Angelicoussis group places 10th LNG carrier order; Greek shipping takes lead in global sector

Tuesday, 11 December 2018 11:48

By L. Karageorgos

The high-flying Angelicoussis Shipping group has placed another order for a LNG carrier with Korea's Daewoo Shipbuilding & Marine Engineering (DSME), with the shipyard referring to a completion date in 2021.

The development means that Angelicoussis, led by NYC-based shipowner John Angelicoussis, has 10 such super vessels under order, and also confirms the leading position of Greek shipping interests in the worldwide LNG sector.

When completed, the group, through its subsidiary, Maran Gas, will control a fleet of 37 LNG carriers, one of the biggest transporters of liquefied natural gas in the world. Twenty-seven out of the 37 are already in operation.

The specific fuel is transported only by sea.

The Angelicoussis group since 1994 has ordered a total of 101 vessels from DSME, with the company's leadership stressing its determination to support the Korean shipyard in overcoming its financial difficulties. 

DSME in 2018 has reached new orders totaling a value of 6.2 billion USD, 85 percent of its annual goal of 7.3 billion USD.  

Besides the Angelicoussis group, the Latsis shipping group recently also entered the sector, with discussions begun with Hyundai Heavy Industries over the construction of two LNG carriers.

For the current year, the sector leader is Christos Economou's TMS Cardiff Gas, with orders for eight LNG carriers from two shipyards.

Peter Livanos' GasLog is third, internationally, with five new orders from Samsung Heavy Industries, followed by Vangelis Marinakis' Capital Gas with four orders.  

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