Economou bolsters gas shipping unit with Samsung Heavy newbuilds

George Economou-controlled TMS Cardiff Gas has returned to South Korea for another LNG carrier order, booking two newbuildings at Samsung Heavy Industries as the Greek owner continues one of the sector’s busiest fleet expansion drives.

Economou bolsters gas shipping unit with Samsung Heavy newbuilds. George Economou-controlled TMS Cardiff Gas has returned to South Korea for another LNG carrier order, booking two newbuildings at Samsung Heavy Industries as the Greek owner continues one of the sector’s busiest fleet expansion drives. The yard disclosed a contract worth KRW 750.5bn ($505.6m) for two LNG carriers, putting the price at about $252m per vessel. Delivery is scheduled by the end of June 2029. While the shipbuilder did not name the buyer, shipbuilding and broking sources have linked the order to TMS Cardiff Gas, which has steadily built up a large forward orderbook spanning LNG carriers, very large gas carriers and ammonia-capable tonnage. The latest contract adds to four 174,000 cu m LNG carriers already under construction for the owner at Samsung Heavy Industri...