The Joint Venture has secured a 10-year time charter (with two three-year extension options) of the vessel to BGN INT DMCC commencing simultaneously with the acquisition of the vessel and expected to generate aggregate revenues (including all options) of up to approximately $485.6 million and extending up to 2043 if all options are exercised.

Joint Venture Structure

The Joint Venture will be effected through BM Capital HoldCo LLC, a newly formed Marshall Islands limited liability company, in which CCEC holds a 51% interest and BMarine Shipping Investment FZCO holds the remaining 49%. BM Capital LLC, a wholly owned subsidiary of BM Capital HoldCo LLC, will acquire the vessel for $230 million.

The existing financing on the vessel is expected to be refinanced upon acquisition of the vessel in the first quarter of 2027.

Jerry Kalogiratos, CEO of CCEC, commented: “This innovative transaction enables CCEC to achieve several strategic objectives simultaneously. Firstly, it highlights our ability to attract co-investment with a major energy trading partner. Secondly, securing a new long-term charter underscores the enduring strength of the LNG shipping sector for reputable owners operating state-of-the-art LNG carriers. Thirdly, the new charter enhances the diversity and quality of our charter portfolio, provides further balance sheet flexibility and strengthens cash flow visibility for our investors.”

Ozan Turgut, BGN Shipping Director commented: “We are delighted to enter into this landmark agreement with CCEC. This is a major milestone for BGN as we continue to invest in and expand our maritime operations. Taking delivery of our first LNG shipping vessel significantly enhances our fleet capacity and our ability to meet growing demand across our global customer base.

“BGN has set an ambition to increase its fleet with two new LNG vessels by 2027 and ten new LPG vessels by 2028. I’m pleased to say that taking delivery of the LNG/C Amore Mio I in early 2027 puts us firmly on track to achieve this goal.”

As a result of this transaction, as at end March 2026, CCEC will have average remaining firm charter duration for its LNG/Cs of 6.9 years and $2.9 billion in contracted revenues, which if all extension options are exercised by the charterers, would increase to average duration of 9.9 years and total contracted revenues of $4.3 billion.

Source: Capital Clean Energy Carriers Corp.