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TMS Cardiff Gas orders first LPG carriers

TMS Cardiff Gas orders first LPG carriers
TMS Cardiff Gas has entered the LPG market by ordering two 78,700-cbm LPG carriers from Hyundai Heavy Industries for $76m each, with options for two more.

The VLGCs are scheduled for delivery in the second and third quarters of 2017, when they will enter into timecharter contracts with Shell International Trading and Shipping.

“The vessels will be able to transit the new and old Panama Canal, providing for increased flexibility compared to the market’s current VLGC fleet and will be built to the highest industry specifications,” TMS Cardiff said in a statement today.

The Athens-based company, which is headed by George Economou’s son Christos, currently owns and manages five large LNG carriers.

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