Greek shipowner TMS Cardiff Gas, under the leadership of George Economou, is reportedly linked to a new order for two dual-fuel Very Large Gas Carriers (VLGCs). The vessels are expected to be constructed at HD Hyundai Heavy Industries in South Korea, further expanding Economou's presence in the gas shipping market.
This development follows an announcement by HD Korea Shipbuilding & Offshore Engineering regarding a new contract. While the specific client was not named in the initial announcement, industry sources are connecting TMS Cardiff Gas to this particular order.
For freight forwarders and shippers, this potential order signifies a future increase in available capacity within the LPG shipping sector. The addition of dual-fuel VLGCs suggests a focus on more environmentally compliant vessels, which could influence routing and bunker surcharge considerations in the long term. Increased capacity might lead to more stable rates or even downward pressure if supply outpaces demand, although the lead time for newbuilds means any immediate impact on rates or capacity is unlikely.
