Highlights

  • Capital Clean Energy Carriers now operates 21 vessels in the water, including 15 latest-generation LNG carriers.
  • Shareholders elected former New York Chief Judge Janet DiFiore to the board at the 22 September annual meeting.
  • Contracted revenues stood at approximately US$2.9 billion at the second-quarter report, rising to US$4.3 billion with options.
  • Second-quarter 2026 Revenue increased 8% to US$104.9 million as the average fleet grew 19% year on year.

Capital Clean Energy Carriers Corp. (NASDAQ:CCEC) has continued to take delivery of new gas carriers through 2026, lifting its in-the-water fleet to 21 vessels while a further 12 ships remain under construction. The Piraeus-based owner, which describes itself as the largest US-listed LNG shipping company, also refreshed its board at its annual meeting on 22 September 2026.

Newbuild Deliveries Reshape the Fleet

As of 23 September 2026, the fleet in the water comprised 15 latest-generation LNG carriers, three Handy liquefied CO2 multi-gas carriers, two dual-fuel medium gas carriers and one legacy Neo-Panamax container vessel. Under construction are six LNG carriers, four medium gas carriers, one Handy multi-gas carrier and one LNG dual-fuel bunkering vessel, scheduled for delivery between Q1 2027 and Q1 2029.

Deliveries in 2026 included the LNG carriers Archimidis and Agamemnon in June, which are on bridging charters with a major energy company through June 2027 before expected long-term charters of five and seven years. The medium gas carriers Aristogenis and Aridaios arrived in June and July, with the first on a 12-month time charter and the second expected to trade in the spot market.

Second-Quarter Earnings and Contract Cover

For Q2 2026, revenue from continuing operations rose 8% to US$104.9 million, while expenses increased 20% to US$51.8 million, reflecting a larger fleet, bunker costs before charter starts and special-survey costs. Net Income from continuing operations was US$29.0 million, or US$0.48 per share, compared with US$29.7 million, or US$0.51, a year earlier.

Contracted revenues totaled approximately US$2.9 billion, potentially rising to about US$4.3 billion if all charter Options are exercised, with an average firm duration of 6.5 years for the LNG carrier fleet. Chief Executive Jerry Kalogiratos said Middle East tensions during the quarter allowed the company to secure additional contract coverage at attractive rates.

Cash and cash equivalents were US$252.7 million at 30 June 2026, and total Debt was US$2.96 billion. About half of debt is fixed or protected against rising rates after the company placed collars on US$800 million of floating-rate borrowings.

Board Changes and Planned Transactions

At the annual meeting, shareholders re-elected seven directors and elected Janet DiFiore, who served as Chief Judge of the New York Court of Appeals from 2015 until 2022. Gurpal Grewal, a director since 2017, retired from the board.

Looking ahead, CCEC plans to sell a 2023-built 174,000 cubic meter LNG carrier to a joint venture in which it holds 51%, with the transfer expected in Q1 2027. A 50:50 joint venture with CMA CGM has ordered a 20,000 cubic meter LNG bunkering vessel, expected to deliver in Q3 2028. The company paid a Q2 2026 Dividend of US$0.15 per share on 13 August and has authorized Buybacks of up to US$20.0 million over two years.