Capital Clean Energy Carriers Corp. reported strong financial results for the third quarter of 2026, with net income rising to $34.6 million, up from $22.7 million in the same period last year. Total revenues also saw a significant increase, reaching $138.1 million compared to $95.6 million a year earlier. CEO Jerry Kalogiratos attributed the growth to continued uncertainty in the Middle East, which affected LNG transits through the Strait of Hormuz, and the tightening of the Atlantic Basin LNG market due to low European storage levels ahead of winter.
The company highlighted its strategy of employing latest-generation vessels on long-term charters with high-quality counterparties, which has helped insulate it from short-term volatility. Year to date, CCEC has taken delivery of eight vessels, including three LNG carriers, two multi-gas carriers, and three handysize multi-gas carriers, with another eight scheduled for delivery in 2027. The fleet now consists of 15 latest-generation LNG carriers, three handysize multi-gas carriers, two multi-gas carriers, and one legacy Neo-Panamax container vessel.
CCEC described itself as the largest US-listed LNG carrier shipping company by fleet size, with a growing presence in the LPG market and contracted fleet growth through 2029. The company reported average firm contract durations of 6.4 years for the LNG carrier fleet and 0.7 years for the LPG and multi-gas fleet. Contracted revenues stand at approximately $2.8 billion, rising to $4.2 billion if all charter options are exercised, providing strong cash flow visibility.
The company also detailed several vessel deliveries and charter arrangements, including the delivery of the LNG carrier Alcaios I on July 31, 2026, and the securing of a one-year index-linked time charter for the LNG carrier Athlos, scheduled for delivery in the first quarter of 2027. Additionally, CCEC reported total expenses for the quarter at $69.3 million, up from $47.4 million a year earlier, with voyage expenses and vessel operating expenses seeing notable increases.