CCEC enters the LNG bunkering segment with a joint venture with CMA CGM

Capital Clean Energy Carriers Corp. (CCEC) has announced the establishment of a joint venture with CMA CGM, under which a 20,000 cubic meter liquefied natural gas (LNG) bunkering vessel will be built, leased, and operated. This event marks CCEC's entry into a new segment.

The joint venture has signed a contract to construct the new vessel with Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. for $82.8 million, with an expected delivery date in the third quarter of 2028.

The vessel will be equipped with modern technologies to ensure safe and efficient LNG transfer operations in various conditions, as well as emission reduction systems and dual-fuel generation that comply with evolving environmental standards in global shipping.

“This joint venture marks CCEC's entry into LNG bunkering — a natural extension of our gas platform from transportation to marine fuel supply. By working with partners like CMA CGM and TotalEnergies, we can help build the infrastructure that will allow LNG to provide a cleaner emissions profile, as well as security and diversity of supply, opening a new long-term revenue stream for the company through the joint venture,” said Jerry Kalogiratos, CEO of Capital Clean Energy Carriers.

Upon delivery, the vessel is expected to enter a 12-year time charter with the CMA CGM S.A. and TotalEnergies S.A. joint venture, allowing the project to be part of a long-term fuel supply agreement as demand for LNG bunkering capacity continues to grow.

“Together with Capital Clean Energy Carriers and TotalEnergies, we aim to build a reliable and highly efficient LNG bunkering supply chain, which is crucial for ensuring the availability and reliability of fuels such as LNG, representing the first step towards decarbonizing our industry,” commented Christine Cabau, Executive Vice President of Operations and Assets at CMA CGM S.A.