Marinakis’ CCEC partners with BGN on LNG vessel venture

Nasdaq-listed Capital Clean Energy Carriers Corp. (CCEC), controlled by Greek owner Evangelos Marinakis, has agreed to sell the 2023-built 174,000 cbm LNG/C Amore Mio I to a subsidiary of a joint venture company owned 51% by CCEC and 49% by a company affiliated with global energy trader BGN Group in the first quarter of 2027.

The joint venture has secured a 10-year time charter (with two three-year extension options) of the vessel to BGN INT DMCC commencing simultaneously with the acquisition of the vessel and expected to generate aggregate revenues (including all options) of up to approximately $485.6m and extending up to 2043 if all options are exercised.

According to CCEC, the joint venture will be effected through BM Capital HoldCo LLC, a newly formed Marshall Islands limited liability company, in which CCEC holds a 51% interest and BMarine Shipping Investment FZCO holds the remaining 49%. BM Capital LLC, a wholly owned subsidiary of BM Capital HoldCo LLC, will acquire the vessel for $230m.

The existing financing on the vessel is expected to be refinanced upon acquisition of the vessel in the first quarter of 2027.

Jerry Kalogiratos, chief executive officer of