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Athens, Greece - March 5, 2026
Capital Clean Energy Carriers Corp. (the "Company", "CCEC", "we" or "us") (NASDAQ: CCEC), an international owner of ocean-going vessels, today released its financial results for the fourth quarter ended December 31, 2025.
Key Quarterly Highlights
• Ordered three latest-technology LNG carriers with deliveries in 2028 and 2029
• Concluded the sale of a 13,696 TEU container vessel, the M/V Buenaventura Express
• Took delivery of our first LCO2/multi-gas carrier, the Active
• Announced dividend of $0.15 per share for the fourth quarter of 2025
Key Financial Highlights (continuing operations)
(1) Average number of vessels is measured by aggregating the number of days each vessel was part of our fleet during the period and dividing such aggregate number by the number of calendar days in the period.
Management Commentary
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We also advanced our transition away from container shipping, agreeing to the sale of an additional Neo-Panamax container vessel in the fourth quarter, with the proceeds from the sale received in the first quarter of 2026 used to further strengthen our balance sheet. In early January, we took delivery of the Active, our first LCO2/multi-gas carrier, marking an important milestone as we enter emerging energy-transition markets, in parallel with our presence in commercially competitive conventional gas trades. Supported by our contracted cash flows, disciplined capital allocation, and substantial liquidity, we remain focused on funding our orderbook and creating long-term value for our shareholders."
In November 2023, the Company announced its decision to shift its strategic focus towards the transportation of various forms of gas to industrial customers, including LNG and emerging new commodities in connection with the energy transition. As part of this strategy, we agreed to acquire 11 newbuild LNG Carriers ("LNG/Cs") and in June 2024, we further expanded the Company's gas-focused portfolio with the acquisition of 10 gas carriers, including four liquid CO2 ("LCO2") / multi-gas and six dual-fuel multi-gas carriers (the "Gas Fleet"). In December 2025, we ordered an additional three latest-technology LNG/Cs.
Since December 2023, the Company has also completed the sale of 14 container vessels. In view of this strategic shift, we present our financial results on a continuing operations basis, except for where reference is made to discontinued operations. Financial results from continuing operations include revenues, expenses and cash flows arising from 13 vessels in-the-water during Q4 2025, including 12 latest generation LNG/Cs and a 13,312 twenty-foot equivalent unit ("TEU") Neo-Panamax container vessel.
Financial results from discontinued operations include revenues, expenses and cash flows arising from the 14 container vessels we have sold, following the announcement of our strategic shift in November 2023. Please refer to Appendix A Discontinued Operations.
Fleet Update
The first of our LCO2/multi-gas carriers, the Active (28,629 DWT, 22,000 CBM, low-pressure LCO2 carrier, Hyundai Mipo Dockyard Co., Ltd., South Korea) was delivered to the Company on January 5, 2026, and commenced a six-month time charter transporting LPG, with an option for a further six-month extension with an energy trading company. The acquisition of the Active was financed with $29.4 million cash on hand and a 12-year ECA-backed loan of $48.9 million. The loan is repayable in 48 quarterly instalments of $0.6 million, with a balloon payment of $18.0 million payable with the final instalment in December 2037. The Company may borrow an additional amount of up to $7.5 million if the vessel secures long-term employment.
Container Divestment Update
On October 29, 2025, the Company signed a memorandum of agreement ("MOA") for the sale of the M/V Buenaventura Express (142,411 DWT / 13,696 TEU, eco container vessel, built 2023, Hyundai Samho Industries Co. Ltd, South Korea). The vessel was delivered to its new owners on January 19, 2026, and we recognized a total gain from the sale of $4.2 million. Cash proceeds were used to pay down outstanding debt of $84.4 million, with the remaining balance allocated to general corporate purposes. The divestment of this additional container vessel is consistent with the Company's stated strategy to shift our strategic focus towards the transportation of various forms of gas to industrial customers, including LNG and emerging new commodities in connection with the energy transition. Since December 2023, CCEC has sold 14 container vessels generating gross proceeds of approximately $814.3 million. After this latest sale, the Company retains only a 13,312 TEU container vessel in its fleet, currently employed on a long-term time-charter through 2033, with options to extend through 2039.
Contracting of three latest-technology LNG/Cs
On December 29, 2025, CCEC announced that it had secured three LNG/C berths at HD Hyundai Samho Co., Ltd., with one vessel scheduled for delivery in the third quarter of 2028 and two further deliveries in the first quarter of 2029. The en bloc ship building price of these vessels is $769.5 million. The vessels have been designed to incorporate a number of upgrades in their specifications and are expected to rank amongst the most efficient LNG/Cs in the global fleet in terms of fuel consumption and boil-off rates.
With its latest order for three additional LNG/Cs, the Company reaffirms its strategic position as the largest US-listed LNG shipping company, with 12 LNG/Cs currently in the water and nine LNG/Cs on order ("Newbuild LNG/Cs").
Under-Construction Fleet Update
The Company's under-construction fleet includes nine latest generation LNG/Cs (comprising the remaining Newbuild LNG/Cs that have not yet been delivered to the Company) and the Gas Fleet. The following table sets out the Company's schedule of expected capex payments for its under-construction fleet as of December 31, 2025.
Full report
About Capital Clean Energy Carriers Corp.
Capital Clean Energy Carriers Corp. (NASDAQ: CCEC), an international shipping company, is a leading platform of gas carriage solutions with a focus on energy transition. CCEC's in-the-water fleet includes 14 high specification vessels, including 12 latest generation LNG/Cs, one legacy Neo-Panamax container vessel, and one handy LCO2/multi-gas carrier. In addition, CCEC's under-construction fleet includes nine additional latest generation LNG/Cs, six dual-fuel medium gas carriers and three handy LCO2/multi-gas carriers, to be delivered between the second quarter of 2026 and the first quarter of 2029. For more information about the Company, please visit: www.capitalcleanenergycarriers.com
Capital Clean Energy Carriers Corp. press release
