and supply our investors visibility into some employment prospects and currency flows, good successful beforehand of our archetypal LNG newbuilding delivery.

With that, I’ll present crook it implicit to Chief Executive, Jerry Kalogiratos and Nikos Tripodakis, our Chief Commercial Officer, for the remainder of the presentation.

Jerry Kalogiratos: Thank you, Brian, and bully greeting to everyone listening successful today. It has been, indeed, a precise engaged 4th crossed each fronts, and is besides reflected successful our financials, which you volition find connected Slide 6. As Brian pointed out, we derived a further $46 cardinal successful one-off gains this 4th from completing the merchantability of the past 2 retired of the 5 instrumentality vessels we agreed to merchantability past year. We volition proceed to beryllium opportunistic astir the merchantability of the 3 remaining instrumentality vessels, arsenic these are modern eco-vessels with semipermanent currency travel attached.