The company Akrotiri Tankers, managed by Marilena Prokopiou and Konstantinos Lempesias, has recently begun its first move towards gas transportation by ordering two very large ammonia carriers (VLAC). These tankers, with a capacity of 93,000 cubic meters, have been ordered from the New Times shipyard in China for delivery in 2029.
Expansion of Akrotiri Tankers' Activities
This contract allows Akrotiri to go beyond the tanker sectors it has focused on since its establishment in 2021. The company initially concentrated on LR1 tankers and then moved towards larger tankers for crude oil transportation earlier this year.
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Previous reports indicate that Akrotiri Tankers returned to New Times in April for its first Suezmax tanker, which weighs 157,000 tons and is estimated to cost around $82 million. This ship is also scheduled for delivery in 2029. This contract follows the company's first new construction move late last year, which included two LR1 tankers for delivery in 2028.
Outlook for the Gas Transportation Market
With the new order, Akrotiri Tankers enters a new segment of the gas transportation market, and this move represents the company's first disclosed investment in specialized gases. As a newcomer in the market, this move signifies the expansion of the company's activities and the acquisition of a larger share of the global gas transportation market. By entering this sector, Akrotiri Tankers can respond to the growing needs of the gas market while reducing the risks present in the oil market.
Currently, Akrotiri Tankers has three LR1 tankers in the water and is continuously increasing new investments in New Times. These movements reflect a broader strategy to diversify the fleet and enhance the operational capabilities of the company in various markets.
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