Alpha Gas breaks Korea stranglehold with China VLGC order
Greek owner books two 88,000 cu m ammonia-capable VLGCs at Hengli Heavy Industries for 2029 delivery.
Greek shipping company Alpha Gas has expanded its fleet construction into China with an order for two very large gas carriers at Hengli Heavy Industries. The deal, finalized in September, marks the Athens-based firm’s first venture into Chinese shipbuilding after previously relying on South Korean yards.
The new vessels, each with a capacity of 88,000 cubic meters, are designed to transport both liquefied petroleum gas (LPG) and ammonia. They are scheduled for delivery in 2029, aligning with the company’s broader fleet expansion strategy.
Expanding fleet and shipbuilding partnerships: Alpha Gas
Alpha Gas entered the very large gas carrier (VLGC) segment in 2024, placing initial orders at South Korean shipyards Hanwha Ocean and HD Hyundai Heavy Industries. The company’s current operating fleet includes two VLGCs and eight LNG carriers, with additional vessels under construction. In January, Alpha Gas secured two more LNG carriers from Hanwha Ocean in a deal worth $503 million, also set for delivery in 2029.
Safe Bulkers
The latest order strengthens the Angelicoussis group’s relationship with Hengli Heavy Industries. Other subsidiaries, including Pantheon Tankers and Alpha Bulkers, have also placed orders at the Chinese yard. Pantheon Tankers has two 306,000-dwt very large crude carriers (VLCCs) under construction at Hengli, with deliveries expected in 2028, while Alpha Bulkers has commissioned capesize bulk carriers from the same builder.
A strategic bet on gas and ammonia transport
The decision to diversify shipbuilding partnerships reflects a growing trend among Greek owners, who are increasingly turning to Chinese yards for competitive pricing and capacity. Hengli Heavy Industries has emerged as a key player in the VLGC and very large ammonia carrier (VLAC) segments, attracting orders from major industry players.
For Alpha Gas, the move signals confidence in the long-term demand for gas and ammonia transport. The company’s fleet now includes 16 LNG and LPG carriers, with vessels built between 2015 and 2024. The latest additions will further position Alpha Gas to capitalize on evolving trade patterns and decarbonization trends in the maritime sector.
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