Alpha Gas, the owner of a Greek ship, has recently turned to building gas tankers in China and has signed a contract for the construction of two very large gas carriers (VLGC) with Hengli Heavy Industries. This move, led by Anna Angelikousis, the group’s director, aims to expand the company’s fleet.
Contract Details
According to obtained information, these two tankers have a capacity of 88,000 cubic meters and are capable of carrying ammonia, with completion expected in 2029. This contract was signed in September 2023; however, details have only recently been released. The price of this contract has not yet been disclosed.
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Transformation in Construction and Supply Strategy
This contract marks Alpha Gas's first venture into shipbuilding in China, while the company had previously relied on South Korean shipbuilding industries for its gas carriers. Alpha Gas has been active in the VLGC sector since 2024 and currently has two VLGCs and eight LNG tankers in its fleet.
The company is also expanding its list of LNG ship orders. In January, Alpha Gas registered two LNG tankers with a contract worth 738.3 billion South Korean won (equivalent to $503 million) at Hanwha Ocean, which are also scheduled for completion in 2029.
Business Relations with Hengli
The recent contract strengthens the Angelikousis group’s relationship with Hengli. Its sister company, Pantheon Tankers, is also expanding its list of crude tanker orders at this Chinese yard. Earlier this year, Pantheon was linked to four large tankers with a capacity of 306,000 tons DWT at the Dalian builder, adding to a series of contracts secured from Greek owners.
Given the global trend of increasing demand for gas and LNG tankers, these actions could help strengthen Alpha Gas's position in the international market and also demonstrate the company’s willingness to diversify and utilize shipbuilding facilities in China.
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