Capital orders LNG-powered VLCCs in China

Greece’s Capital Maritime, led by Evangelos Marinakis, has ordered four LNG-powered very large crude carriers at China’s Dalian Shipbuilding Industry (DSIC), according to shipbuilding sources.

CSSC’s DSIC said in a statement on Wednesday it has signed orders for 4+2 LNG dual-fuel powered VLCCs and also for 6+2 conventional fuel VLCCs with two “well-known European shipowners”.

The shipbuilder did not reveal the names of the owners but shipbuilding sources told LNG-Prime that Marinakis-led Capital is behind the order for the LNG-fueled VLCCs while John Fredriksen-led Seatankers ordered the other ships.

According to DSIC, the LNG dual-fuel VLCCs will feature ME-Gi propulsion and two type C LNG tanks.

China Shipbuilding Industry Corporation (CSIC) said in a separate statement that the contracts for all of the VLCCs are worth in total about $1.8 billion.

CSIC said the deliveries of the VLCCs will start from the end of 2026.

Capital orders LNG-powered VLCCs in China
Image: DSIC

Marinakis said in November last year during a conference in Athens that Capital is looking to order LNG dual-fuel vessels, including VLCCs.

In June 2023, Capital Ship Management signed a deal with China’s New Times Shipbuilding in Jiangsu for the construction of up to six LNG-powered tankers.

Last year, Capital Ship Management took delivery of the sixth LNG-ready chemical/product MR tanker from Hyundai Vietnam.

Prior to that, it welcomed in its fleet two ammonia and LNG-ready VLCCs, the 300,000-dwt Alterego and Amore Mio.

According to Capital Ship’s website, the firm has a fleet of 36 tankers, including 11 VLCCs, 11 Aframaxes, 7 MR/handy product tankers, and 1 small tanker.

Out of these, eight LNG dual-fuel crude oil tankers are on order at NTS and scheduled for delivery during 2025-2027.

Capital Ship also has four LNG dual-fuel tankers in operation, delivered in 2018 and 2019, the data shows.

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