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.

- Advertisements -

Most Popular

Technip Energies CEO: Eni’s Coral Norte FLNG has ‘potential’ for FID in 2024

Eni's second floating LNG production project in Mozambique has "potential" for a final investment decision in 2024, according to...

Commonwealth LNG pushes back FID to H1 2025

Commonwealth LNG has postponed a final investment decision on its 9.3 mtpa LNG facility in Cameron, Louisiana. According to Commonwealth...

NFE expects to launch Altamira LNG production in March

US LNG firm New Fortress Energy expects to start production of liquefied natural gas at its first FLNG project...

More News Like This

Chinese JV to order two more LNG carriers at DSIC

A joint venture consisting of China Gas, Wah Kwong Maritime Transport, and CSSC Shipping is expected to order two...

First Northern Lights LCO2 carrier gets tanks

Northern Lights JV's first LNG-powered liquefied CO2 carrier has received two LCO2 tanks as construction on the vessel continues...

LNG carrier orders dip from record 2022

Orders for liquefied natural gas (LNG) carriers in South Korea and China dropped significantly in 2023 from the record...

Capital Product Partners welcomes newbuild LNG carrier to its fleet

New York-listed Capital Product Partners has taken delivery of a newbuild liquefied natural gas (LNG) carrier from South Korea’s...