Greek shipowner leans toward newbuildings as he sees opportunities in dry bulk, tankers and gas.

Greek shipowner John Angelicoussis (left) speaks with Poten & Partners chairman Michael Tusiani at the Marine Money Ship Finance Forum. Photo: Eric Martin

Greek shipowner John Angelicoussis says he wants more growth for his shipping empire, though it's already one of the largest in private hands.

And though he identified opportunities across the gas, dry-bulk and tanker sectors, the three vessel segments in which his Angelicoussis Shipping Group specialises, he says VLCCs are "my favourite area".

In an on-stage interview in New York with Poten & Partners chairman Michael Tusiani, he said the large tankers are the easiest ships to operate and to fix on charters.

He acknowledged that the VLCC sector's orderbook is large, though not as bad as he has seen in other sectors.

"One of the beauties of orderbooks is self corrections," he said, noting that shipowners may cancel or delay newbuildings.

And he said new routes for VLCCs (pictured) bring better tonne-miles.

On the sidelines of the Marine Money Ship Finance Forum, he told TradeWinds that his company wants to grow and "does not want to stay static".

The shipowner is interested in ordering ships if the right opportunity opens up.

Still, he sees opportunity in the LNG carrier business because they are part of a more environmentally friendly industry, have higher barriers to entry and attract higher-quality charterers.

"It is an area where, because of the price, it is difficult for too many people to break in," he said.

Bulkers are the engine

Angelicoussis also has hope for dry bulk. He said it will be the engine of the world economy as several governments, including the administration of US President-elect Donald Trump, pursue much needed infrastructure upgrades.

"If one believes the new president, he is going to be very friendly to the dry cargo vessels. He needs a lot of imports to correct infrastructure problems of this country," he said.

Angelicoussis says he favours capesize vessels, as part of his preference for bigger ships.

Newbuildings favoured

The shipowner also said he prefers growing through newbuildings because he can build ships to his company's more exacting technical standards.

"If you have good relationships with first class yards and then you have clout, you can always find ways to correct mistakes," he said.

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