Capital Clean Energy Carriers (CCEC), has completed the sale of one of its three Neo-panamax containerships, securing financing for its new dual-fuel Medium Gas Carriers (MGCs) construction program.
According to market sources, the shipping company has completed an agreement for the sale of the “Manzanillo Express” (13,312 teu/ 2022), to an undisclosed buyer. Delivery is expected in the third quarter of 2025. The deal will yield an estimated accounting profit of $6.9 million, with the proceeds earmarked for debt reduction and general corporate use.
Μore specifically, on August 7, the Company signed a memorandum of agreement for the sale of M/V Manzanillo Express (142,411 DWT / 13,312 TEU, hybrid scrubber-fitted, eco container vessel, built 2022, Hyundai Samho Industries Co. Ltd, South Korea). The vessel is expected to be delivered to its new owner during the third quarter of 2025.
The Company expects to record a gain of approximately $6.9 million from the sale. Cash proceeds will be used to pay down outstanding debt, estimated at $90.4 million at the end of the third quarter of 2025, and for general corporate purposes.
Upon completion of this transaction, CCEC will have only two remaining 13,000 TEU container vessels - both on long term time charters through 2033, with options to extend to 2039.
This vessel sale aligns with the Company’s strategic plan, announced in November 2023, to shift its strategic focus towards the transportation of various forms of gas to industrial customers, including liquefied natural gas (“LNG”) and emerging new commodities in connection with the energy transition. Since February 2024, CCEC has sold or agreed to sell 13 container vessels, including the M/V Manzanillo Express, generating expected gross proceeds of approximately $694.2 million. These funds are being reinvested in state-of-the-art gas transportation assets.
Secured Financing for Four DF 45,000 cbm MGCs and Two DF 40,000 cbm MGCs
On August 13, the Company entered into a seven-year financing arrangement for all six of its DF MGCs under construction. The relevant vessels include M/T Aristogenis, M/T Aridaios, M/T Aratos, M/T Agenor (45,000 CBM, DF LPG, Hyundai Mipo Dockyard Co. Ltd., South Korea), and M/T Andrianos and M/T Anios (40,000 CBM, DF LPG, Nantong CIMC Sinopacific Offshore & Engineering Co. Ltd, PRC). The total expected financing amount is $310.1 million which can increase, in case long-term employment is secured, up to a total of $376.6 million. The facility also includes the option to draw pre-delivery financing.
Capital Clean Energy Carriers Corp. in-the-water fleet includes 15 high specification vessels, including 12 latest generation LNG/Cs and three legacy Neo-Panamax container vessels, one of which is expected to be sold during the third quarter of 2025. In addition, CCEC’s under-construction fleet includes six additional latest generation LNG/Cs, six dual-fuel medium gas carriers and four handy LCO2/multi-gas carriers, to be delivered between the first quarter of 2026 and the third quarter of 2027.
ELNAVI Newsletter
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.