Marinakis’ CCEC bags long-term charter for LNG/C newbuilding

Nasdaq-listed Capital Clean Energy Carriers Corp. (CCEC) has secured a new long-term time charter agreement for one liquefied natural gas (LNG) carrier (LNG/C) under construction.

The firm, controlled by Greek owner Evangelos Marinakis, has secured employment for the 174,000-cbm LNG/C Athlos currently under construction at Hyundai Samho, which is scheduled for delivery from the shipyard in the first quarter of 2027.

In particular, the LNG/C Athlos has been chartered for a firm period of seven years by a “major energy company,” as the company claims, with three one-year options.

The commencement of the charter is scheduled for the first quarter of 2028.

It’s worth noting that the company maintains the right to substitute the LNG/C Athlos with the LNG/C Archon (174,000-cbm currently under construction at Hyundai Samho and also scheduled for delivery from the shipyard in the first quarter of 2027), further increasing the company’s commercial flexibility.

As a result, CCEC now has an average remaining firm charter duration of 6.9 years and $3bn in contracted revenues. Should all extension options be exercised by charterers, the average duration would increase to 9.8 years, with total contracted revenues rising to $4.4bn.

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