John Angelicoussis News

Daewoo Shipbuilding & Marine Engineering (DSME) has held a tree planting ceremony in honor of the late John Angelicoussis who passed away in 2021.The ceremony included the unveiling ceremony of a plaque engraved with the picture of the former of Angelicoussis Group who is held in high regard by the shipyard particularly because he offered support whenever DSME was in need. This included support through the dissolution of Daewoo Group in 1998, the Lehman Brothers financial crisis in 2008, and the liquidity crisis that continued from 2015.Angelicoussis was born in Piraeus in 1948.

Excelerate Energy and Maran Gas Maritime have signed a five-year bareboat charter agreement (BBC) for the floating storage regasification unit (FSRU) hull 2477.During the five-year BBC Excelerate will have the option to purchase Hull 2477. MGM is currently building Hull 2477 at Daewoo Shipbuilding and Marine Engineering (DSME) shipyard and is scheduled for delivery in April 2020, when the BBC will start.The vessel will have a storage capacity of 173,400 m3 and will be capable of operating as both an FSRU and a fully tradable LNG carrier.Hull 2477 will join Excelerate's existing fleet of nine FSRUs, all built by DSME, and will serve Excelerate's portfolio of regasification customers.

Nakilat has expanded its joint venture partnership with Greek shipping company Maran Ventures Inc., to include two additional LNG vessels. Maran Nakilat Co. Ltd. was first established in 2005 with four jointly-owned LNG vessels, and was further expanded on several occasions. This new agreement increases the number of vessels jointly-owned by Nakilat and Maran Gas from 13 to 15 vessels. The two newly added vessels, Woodside Rogers and Woodside Goode, are equipped with modern technology and built by Daewoo Shipbuilding & Marine Engineering Co (DSME). In addition, the two vessels are under long-term charter, and equipped with Dual Fuel Diesel-Electric (DFDE) propulsion models with a capacity of 159,800 cubic metres each. Nakilat’s Chief Executive Officer Eng.

Bahri, a global leader in transportation and logistics, is very optimistic about the future of the oil tanker market and it believes that there will continue to be demand for this market, said Mohammed Al-Sarhan, Vice Chairman of Bahri, who possesses extensive experience in oil and gas, transportation and logistics, and other sectors. He was talking in the annual Bahri Oil Transportation Forum, which was held in Dubai last week. John ‎Angelicoussis, Chairman of Angelicoussis Shipping Group Limited, said: “Markets where the population is high and where there is a very high GDP growth, for instance China and India, are markets that are immensely helping our industry.

Shipping tycoons Sohmen Pao, Fredriksen battle over DHT; Sohmen Pao's BW Group becomes top DHT owner with 33.5 percent to surpass Frontline as DHT's top shareholder. The move likely ends Frontline's ambitions to take over DHT, as DHT had twice rejected Frontline's advances. Privately-owned shipping firm BW Group became the top shareholder in tanker firm DHT Holdings on Thursday, in a surprise move that will probably end Frontline's ambitions to take full control of DHT. BW Group…

In the last month, we have seen the Baltic Dry Index (BDI) recover to the same level it was 12 months ago (see circles in fig.1). Vessel values have started to firm, but not at the same rate and are still at historically low levels. In the last 12 months, contrarian owners have taken advantage of the low values and have been buying cheap tonnage. With hindsight, this looks to have paid off with many values having increased above the purchase price. This article takes a look at which dry bulk owners have been buying the most in the last year.

Nakilat - Keppel Offshore & Marine (N-KOM), the joint-venture shipyard between Qatar’s Nakilat and Keppel Offshore & Marine, has signed a landmark agreement with the Angelicoussis Group of Companies to be the preferred shipyard for ship repairs in the Middle East. The agreement applies to all vessels operating under the Group’s three ship management companies. N-KOM is located at Erhama Bin Jaber Al Jalahma Shipyard, in Ras Laffan, State of Qatar. Maran Gas Maritime’s LNG carrier was the first vessel to be drydocked at the shipyard when it commenced operations five years ago and since then, the shipyard has gone on to service thirteen LNG carriers and tankers from Maran Gas and Maran Tankers. Nakilat Managing Director Eng.

Since ancient times, maritime trade has been a backbone of Greece’s economy with shipping playing the dominant role. Today, it is the second largest contributor to the national economy after tourism. It is the country’s geography with a coastline almost that of the U.S. (including Alaska) in length together with the mountainous nature of the landmass with 85% of Greek population living within 30 miles of the sea, that has been responsible in creating a strong influence on this industry. Although the country’s shipping experienced regression during the late Roman period, it grew in prominence during the last few centuries of Ottoman rule, when Greek traders dominated the grain trade between southeastern Europe and the West.

In June, John Angelicoussis attended the Graduation Ceremony at Webb Institute in Glen Cove on Long Island, New York. There he was honored with a Doctorate Degree in Commercial Sciences based on his lifelong achievements in the field of international shipping. Following this he gave the commencement address to the Class of 2010. John Angelicoussis spoke to the Class of 2010 about how the Angelicoussis Shipping Group Limited, one of the largest privately held shipping companies in the world today, was founded some 60 years ago by his father, Antonis Angelicoussis.

Wednesday fixture lists showed that VLCC owners had rallied in the wake of supertanker alliance Tankers International, following its example by pinning down deals at levels more than a third up on Monday's rates. Astro Centaurus, controlled by Greek magnate John Angelicoussis, was fixed out to Shell for an eastbound cargo from the Mideast Gulf at W57.5, while the Hyundai managed Universal Brave was booked by Singapore Petroleum Company for a similar journey at the same level, brokers said. The VLCC market plunged in June when Iraq cut output in protest at a joint U.S./British plan to revamp sanctions in place since the 1991 Gulf War. Brokers and analysts had predicted the slump would persist through September, when OPEC cutbacks were expected to hit demand.

A two-year fight for Swedish tanker company ICB Shipping ended Thursday in victory for Norway's Frontline -- but only after four of 12 ICB tankers are sold to a new group set up by key ICB players. An agreement between Frontline, ICB and ICB's main shareholder, Greek shipowner John Angelicoussis, values ICB at about 4.6 billion crowns and ends a stalemate over ownership. Bermuda-registered Frontline launched a hostile takeover bid for ICB in September 1997 with the aim of creating one of the world's largest quoted tanker companies, part of the consolidation emerging in the highly fragmented tanker industry.

A two-year battle for Swedish tanker company ICB Shipping ended Sept. 23 in victory for Norway's Frontline - but only after four of 12 ICB tankers are sold to a new group set up by key ICB players. An agreement between Frontline, ICB and ICB's main shareholder, Greek shipowner John Angelicoussis, values ICB at about $600 million and ends a stalemate over ownership involving several legal wrangles. Bermuda-registered Frontline launched a hostile takeover bid for ICB in September 1997 with the aim of creating one of the world's largest quoted tanker companies, part of the consolidation emerging in the highly fragmented tanker industry. "We feel that what we have agreed to is a creative solution although it does mean that Frontline has achieved its aim," ICB chairman Clarence Dybeck said.