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Greek shipowners continue aggressive LNGC fleet expansions

Thu 28 Feb 2019 by John Snyder

Greek shipowners continue aggressive LNGC fleet expansions
Capital Gas now has five 174,000-m3 LNG carriers on order Source: Capital Gas

With LNG demand continuing to rise globally, Greek shipowners have been aggressively expanding their LNG carrier fleets. The latest to order more new tonnage is Capital Gas Corp, which has reportedly confirmed another 174,000 m3 newbuild with South Korea’s Hyundai Heavy Industries. The LNGC will be delivered in 2021.

As a result of its latest contract, Capital Gas now has five newbuilds on order including Aristos I, Aristidis I, Aristarchos, Attalos and the as-yet-unnamed newbuild. All the ships have capacities of 174,000 m3 and will be fitted with WinGD XDF gas-injection propulsion and a Mark III Flex cargo containment system from GTT.

Capital Gas is headed up by Evangelos Marinakis, who is also the owner of football clubs Olympiacos in Greece and Nottingham Forest in England. Capital Gas maintains additional options for LNGCs for delivery in 2021 and 2022.

The newbuild contract from Capital Gas follows in the wake of an order by John Angelicoussis-led Maran Gas Maritime, announced on 25 February – a US$380M contract for two 174,000-m3 LNCs from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME). Maran Gas has ordered three 174,000 m3 LNGCs from DSME this year.


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