Reports Capital Maritime eyes major LNG-powered VLCC new order deal

Friday, 04 October 2019 23:07
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By A. Tsimplakis

Greek shipping interests continues to lead the global field in terms of new LNG vessel orders, while at the same time investing in vessel that can also use the natural gas as their propulsion fuel.

One particularly high-profile company, Capital Maritime & Trading, owned by Greek shipping magnate Evangelos Marinakis, appears as a pioneer in the field.

According to reports, a meeting between the company’s leadership and high-ranking executives of Korean shipbuilder Hyundai Heavy will come in the next few days to finalize an agreement for new orders.

Capital’s interest in VLCCs fueled by LNG became known when Shell began negotiations with three major shipping companies over the construction of the first-ever “double fuel” VLCC.

Information leaked so far is only sketchy, with a letter of intent signed between the two sides reportedly referring to a 10+4 option for new double fuel vessel, and with an initial investment at roughly 1.5 billion USD.

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