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Maran Gas continues LNGC fleet expansion

Wed 27 Feb 2019 by John Snyder

Maran Gas continues LNGC fleet expansion
Angelicoussis Group chairman John Angelicoussis (left) and DSME president Jung Sung Lee at the contract signing for the construction of two LNG carriers

Following its recent order for an LNG carrier with 174,000 m3 capacity, Greece-based Maran Gas Maritime has gone back to South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) for two more.

Maran Gas Maritime, part of the Angelicoussis Shipping Group, ordered two LNGCs, each with a capacity of 174,000 m3, at a total cost of US$380M on 25 February. The latest newbuilds will be constructed at DSME’s Geoje Okpo shipyard and delivered by the end of 2021. 

Since its first contract in 1994, the Angelicoussis Shipping Group has been DSME’s biggest customer, placing orders for 104 ships.

In a statement, DSME said that despite the recent issues resulting from the proposed merger with Hyundai Heavy Industries, owners trust DSME technology. "We will do our best to achieve the order target this year," added the company.

HHI has a preliminary agreement to acquire  DSME. A formal agreement is expected to be signed next month.

Thus far, DSME has won nine ship orders, including six very large crude oil carriers and three LNG carriers worth US$1.1Bn worth of vessels. As of the end of January, DSME had a backlog of 106 commercial and naval vessels worth US$22.3Bn, including 37 LNGCs and one FSRU.

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