Capital Clean Energy Carriers Corp. (CCEC), an international owner of ocean-going gas vessels (the “Company,” “CCEC,” “we,” or “us”), announced on 12 June the formation of a joint venture company (the “Joint Venture”) with CMA CGM S.A. Each party will hold a 50% ownership stake in the Joint Venture, which has been established for the purpose of constructing, chartering, and operating one 20,000 cbm dual-fuel LNG bunkering vessel. The Joint Venture marks CCEC’s entry into the LNG bunkering segment, the Company’s first vessel dedicated to marine fuel supply.
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.
As previously reported, Capital Group and CMA CGM established a joint venture in late 2025 with plans to order LNG bunkering vessels, which were expected to be chartered long-term to the energy giant TotalEnergies for operation. Market reports at the time confirmed that Capital Group and CMA CGM had signed a Letter of Intent (LOI) with CIMC SOE for the construction of two vessels; this development marks the formalization of the order for the first vessel.
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.”
Capital Clean Energy Carriers Corp., an international shipping company, is a leading platform of gas carriage solutions with a focus on energy transition. CCEC’s in-the-water fleet includes 17 high specification vessels, including 13 latest generation LNG/Cs, one legacy Neo-Panamax container vessel, one dual-fuel medium gas carrier and two handy LCO2/multi-gas carriers. In addition, CCEC’s under-construction fleet includes eight additional latest generation LNG/Cs, five dual-fuel medium gas carriers, two handy LCO2/multi-gas carriers and one LNG DF Bunkering vessel to be delivered between the second quarter of 2026 and the first quarter of 2029.
According to its official website, CIMC SOE is an international engineering company specializing in high-end equipment, including liquefied gas carriers and liquid cargo systems, LNG/LEG/LPG cargo and fuel tanks, offshore engineering modules, and offshore wind power equipment. Established in 2006, the company joined CIMC Enric in August 2017, becoming part of the CIMC Group’s “Energy, Chemical, and Food Equipment” business segment.
CIMC SOE is a leader in the global market segment for small- and medium-sized liquefied gas carriers. Its product portfolio encompasses fully pressurized and semi-refrigerated/semi-pressurized carriers for various liquefied gases—such as LPG, LEG, and LNG—as well as LNG bunkering vessels and clean-energy-powered ships. By the end of 2024, the company had delivered over 40 vessels, including various liquefied gas carriers and LNG bunkering ships, securing a leading position in the global market.