Capital Clean Energy Carriers Corp. (CCEC), a global owner of gas carriers, has announced the establishment of a joint venture with CMA CGM S.A., with each partner holding a 50% stake. The new venture has been created to build, charter, and operate a 20,000-cbm dual-fuel LNG bunkering vessel. The project represents CCEC’s entry into the LNG bunkering market and marks the company’s first vessel dedicated to supplying marine fuel.
In connection with this transaction, the Joint Venture has entered into a shipbuilding contract with Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (“CIMC SOE”) for the construction of the vessel at a contract price of $82.8 million, with delivery expected in the third quarter of 2028.
Incorporating the latest technologies, the vessel is designed to enable safe and reliable LNG transfers across a wide range of operating conditions. Advanced emissions reduction systems, combined with highly efficient dual-fuel power generation, are designed to help the vessel meet applicable environmental standards of the global shipping industry.
In addition, the Joint Venture is expected to enter into a 12-year time charter with a joint venture company formed between CMA CGM S.A. and TotalEnergies S.A., commencing upon delivery of the vessel from the shipyard.
Jerry Kalogiratos, CEO of Capital Clean Energy Carriers, commented: “This joint venture marks CCEC’s entry into LNG bunkering — a natural extension of our gas platform from carriage into marine fuel supply. Working alongside counterparties of the calibre of CMA CGM and TotalEnergies, we can help build the infrastructure that allows LNG to deliver a cleaner emissions profile, alongside security and diversity of supply, while opening a new, long-term contracted revenue stream for the Company through the Joint Venture.”
Christine Cabau, Executive Vice President Operations and Assets of CMA CGM S.A., said: “Together with Capital Clean Energy Carriers and TotalEnergies, we are committed to building a reliable and high-performance LNG bunkering supply chain, which is essential to ensuring the availability and reliability of fuels such as LNG that represent the first step in the decarbonization of our industry.”
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