CAPITAL Clean Energy Carriers, the Nasdaq-listed gas shipping-focused arm of Evangelos Marinakis’ Capital Group, has voiced confidence in the improving short-term picture for liquefied natural gas shipping, as well as the longer term outlook for its expanding fleet.

CCEC, formerly Capital Product Partners, has a core fleet of 12 modern LNG carriers with another six LNG carriers under construction and 10 versatile multigas and LPG/ammonia carriers also on order, all for delivery over the next three years.

While the company does not have any current exposure to the spot market for LNG carriers, which has been in the doldrums, it was “encouraging” to see rates trending upwards, said chief executive Jerry Kalogiratos.

“This positive pricing environment, combined with the continued retirement of older LNG carriers, underscores the growing economic cost and regulatory pressures on legacy tonnage,” he said.

In the second quarter, average spot rates increased by about 80% and one-year rates by about 25% compared with the first quarter of the year, said CCEC — albeit to relatively modest levels of $30,000 per day and $40,000 per day.

Last year was a record year for LNG carrier demolitions, with eight older vessels sold, and a further four vintage carriers were sold during the second quarter of 2025, according to Capital.

The removal of older, smaller and less efficient vessels was expected to continue at this pace, as pressure on them mounts from more rigorous regulations.

As this trend continued it would serve to reinforce the long-term value of CCEC’s “latest-generation” fleet, Kalogiratos said.

The company expected long-term prospects for modern, state-of the art LNG carriers “to remain robust given that the underlying global demand for LNG continues to be strong”.

Another “encouraging data point” was the slowing down of new LNG carrier contracting, with just eight new vessels ordered in the past two quarters.

The Greece-based owner posted a 27% increase in second-quarter revenues, which reached $104.2m thanks to the addition of three new LNG carriers over the three-month period.

Meanwhile, net income more than doubled to $29.9m for the quarter.

The company announced an unchanged quarterly dividend of $0.15 per share.

Financial results also included revenues from three 13,000 teu containerships left in the fleet despite the recent pivot to focus on gas carriers.