Capital Clean Energy Carriers (CCEC) has partnered with France's CMA CGM to establish a joint venture company aimed at constructing, chartering, and operating a 20,000-cubic-metre dual-fuel liquefied natural gas bunkering vessel.
Under the terms of the agreement, each party will hold a 50 per cent ownership stake in the newly formed entity, representing the first marine fuel supply vessel for CCEC.
To facilitate the project, the joint venture signed a shipbuilding contract with Chinese yard Nantong CIMC Sinopacific Offshore and Engineering for the construction of the vessel at a contract price of $82.8 million.
Delivery of the vessel is expected to take place in the third quarter of 2028.
Upon delivery from the shipyard, the joint venture will enter into a 12-year time charter with another joint venture formed between CMA CGM and TotalEnergies.
CCEC Chief Executive Officer Jerry Kalogiratos noted that the transaction marks a natural expansion of the firm's gas platform. He stated that the joint venture represents, "a natural extension of our gas platform from carriage into marine fuel supply".