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Capital Gas continues LNG carrier ordering spree

Thu 02 May 2019 by John Snyder

Capital Gas continues LNG carrier ordering spree
Capital Gas Corp now has six 174,000 m3 carriers on order at HHI

Continuing its newbuilding programme, Greek shipowner Capital Gas has ordered its sixth 174,000-m3 LNG carrier from South Korea’s Hyundai Heavy Industries (HHI), according to UK-based BRL Shipping Consultants.

BRL reported that employment for the LNG carrier has not yet been confirmed. As in the previous LNG carriers ordered, the new vessel will have WinGD X-DF gas-injection, dual-fuel engines and Mark III Flex cargo containment systems. The ship will be delivered in December 2020, according to BRL.

Evangelos Marinakis-led Capital Gas has confirmed names for four of the newbuilds: Aristos IAristidis IAristarchos and Attalos, respectively. All the LNG carriers will be delivered in 2020 and 2021.

The LNG carriers are for Capital Gas Corp, established by Mr Marinakis in 2018, when the shipping company’s first four ships were ordered at HHI under a US$744M contract. The owner’s long-established shipping company, Capital Ship Management Corp, operates a 60-vessel fleet, comprising 41 tankers, four bulk carriers and 15 container ships.

Back in July, Mr Marinakis signed a letter of intent with HHI to construct up to 10 LNG carriers in the 170,000-180,000 m3 size range. It was reported at the time that an initial order for four ships would be accompanied by two sets of options of three vessels each.

With LNG demand continuing to rise globally, Greek shipowners have been aggressively expanding their LNG carrier fleets. Alpha Tankers, GasLog, Minerva Marine, TMS Cardiff Gas, Maran Gas and Thenamaris have all ordered LNGC newbuild tonnage over the last year from South Korean shipyards.

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