- Greek shipping sector is dominating the LNG sector with a combined fleet worth $14bn.
- John Angelicoussis’ Maran Gas Maritime leads the way with its 27-strong trading fleet and 10 ships on order worth $3.98bn.
- Greek interests accounted for 32 of the 60 large-size LNG carrier newbuildings contracted in South Korea in 2018.
The footprint of the Greek shipping sector has been becoming more evident in the transportation of gas.
Greek LNG scenario
Greece’s top five LNG carrier owners presently have a combined fleet worth just shy of $14bn, including ships worth $6bn which are yet to be commissioned.
According to research by ship evaluator VesselsValue, Greece’s largest shipowner, John Angelicoussis’ Maran Gas Maritime leads the way with its 27-strong trading fleet and 10 ships on order worth $3.98bn having grown since first entering the sector some five years ago to become one of the top private LNG owners globally.
The strength of a combined fleet
However, the combined fleets of NYSE-listed Peter G Livanos-led GasLog Ltd and MLP spin-off GasLog Partners top Maran, with GasLog’s fleet valued at $3.305bn and the partnership’s fleet at $1.74bn. Christos Economou’s fast-expanding TMS Cardiff Gas comes in at $3.07bn. With 11 vessels, worth $2.4bn, TMS Cardiff holds the biggest order book.
Greece’s top five gas ship owners are rounded out by George Procopiou’s Dynagas Holdings which VV valuing the fleet at $1.72bn.
Investment in newbuilds
According to Clarksons, Greek interests accounted for 32 of the 60 large-size LNG carrier newbuildings contracted in South Korea in 2018. Relative newcomers Evangelos Marinakis-led Capital Gas accounts for 10 of these worth $742.3m and Anna Angelicoussi-controlled, Alpha Gas, has orders worth some $562m, with more in the pipeline.
Angelicoussis’ Maran Gas Maritime has reportedly carried the most US LNG export cargoes for the third year in a row.
According to latest data, the Athens-based company shipped 39 cargoes in 2018, ahead of Livanos’ Gaslog, and MLP spin-off Gaslog Partners’ 37 cargoes. Teekay was third with 28 LNG carriers. Tsakos Energy Navigation’s (TEN) 174,000 cu m Maria Energy, built 2016, carried the most cargoes on an individual ship basis with eight shipments in 2018, reported Bloomberg.
South Korea trails behind
Two South Korean owners – Korea Line Corp (KLC) and Hyundai LNG Shipping – made the top 10 with 14 and 11 cargoes, respectively. Two Chinese finance houses were also represented – ICBC Financial Leasing Co and China Development Bank – with 15 and four cargoes, respectively. The top 10 was rounded out by owners from Europe, Knutsen OAS Shipping, Golar LNG and Stena Bulk.
Did you subscribe for our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Seatrade-Maritime
