Capital Clean Energy Carriers Corp.

Good day, everyone, and welcome to the Capsule Clean Energy Carriers Corp. Third Quarter 2026 Financial Results. Please note that this event is being recorded. At this time, all participants are in listen-only mode. We will open the line for questions following the prepared remarks. If you would like to ask a question, please press pound key five on your telephone keypad. I will now turn over the call to today's host, Brian Gallagher, EVP, Investor Relations. Brian, please go ahead.

Thank you. Good evening and good afternoon to those of you in the US, and welcome to the Capital Clean Energy Carriers Q3 2026 earnings call. My name is Brian Gallagher, Head of Investor Relations. With me today, I have Geri Kalogiratos, our Chief Executive, Nikolaos Kalapotharakos, our CFO, Nikolaos Tripodakis, our Chief Commercial Officer and Head of LNG Commercial, and Jack Neenan, our Head of LPG Commercial. Before we start, please note that today's presentation contains forward-looking statements and actual results may differ materially. Please refer to the notice on slide 2 and the risk factors in our 2025 Annual Report on Form 20F. So let's kick off looking at the key highlights from the Q3 that we've just finished. In the third quarter, we took delivery of three vessels, the LNG carrier Alkios 1, the dual fuel MGC carrier Aerodeos in July, and the LCO2 multi-gas carrier Alkimos in September. During the quarter, we also secured new employment for two energy carriers and four gas carriers. The TCE for the quarter was just under $84,000 a day for our LNG fleet and just under $41,000 a day for our gas fleet. Net income from continuing operations was 34.6 million, up 52% compared to the same period last year, and we declared a dividend of 15 cents per share, our 78th consecutive cash quarterly dividend. Contracted revenue standard around $2.8 billion for the group, or $4.2 billion for the group, including options. That gives you a sense of the highlights, and now I'll pass on to Nikolaos with regard to the financials.

Thank you, Brian. Before turning to the financials, I would like to touch on our dividend payout, which remains a core part of the company's value proposition to our shareholders. As already announced, on October 22nd, we declared a quarterly cash dividend of 50 cents per share. This is our 78th consecutive quarterly dividend since our IPO in 2007. The dividend will be paid on November 12th to shareholders of record as of November 3rd. Turning now to the income statement. Revenue for the three months ended September 30th, 2026 increased to 138.1 million from 95.6 million during the same period last year. The 44% increase primarily reflects the growth in the average number of vessels in our fleet to 19.7 vessels from 13 vessels during the same period last year, following the delivery of three handy gas carriers, two dual fuel medium gas carriers, and three LNG carriers during 2026. Budget expenses for the third quarter of 2026. increased to 9 million from 2.2 million in the third quarter of 2025. The increase was mainly due to voyage expenses incurred by certain of our vessels during their delivery from the yard and the start of their employment, as well as balance legs associated with certain of our vessels passing their five-year special survey. Vessel operating expenses and depreciation and amortization increased by 6.2 million and 8.6 million respectively, compared to the same period in the previous year, mainly due to the increase in the average number of vessels in our fleet. Interest expense and finance cost increased to 33.7 million from 25.5 million during the same period last year. The increase mainly reflects higher average indebtedness following the financing of the vessels delivered this year, partly offset by a decrease in the weighted average interest rate on our debt. Therefore, net income from continuing operations was 34.6 million for the quarter, or 57 cents per share, corresponding to an increase of 52% compared to the same period last year, as this year's deliveries start to contribute. So moving on to our balance sheet, we maintain a solid cash position with total cash of 287 million, including restricted cash, and the net leverage ratio adjusted for the fair market value of our vessels at approximately 55%. Total assets grew to 4.9 billion, that is an increase of more than 20% from the beginning of 2026, as we took delivery of eight vessels this year. Shareholders' equity rose by 87 million, or by 6%, to approximately 1.6 billion. As of quarter end, total debt stood at 3.2 billion. Floating rate debt, which makes up approximately 78% of our total debt, carried an average margin of 1.70%. Our fixed rate debt, together with the 800 million of zero-cost interest rate collabs entered into during the second and third quarters of this year, make approximately 47% of our total debt either fixed or hedged. So let me now turn to our CAPEX program. Our new building program is well funded. We have already paid a substantial portion of the CAPEX from internally generated gas, asset monetizations, and attractive debt financing, including our bond issuance in February. Assuming 70% debt financing for the vessels that do not yet have facilities in place and excluding future operating cash flows and net proceeds from the sale of Amore Mio to the previously announced LNG joint venture, we expect to fully fund the remaining CapEx while also releasing significant liquidity to the company. So let me now hand over to Nikolaos Tripodakis, our head of LNG commercial, for an update on our LNG fleet and the market. Nikolaos.