Angelicoussis Shipping Group 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.

Wärtsilä announce it has signed a renewal of its Optimized Maintenance Agreement with the Greek shipping company Maran Gas Maritime, part of Angelicoussis Shipping Group (ASGL). The new agreement will run for five additional years, and is designed to ensure operational certainty with controlled and predictable costs for Maran Gas’s fleet of 21 TFDE LNG carrier vessels. The signing took place on May 3, 2022.The Maran Gas vessels are all powered by Wärtsilä 50DF dual-fuel engines.

A Bangladeshi woman whose husband died while dismantling an oil tanker at a shipbreaking yard in 2018 can file a negligence claim against a British company involved in the vessel’s sale, London’s High Court ruled this week.Khalil Mollah, 32, fell to his death while working on a tanker called the EKTA in the port city of Chattogram in southeastern Bangladesh, where scores of end-of-life ships are sent to be scrapped each year.British lawyers representing his widow, Hamida Begum, took her case to court in April 2019, arguing that Maran (UK) Ltd was responsible for the ship ending up in Banglades

South Korean shipbuilding major Daewoo Shipbuilding & Marine Engineering Co (DSME) said that it has secured a US$380 million order to build three vessels from Angelicoussis Shipping Group (ASGL), the Greek provider of marine shipping services.DSME will build a liquefied natural gas (LNG) carrier for Maran Gas Maritime Inc. and two very large crude carriers (VLCCs) for Maran Tankers Management Inc.Maran Gas Maritime and Maran Tankers Management are subsidiaries of Angelicoussis Shipping Group.According to a report in Yonhap, the LNG carrier will be guilt by DSME with a capacity of 174,000 cubic meters will be delivered by the first quarter of 2022.Two 318…

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has received a new liquefied natural gas (LNG) carrier order from Maran Gas Maritime, part of Angelicoussis Shipping Group. DSME said that the order from the Greek shipping company is for a 174,000 cbm LNG carrier.The shipbuilder would construct the unit at its Geoje Okpo Shipyard. The new vessel is scheduled for delivery by the fourth quarter of 2021.The vessel will be equipped with DSMEs advanced partial re-liquefaction system (A-PRS).Maran Gas has ordered six out of the seven LNG carriers DSME booked this year.DSME's 2019 order-book currently stands at around USD 3 billion and includes 17 vessels, seven of which are LNG carriers.

South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co (DSME) said  that it has won a deal to build a liquefied natural gas (LNG) carrier from Maran Gas Maritime (MGM).The affiliate of Greece’s largest shipper, Angelicoussis Shipping Group ordered the 174,000 cbm unit on June 12.According to Yonhap, The vessel will be built at Geoje Okpo Shipyard and is scheduled for delivery by the first half of 2022.The Korean shipbuilder said that Maran Gas Maritime is one of its biggest customers who has ordered five of its six LNG carrier newbuilds this year and is also discussing additional LNG carrier orders.With the order, Daewoo Shipbuilding has achieved 32 percent…

As the clock ticks toward January 1, 2020 and the implementation of strict new emission regulations from the International Maritime Organization, WinGD is reporting a solid order intake for the first quarter of 2020 for their low-pressure, dual-fuel two-stroke engines, powered by a newbuild order spree of LNG carriers specifying WinGD’s XDF engines. In addition, WinGD reports a broadening range of vessel types are selecting dual fuel solutions, including Chemical & Crude Oil Tankers, Asphalt Carriers and Container Feeders.

South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co (DSME) said  that it has secured a deal to build a liquefied natural gas (LNG) carrier from Maran Gas Maritime Inc.DSME is expected to deliver the 174,000-cubic meter LNG ship during the first quarter of 2022 to  Maran Gas, the gas shipping unit of Angelicoussis Shipping Group, said a report by Yonhap.The deal is estimated to be worth some US$188 million, industry sources said. Since 1994, Daewoo Shipbuilding has secured orders from the Greek shipping firm to build a total of 105 ships.So far this year, DSME secured a combined USD 1.3 billion worth of orders. The builder’s 2019 orderbook includes four LNG carriers…

South Korea’s shipbuilding giant Daewoo Shipbuilding & Marine Engineering (DSME) has received a contract to build two more liquefied natural gas (LNG) carriers for Greek shipping company Maran Gas Maritime, a unit of Angelicoussis Shipping Group.DSME said that the contract has a value of KRW 419.9 billion (USD 375.2 million).Under the deal with Maran Gas, DSME will build the two 174,000-cubic-meter LNG carriers by the end of 2021, the company said in a statement.Daewoo Shipbuilding has obtained USD1.1 billion worth of orders so far this year to build nine ships, including six oil tankers, it said.Last week, DSME won an order from Maran Gas to build one 174…

South Korea’s shipbuilding giant  Daewoo Shipbuilding & Marine Engineering (DSME) has secured an order for a liquefied natural gas (LNG) carrier from Greece-based shipowner.According to Yonhap News Agency the South Korean shipbuilder received an order to build an LNG carrier for Maran Gas Maritime, a unit of the Angelicoussis Shipping Group.The newbuilding - 174,000 cbm ship - is expected to be delivered to its owner by the first half of 2021. The value of the contract has not been disclosed.Daewoo Shipbuilding has obtained US$740 million worth of orders so far this year to build seven ships, including oil tankers, Yonhap said.Daewoo Shipbuilding is aiming to win $8 billion worth of new orders in 2019, up 10 percent from last year's order target of $7.3 billion.

South Korean shipyard Daewoo Shipbuilding and Marine Engineering (DSME) has bagged an order from the Angelicoussis Shipping Group’s unit Maran Gas Maritime, for a floating storage and regasification unit (FSRU). The local media which quoted DSME sources saying Tthat the vessel with a 173,400 cubic meter storage capacity is the 100th vessel ordered by the Angelicoussis Shipping Group at DSME since 1994. The FSRU with a length of 295 meters and a width of 46 meters is scheduled for delivery in the first half of 2021. According to a report in the Pulse, although the shipbuilder did not disclose the value of the deal, industry watchers estimated it would be worth 230 billion won ($206 million) to 250 billion won.

U.S.-based ballast water treatment system (BWTS) manufacturer Ecochlor, Inc. said it has been awarded a contract to retrofit 36 vessels, including Suezmaxes, Aframaxes, VLCCs, Minicapes and Capes for Angelicoussis Shipping Group Limited (ASGL). Installations are expected to take place between 2018 and 2020 in Singapore, Dubai, Qatar and China.Ecochlor CEO Steve Candito remarked, “Having both IMO and USCG Type Approval were very important factors in the selection process by ASGL.

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.

A wholly-owned subsidiary of Tellurian has entered into a six-month time charter contract with Maran Gas Maritime for a liquefied natural gas (LNG) tanker, the Maran Gas Mystras. Tellurian took delivery of the tanker at Galle, Sri Lanka on October 1, 2017. President and CEO Meg Gentle said, "At Tellurian, we are building a global natural gas business and proactively shaping the company to build long term value amid a robust and dynamic market. As winter approaches, we will begin buying and delivering LNG on the Maran Gas Mystras, one of the most efficient vessels in the Maran Gas fleet. Built in 2015, the Maran Gas Mystras is a tri-fuel diesel electric (TFDE) propulsion vessel with 160,000m3 of storage capacity.

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) won its second order from Maran Tankers Management (MTM), a subsidiary of  Greek shipping giant Angelicoussis Shipping Group,  to build four very large crude carriers (VLCCs). Yonhap quoted a regulatory filing of Daewoo saying that it will deliver the 318,000-ton vessels by Aug. 20, 2019. The vessels, 336 meters long and 60 meters wide, will be powered by eco-friendly and fuel-efficient engines, the shipyard said. Daewoo did not reveal the value of the latest deal. However, given a typical VLCC costs around $80 million won, the order is estimated at $300 million. DSME will buid the vessels in the latest eco-friendly design in compliance with the environmental regulations of the International Maritime Organization (IMO).

Wärtsilä and Maran Gas Maritime (MGM) extend their current cooperation with a five-year maintenance agreement covering the maintenance of MGM's 21 TFDE (tri-fuel diesel electric) LNG carriers that are equipped with Wärtsilä 50DF engines. Maran Gas Maritime Inc. is the LNG shipping unit of the Angelicoussis Shipping Group and one of the major players in the worldwide LNG transportation. The group company operates a fleet of approximately 130 merchant vessels globally with 33 of these being LNG vessels - 21 of which are TFDE.

The creditors of Daewoo Shipbuilding & Marine Engineering (DSME) still remain undecided over afor the shipyard's latest deal, further complicating troubles for one of the country's major shipyards, Yonhap reported. DSME  clinched a US$250 million deal to build three very large crude carriers (VLCCs) on April 4. Under the deal with Maran Tankers Management, a unit of Greece's largest shipper Angelicoussis Shipping Group, Daewoo Shipbuilding will deliver the 318,000-ton VLCCs by 2018. The deal came as the shipyard is suffering from a sharp decline in new orders amid a protracted industrywide slump. "We are still talking about (this), and the state-run creditors and commercial lenders have to narrow their differences on the terms," a source said, asking not to be named.

Daewoo Shipbuilding & Marine Engineering Co. (DSME) has bagged a combined 700 billion won (US$590 million) in potential orders from Maran Tankers Management, a unit of Angelicoussis Shipping Group, reported Yonhap. Under the agreement with the Greece's largest shipper the troubled South Korean shipbuilder will provide a liquefied natural gas-floating storage and regasification (LNG-FSRU) ship. The contract also includes an option to build two more LNG tankers if Angelicoussis Shipping Group satisfies with the first deal to build the LNG-FSRU. The LNG-FSRU is expected to be built at the Okpo Shipyard in Geoje, South Gyeongsang Province, and the scheduled delivery will take place by early 2020.

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.

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.

Induction-based electric propulsion motor technology from GE’s Power Conversion business will be used to power four new LNG carriers that Korean shipbuilder Hyundai Heavy Industries will build for Maran Gas Maritime, the gas shipping unit of the Angelicoussis Shipping Group. Contracts for the propulsion systems were signed in late May. Hyundai Heavy Industries will deliver the vessels over a 15-month period beginning in July 2015. In late April of this year, sea trials were completed…

Daewoo Shipbuilding & Marine Engineering (DSME) has signed new contracts with Maran Gas Maritime and Maran Tankers Management for the construction of two ME-GI powered LNG carriers and two VLCCs, both shiptypes with a number of options. Maran Gas Maritime has already four ME-GI powered LNG carriers on order at DSME. Maran Gas Maritime is the LNG shipping company of Angelicoussis Shipping Group, Greece’s largest shipowner, and Maran Tankers Management is the tanker arm of Angelicoussis. The Korean shipbuilder announced on June 9 that it won the orders at the international shipping exhibition Posidonia in Greece. The LNG carriers are slated for delivery in 2019 and the VLCCs are due in the first half of 2018.