Marinakis enters LNG market with order for 10 vessels at Hyundai

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The number of Greek owners entering the LNG market is steadily growing. Vangelis Marinakis is the latest to venture into this market, having put a 2 billion dollar plan in place which provides for the acquisition of LNG carriers.

According to sources, Marinakis has signed a Letter of Intent (LOI) with Hyundai Heavy Industries to build up to 10 vessels (170,000 – 180,000 cbm). Sources point out that an initial order of four vessels will be places, with options for more. The vessels will be delivered in 2020-2021 to a new shipping firm, Capital Gas. It is estimated that each vessels could cost up to 184 million dollars each.

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