Of George Georgiou
The investments of Greek shipowners in the LNG sector are accelerating, as it seems that it has now been “defined” in a sense from the shipping market to the ideal fuel for the transition to the era of zero emissions.
The latest example is said to be Capital Gas, the LNG arm of Vangelis Marinakis’ group. In particular, freight brokers link shipping with the ordering of three LNG carriers at a South Korean shipyard.
The price has not been announced, but shipping sources point out that the price for building an LNG carrier is now over $ 200 million.
The high total cost of the investment testifies to the “faith” of the company for depreciation in the future, through the numerous projects that are being launched today.
It is recalled that Capital Gas recently ceded to the group’s listed company, Capital Product Partners, six LNG carriers, in an intragroup transaction that exceeded $ 1.2 billion.
Capital Gas fleet currently consists of nine modern LNG carriers, the oldest of which is built in 2020. These ships have a capacity of 174,000 cubic meters each, XDF engines and are equipped with modern technologies.
Why invest in LNG
Similar investments have been made in recent months by Maran Gas of the Angelikoussi group, Dynagas LNG Partners by George Prokopiou and other important “players”, as they “see” that the share of LNG in the global energy mix will increase in the coming years.
As he explains in Capital.gGreek shipping company listed on Wall Street, LNG supply is expected to double by 2040. “This means that demand for fuel-carrying ships will skyrocket,” he added.
Responding to the criticism leveled at LNG, as it is overwhelmingly composed of methane, he notes that compared to conventional fuels it reduces carbon dioxide (CO2) emissions by 20-30%, while sulfur oxide (SOx) emissions are zero and Nitrogen oxide (NOx) emissions are quite limited.
“Today, there are no other practical and direct technologies that can meet the needs of seafaring. The only practical practical source of energy is LNG,” he said. and the infrastructure that supports its use.
At the same time, it concludes, in a strong freight market, such as today, companies that buy LNG carriers provide long-term charters, which offers permanent employment in the fleet, even in the lower parts of the shipping cycle.
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Source From: Capital
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