BGN Signs JV With CCEC For First LNG Carrier, the AMORE MIO I<\/p>\n
BGN,\u00a0the 6th largest independent energy and commodities\u00a0trading\u00a0group, has successfully signed a long-term vessel charter agreement with\u00a0an affiliate of\u00a0Capital Clean Energy Carriers\u00a0(CCEC), a\u00a0recognized\u00a0leader\u00a0in the global shipping industry.<\/p>\n
Under the agreement, BGN has\u00a0partnered with\u00a0CCEC\u00a0in\u00a0a joint venture\u00a0company,\u00a0BM Capital\u00a0LLC,\u00a0for\u00a0the\u00a0long-term\u00a0charter\u00a0and operation\u00a0of\u00a0LNG\u00a0vessel,\u00a0the\u00a0Amore\u00a0Mio\u00a0I.\u00a0\u00a0This is\u00a0BGN\u2019s first\u00a0long-term\u00a0ownership of an LNG vessel,\u00a0in a\u00a0deal\u00a0comprising\u00a0a\u00a0charter period of 10 years,\u00a0with the option to extend by a further\u00a06-years.<\/p>\n
The Amore\u00a0Mio\u00a0I\u00a0is\u00a0a 2-stroke\u00a0174,000\u00a0cbm\u00a0LNG carrier\u00a0equipped with onboard\u00a0reliquefication, shaft generators and compliant with IMO Tier III emissions standards.<\/p>\n
BGN Shipping Director Ozan\u00a0Turgut\u00a0said:\u00a0\u201cWe are delighted to enter into this landmark agreement with\u00a0CCEC.\u00a0This is a major milestone\u00a0for BGN as we continue to\u00a0invest and\u00a0expand our maritime\u00a0operations. Taking delivery of our first LNG shipping vessel\u00a0significantly enhances our fleet capacity and\u00a0ability to\u00a0meet growing demand across our global customers.<\/p>\n
BGN set an ambition to\u00a0increase\u00a0its\u00a0fleet with two new LNG vessels by 2027, and ten new LPG vessels by 2028.\u00a0\u00a0I\u2019m\u00a0pleased to say that\u00a0taking delivery of the LNG vessel, the Amore\u00a0Mio\u00a0I\u00a0in early 2027, puts us\u00a0firmly on track\u00a0to\u00a0achieve\u00a0this goal.\u201d.<\/p>\n
Jerry Kalogiratos, CEO of Capital Clean Energy Carriers Corp., commented: \u201cWe are very pleased to have concluded this innovative transaction with the BGN group, which enables CCEC to achieve several strategic objectives simultaneously. Firstly, securing a new long-term charter underscores the enduring strength of the LNG shipping sector for reputable owners operating state-of-the-art LNG carriers. Secondly, it highlights our ability to attract co-investment with a major energy trading partner such as BGN. Thirdly, the new charter enhances the diversity and quality of our charter portfolio, provides further balance sheet flexibility, and strengthens cash flow visibility for our investors.\u201d.<\/p>\n
The\u00a0joint venture\u00a0demonstrates\u00a0BGN\u2019s commitment to expanding its operational capabilities through\u00a0strategic partnerships and\u00a0investment in its asset base and\u00a0logistics\u00a0infrastructure, as it realizes its ambitions to\u00a0grow its global footprint across the energy sector.<\/p>\n
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