Capital Clean Energy Carriers Corp. (NASDAQ: CCEC) announced it will sell a 49% stake in its LNG carrier Amore Mio I to form a joint venture with an affiliate of BGN Group, with the transaction expected to close in the first quarter of 2027.

The joint venture will be structured through BM Capital HoldCo LLC, where CCEC retains a 51% interest and BMarine Shipping Investment FZCO holds 49%. The vessel, a 2023-built 174,000 cubic meter LNG carrier, will be acquired by BM Capital LLC for $230 million.

BGN INT DMCC has secured a 10-year time charter for the vessel, with two three-year extension options. The charter is expected to generate aggregate revenues of up to approximately $485.6 million if all options are exercised, extending operations until 2043.

The existing financing on the vessel will be refinanced upon acquisition completion. Following this transaction, CCEC's LNG carrier fleet will have an average remaining firm charter duration of 6.9 years and $2.9 billion in contracted revenues, increasing to 9.9 years and $4.3 billion if all extension options are exercised.

CCEC operates a fleet of 14 vessels, including 12 LNG carriers, one handy LCO2/multi-gas carrier, and one container vessel. The company has an additional 18 vessels under construction scheduled for delivery between the second quarter of 2026 and first quarter of 2029.

BGN Group describes itself as the sixth largest independent energy and commodities trading group, handling approximately 65 million metric tons of commodities annually. The company has stated plans to add two LNG vessels by 2027 and ten LPG vessels by 2028.