Capital Clean Energy Carriers Corp. Announces Completion of Corporate Conversion, Change of Name, Corporate Logo and Nasdaq Ticker
26 Agosto 2024 - 8:00AM
Capital Clean Energy Carriers Corp. (“CCEC”, “we” or “us”) (NASDAQ:
CCEC), an international owner of ocean-going vessels, announces
today completion of our conversion from a Marshall Islands limited
partnership named “Capital Product Partners L.P.” to a Marshall
Islands corporation (the “Conversion”) and our adoption of a new
corporate identity with a change in name to “Capital Clean Energy
Carriers Corp.” and Nasdaq stock market ticker to “CCEC” (the “Name
Change”).
The Conversion and the Name Change are key
milestones in our strategic pivot towards the transportation of
various forms of natural gas to industrial customers, including
liquefied natural gas (“LNG”) and new commodities emerging as a
result of the energy transition, as initially announced in November
2023. To achieve our strategic pivot, we agreed in November 2023 to
acquire 11 newbuild LNG/C vessels (the “Newbuild LNG/C Vessels”),
of which five vessels are already on the water and the remaining
six vessels are expected to be delivered between the first quarter
of 2026 and the first quarter of 2027. In June 2024, we also
ordered 10 state-of-the-art, high-specification gas carriers,
including four unique handy multi gas carriers that can carry
liquid CO2. These, along with the Newbuild LNG/C Vessels,
collectively form the “Energy Transition Vessels”. This $3.9
billion investment, notable both in asset value and scope,
demonstrates our commitment to becoming a leading provider of
transportation for LNG and other clean fuels.
We have already made significant progress on our
refocus of the business with 12 latest generation LNG/C vessels
currently on the water plus the disposal of seven legacy container
vessels during the first half of 2024. Upon delivery of our
remaining Energy Transition Vessels between the first quarter of
2026 and the third quarter of 2027, we expect to become the largest
U.S.-listed LNG shipping company and will offer our industrial
customers a full range of transportation solutions.
Mr. Jerry Kalogiratos, our Chief Executive
Officer, said: “Today’s announcement whilst symbolic is an
important step in the growth and evolution of the company. It
builds upon our stated intention to become the only U.S. listed
shipping company offering transportation for all gas types with an
emphasis on the energy transition, as these vessels can move LPG,
Ammonia, Butane, Propylene and Liquid CO2, adding to LNG, where we
already have a presence. This conversion to a traditional corporate
structure will enhance our corporate governance and is intended to
position the company as a more attractive investment opportunity in
the equity capital markets. We have structured the converted
company in a manner that we believe will appeal to institutional
investors, which we believe will further broaden our investor base
and improve our trading liquidity.”
About Capital Clean Energy
Carriers
Capital Clean Energy Carriers Corp. (NASDAQ:
CCEC), an international shipping company, is one of the world’s
leading platforms of gas carriage solutions with a focus on the
energy transition. CCEC currently owns 20 high specification
vessels, including 12 latest generation LNG carriers (LNG/Cs) and
eight legacy Neo-Panamax container vessels. In addition, CCEC has
agreed to acquire six additional latest generation LNG/Cs, six dual
fuel medium gas carriers and four handy liquid CO2/multi gas
carriers, to be delivered between the first quarter of 2026 and the
third quarter of 2027.
Forward-Looking Statements
The statements in this press release that are
not historical facts, including, among other things, statements
related to the Conversion and its effects, the Name Change and the
Energy Transition Vessels, CCEC’s ability to pursue growth
opportunities and CCEC’s expectations or objectives regarding
future vessel deliveries and charter rate expectations, are
forward-looking statements (as such term is defined in Section 21E
of the Securities Exchange Act of 1934, as amended). These
forward-looking statements involve risks and uncertainties that
could cause the stated or forecasted results to be materially
different from those anticipated. For a discussion of factors that
could materially affect the outcome of forward-looking statements
and other risks and uncertainties, see “Risk Factors” in our annual
report filed with the SEC on Form 20-F for the year ended December
31, 2023, filed on April 23, 2024 and the risk factors set out in
Exhibit 99.8 to our Report on Form 6-K furnished on August 26, 2024
. Unless required by law, CCEC expressly disclaims any obligation
to update or revise any of these forward-looking statements,
whether because of future events, new information, a change in its
views or expectations, to conform them to actual results or
otherwise. CCEC does not assume any responsibility for the accuracy
and completeness of the forward-looking statements. You are
cautioned not to place undue reliance on forward-looking
statements.
Contact Details:
Capital GP L.L.C.Brian
Gallagher EVP Investor RelationsTel. +44-(770) 368 4996 E-mail:
b.gallagher@capitalmaritime.com
Investor Relations /
MediaNicolas BornozisCapital Link, Inc. (New York)Tel.
+1-212-661-7566E-mail: cplp@capitallink.com
Capital Product Partners (NASDAQ:CPLP)
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Capital Product Partners (NASDAQ:CPLP)
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