Angelicoussis pens orders for DSME VLCCs and LNG carriers

Posidonia wouldn’t be Posidonia without a Greek putting pen to paper for a headline grabbing newbuild contract. John Angelicoussis, who has form in this department, has done the dutiful: inking a stellar $580m deal at the show. His firms, Maran Gas Maritime and Maran Tankers Management, have penned deals with its favoured yard, troubled Daewoo Shipbuilding & Marine Engineering (DSME) for construction of two LNG carriers and two VLCCs respectively. The deal is the largest order any Korean yard has received this year.

The deal comes with options to double the scale of the orders.

The 173,400 cu m LNG carriers are slated for delivery in 2019 while the 318,000 dwt VLCCs are due in the first half of 2018.

DSME is going through a massive restructuring at present with many layoffs on the back of huge losses, a slumping orderbook and an alleged accounting fraud.

Angelicoussis is one of DSME’s most regular clients – and also has a habit of going for high profile contracts every couple of years during Posidonia week.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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