Shipping magnate Angelicoussis big spender at Posidonia

JUNE 15, 2016—Billionaire Greek shipping magnate John Angelicoussis was the biggest spender at the recently concluded Posidonia 2016 Exhibition in Athens.

Angelicoussis, owner of Angelicoussis Shipping Group, which includes Anagel Maritime Services, Maran Tankers and Maran Gas Maritime, bought eight vessels at the trade show. The resell value of these newbuilding contracts are now worth $1.2 billion, according to VesselsValue. The eight vessels are comprised of four LNG carriers (total of 720,000 cubic meters) and four VLCCs (total of 1,275,600 dwt).

At Posidonia, Korea's Daewoo Shipbuilding & Marine Engineering (DSME) announced it had signed contracts with Maran Gas Maritime and Maran Tankers Management for the construction of two 173,400 cubic meter capacity LNG carriers and two 318,000 dwt VLCCs. Both ship orders contain options for additional newbuilds.

The LNG carriers will each have a length of 295 meters and beam of 49 meters, and be fitted with two MAN B&W 5G70ME-C9.5-GI gas and fuel burning engines. The engines will meet IMO Tier III by exhaust gas recirculation (EGR) in both gas and fuel mode.

The VLCC carriers, with a length of 336 meters and beam of 60 meters, will each be powered by a single MAN B&W 7G80ME-C9.5 engine that will be fitted with EGR to meet IMO Tier III compliance.

The LNG carriers will be dleivered in 2019 and the VLCCs in the first half of 2018.

The Posidonia Exhibition, which was held from June 6-10 at the Athens Metropolitan Expo, set records in attendance, drawing 22,000 shipping industry professionals and more than 1,800 exhibitors from 90 countries.

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