Capital Clean Energy Carriers Corporation (CCEC) has agreed to sell the 2023-built LNG carrier Amore Mio I to a subsidiary of a joint venture company owned 51 per cent by CCEC and 49 per cent by a company affiliated with global energy trader the 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.
CCEC expects to generate aggregate revenues (including all options) of up to approximately US$485.6 million and extending the charter up to 2043 if all options are exercised.
The joint venture will be effected through BM Capital HoldCo, a newly formed Marshall Islands limited liability company, in which CCEC holds a 51 per cent interest and BMarine Shipping Investment holds the remaining 49 per cent.
BM Capital, a wholly owned subsidiary of BM Capital HoldCo, will acquire the vessel for US$230 million.
The existing financing on the vessel is expected to be refinanced upon acquisition of the vessel in the first quarter of 2027.
