The shipbuilding rally in bulk carriers, tankers and LNG carriers that George Oikonomou’s Group started in 2022, continues this year.
According to “Naftemporiki” sources, TMS Dry, the group’s dry bulk carrier arm, has ordered two kamsarmax bulk carriers with a capacity of 82,000 dwt each to the Chinese shipyard Chengxi. The two ships are expected to be equipped with scrubbers.
Shipping brokers reported that each ship will cost 36.5 million dollars, adding that their delivery is expected to be completed within 2025.
Series of investments
These two bulk carriers will be added to a series of investments that the Group has made in newbuild and used tonnage since last year. Based on the estimates of “Naftemporiki”, he spent more than 2.2 billion dollars in 2022, while this year he seems to have spent more than 760 million dollars.
Regarding this year’s orders, in dry cargo, in addition to the latest contracts, it is said to have agreed for four newcastlemax-type large vessels at the Chinese COSCO HI Yangzhou shipyard. As for the purchase of tankers, in January, the Group seems to have ordered three aframaxes to Cosco, while it has also ordered two more vessels of this type to China’s New Times Shipbuilding.
Recently the Group also made a surprise move, strengthening its fleet with a second-hand LNG carrier. More specifically, a few days ago the Condor LNG (capacity 145,000 cubic meters and built in 2006) joined the fleet. This is the former GasLog Athens that belonged to GasLog of Peter Livanos. According to platform MSI Horizon, the value of the ship today is estimated between 46.8 and 62.5 million dollars.
