A Greek shipping company is seeking to bolster its fleet of ships and tankers by placing orders for the construction of nine new units.
Capital Group, owned by Evangelos Marinakis, signed contracts with two basins in China and South Korea at the end of 2025.
The contracts cover oil and liquefied gas tankers, as well as cargo ships, for delivery between 2027 and 2029, with a value exceeding $1 billion.
The shipbuilding orders market has witnessed significant growth recently, both from European and Asian companies, driven by increasing demand for hydrocarbons and the expansion of liquefied natural gas projects.
Greek shipping company contracts end 2025
A Greek shipping company has agreed to build a number of oil and liquefied gas tankers and cargo ships, as part of revitalizing its massive fleet portfolio and ensuring its diversification.
Capital Group awarded six contracts to Chinese shipbuilder Hengli Heavy Industries at the end of last December.
The contracts included:
- Two very large crude carriers (VLCCs).
- 4 large "Capesize" ships for shipping dry cargo.
The agreement indicates that the four units will be delivered starting in the second half of 2027 and 2028, at a value ranging between 400 and 600 million US dollars, according to details reported by Riviera Maritime Media.
This collaboration – between a Greek shipping company and China’s Hengli Dockyard – will raise the number of construction contracts to 9 units.
In addition to the two crude oil tankers and the four cargo ships, the two companies had previously agreed to build a very large crude carrier and two LR2-class refined product tankers.
LNG fleet
The latest package of contracts from shipping company Capital Group included an agreement to build three liquefied gas carriers at a shipyard belonging to HD Hyundai Samho in South Korea.
The company submitted the construction application through the group's gas shipping arm, Capital Clean Energy Carriers (CCEC).
The agreement stipulates that the three tankers will be delivered between 2028 and 2029, with a total value of up to $769.5 million.
Plans are underway to provide the tankers with advanced fuel consumption upgrades, making them among the most efficient LNG carriers in the global fleet.
The CEO of the subsidiary, Jerry Kalogiratos, views the advanced LNG carrier deal as "strategic," both in terms of pricing and payment terms.
It is noteworthy that the delivery period specified in the contract coincides with the launch and commissioning of a number of global liquefied natural gas projects, which strengthens the demand for tanker construction.
The agreement, signed at the end of last month, is not the first collaboration between the Greek shipping company and the Korean company "HD Hyundai," as they had previously contracted last year to build container ships.
The newer tankers, once delivered, will increase the fleet size of the subsidiary "CCEC" to:
- 12 liquefied gas tankers in operation.
- 9 tankers are on order.
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