By A. Tsiblakis
Greek ship owners and Greek-controlled shipping companies are ready to cash in on the LNG sector, given that they are the biggest investors worldwide in the specific type of seaborne transportation after 2010.
The investment reaches 10 billion USD between 2011 and 2014, and specifically involves orders for 52 LNG carriers by Greek-controlled interests.
At least two well-known ship brokerage firms, Alibra and Drewry, recently expressed an opinion on the LNG sector’s prospects, with the first expressing reservations, but with the second pointing to increased demand through 2020.
For Alibra’s analysts, the noteworthy decrease in the sector’s rates after 2014 is an important factor, as the broker asks whether “in the end, the Greeks made a mistake?” by investing so heavily in the sector.
Alibra’s query is followed by a subsequent assessment from Drewry, which considers that regardless of the current situation and whatever changes the widening of the Suez Canal brings to the entire shipping sector, a shortfall of 65 LNG vessels will exist in 2020 to meet demand at the time.
One of the leading LNG carriers worldwide is the Angelicoussis group. Other Greek controlled shippers with significant investments in the LNG sector are the Dynagas group, which is controlled by Giorgos Prokopiou; Peter Livanos’ Gaslong; Thenamaris, controlled by the Martinos group; the Tsakos group’s TEN and Giorgos Economou’s Cardiff group.
