CCEC | Market Cap: $1.3B (07/13/26)
Industry:
Transportation
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DESCRIPTION

Capital Clean Energy Carriers (CCEC) is a Marshall Islands-based shipping company that owns and charters out ocean-going gas carriers, primarily LNG carriers. CCEC's fleet currently consists of 12 LNG carriers on the water (each 174,000 CBM), with 9 more newbuilds scheduled for delivery through early 2029. CCEC also has a growing "Gas Fleet" of smaller vessels — 6 dual-fuel medium gas carriers capable of transporting LPG and ammonia, and 4 multi-gas carriers capable of carrying liquid CO2, LPG, and ammonia — all under construction. CCEC earns revenue by charging charterers a fixed daily hire rate for the use of its vessels under time charters (where CCEC pays operating costs) or bareboat charters (where the charterer bears all costs). Customers include BP, Cheniere, Qatar Energy Trading, TotalEnergies, and ConocoPhillips, among others. CCEC does not trade the commodities itself — it simply provides the vessel. The company locks most of its fleet into medium- to long-term fixed-rate charters (typically 7–12 years for LNG carriers) to provide revenue visibility; the contracted backlog stands at approximately $2.6B in firm charter revenues. Fleet management is outsourced to affiliates of sponsor Capital Maritime, which owns roughly 59% of CCEC. CCEC is also winding down a legacy container shipping business, with one vessel remaining on charter to Hapag-Lloyd. CCEC pays a fixed quarterly dividend of $0.15/share and has maintained uninterrupted dividends since its 2007 IPO.

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