日本海事新聞ニュース Japan Maritime Daily Mar 13, 2026 (Fri)

Interview: Capital Clean Energy Carriers CEO Outlines Strategic Shift to LNG and Multi-Gas Vessels

(From the left) Mr. Kozuki and Mr. Kalogiratos

　In an interview with this newspaper, Gerasimos Kalogiratos, CEO (Chief Executive Officer) of Capita ・・・ 続きはログインして下さいnext %E3%80%80In+an+interview+with+this+newspaper%2C+Gerasimos+Kalogiratos%2C+CEO+%28Chief+Executive+Officer%29+of+%3Cb%3ECapital+Clean+Energy+Carriers%3C%2Fb%3E+%28CCEC%29%2C+a+Greek+shipping+company+listed+on+the+NASDAQ%2C+stated+that+the+company+plans+to+find+business+opportunities+in+the+gas+carrier+sector+related+to+the+energy+transition%2C+with+a+focus+on+its+LNG+%28liquefied+natural+gas%29+carrier+business.+We+asked+Mr.+Kalogiratos+about+his+management+policies+and+strengths.+%3Cbr%3E+%3Cbr%3E%E3%80%80-+Why+did+you+make+the+bold+decision+to+change+the+type+of+ships+you+own+from+container+ships+to+gas+carriers%3F+%3Cbr%3E%E3%80%80%E2%80%9CThe+idea+of+transforming+the+business+began+in+2021%2C+when+we+acquired+several+LNG+carriers%2C+among+other+assets.+In+2023%2C+we+raised+%24500+million+in+capital+and+used+the+funds+to+acquire+11+LNG+carriers+for+a+total+of+%243.1+billion%2C+making+a+major+shift+in+our+business.+At+the+same+time%2C+the+company+name+was+changed+from+Capital+Product+Partners+to+its+current+name.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9COur+aim+is+to+capture+demand+for+transporting+cargo+related+to+the+energy+transition%2C+while+focusing+on+LNG+carriers%2C+where+demand+is+expected+to+grow.+Specifically%2C+this+will+cover+LPG+%28liquefied+petroleum+gas%29+and+ammonia+%28including+low-carbon+ammonia%29%2C+and+in+the+future+we+will+also+meet+demand+for+transporting+liquefied+CO2+%28carbon+dioxide%29.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+have+also+placed+orders+for+six+40%2C000-45%2C000+cubic+meter+midsize+LPG+carriers+%28MGCs%29+and+four+22%2C000+cubic+meter+liquefied+CO2+%28LCO2%29+carriers+in+mid-2024.+At+the+same+time%2C+legacy+assets+were+disposed+of.+Since+the+beginning+of+2024%2C+we+have+sold+14+container+ships+for+a+total+of+%24815+million.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CDemand+for+LNG+carriers+has+been+boosted+by+the+emerging+risk+that+natural+gas+pipelines+could+be+disrupted+for+geopolitical+reasons+following+Russia%E2%80%99s+invasion+of+Ukraine.+European+companies+have+chartered+FSRUs+%28Floating+Storage+and+Regasification+Units%29+and+have+begun+importing+LNG+from+North+America%2C+the+Middle+East%2C+and+other+regions.+LNG+carriers+can+also+be+considered+floating+pipelines.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0Flexibility+is+a+strength+%3Cbr%3E%E3%80%80-What+are+your+strengths%3F+%3Cbr%3E%E3%80%80%E2%80%9COur+strengths+include+our+maritime+business+know-how+backed+by+our+tradition%2C+our+respect+for+seafarers%2C+our+safety+culture+and+operational+excellence%2C+our+team+autonomy+and+commercial+flexibility.+Our+majority+shareholder%2C+Evangelos+Marinakis%2C+who+heads+the+Capital+Maritime+Group%2C+is+one+of+the+most+successful+figures+in+the+shipping+industry+over+the+past+30+years.+His+leadership+and+vision+is+crucial+as+our+company+continues+to+grow.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CIt+is+essential+to+not+only+understand+ships+and+the+maritime+business%2C+but+also+to+have+a+deep+understanding+of+the+people+who+work+on+board.+The+management+team+values+an+environment+where+opinions+can+be+freely+and+openly+exchanged%2C+regardless+of+position+or+seniority.+The+entrepreneurial+spirit+that+is+deeply+rooted+in+our+company+is+also+the+source+of+our+adaptability%2C+allowing+us+to+flexibly+respond+to+a+rapidly+changing+business+environment.+We+are+also+proud+that+we+have+not+had+any+serious+maritime+accidents+for+many+years.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Deepening+relations+with+Japan+%3Cbr%3E%E3%80%80--You+ordered+three+LNG+carriers+in+December+last+year.+I%E2%80%99d+like+to+ask+about+your+investment+strategy.+%3Cbr%3E%E3%80%80%E2%80%9CThe+three+new+LNG+carriers+will+be+completed+at+a+Korean+shipyard+in+2028-2029.+The+investment+decision+was+made+after+comprehensively+considering+factors+such+as+ship+price%2C+ship+specifications%2C+shipping+market%2C+financial+strength%2C+and+market+opportunities.+We+have+secured+liquidity+through+the+sale+of+our+container+ships%2C+and+now+have+a+strong+financial+base+that+allows+us+to+order+new+ships+without+raising+funds.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CFIDs+%28final+investment+decisions%29+have+been+made+for+natural+gas+liquefaction+projects+totaling+more+than+70+million+tons+in+2025.+These+are+expected+to+launch+from+2028+onwards%2C+creating+demand+for+tonnage%2C+so+we+have+decided+that+now+is+the+right+time+to+invest+in+ships.+Our+LNG+carrier+fleet+now+consists+of+19+vessels%2C+with+10+already+in+service+and+9+still+on+order.+Of+the+remaining+orders%2C+we+have+secured+long-term+charter+contracts+for+three+ships%2C+and+the+remaining+six+will+be+chartered+at+the+appropriate+time.%E2%80%9C+%3Cbr%3E%E3%80%80-Please+tell+us+about+your+business+with+Japanese+companies.+%3Cbr%3E%E3%80%80%E2%80%9CWe+have+signed+long-term+charter+contracts+for+two+LNG+carriers+with+a+major+Japanese+utility+company+%28electricity+and+gas+company%29%2C+and+we+have+also+signed+a+sale+and+leaseback+%28S%26LB%2C+re-chartering+after+sale%29+contract+for+an+LNG+carrier+with+a+Japanese+shipowner.+We+also+utilize+JOLCO+%28Japanese+Operating+Lease+with+Call+Option%29.+There+is+also+a+loan+facility+in+which+Japanese+banks+are+participating.+The+success+of+our+Japan-related+business+is+largely+due+to+the+presence+of+Atsunori+Kozuki%2C+a+board+member+of+our+company+who+also+serves+as+the+Asia-Pacific+managing+director+of+Capital+Maritime+%26+Trading%2C+and+who+has+extensive+experience+in+LNG+business+development.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+have+built+excellent+relationships+and+have+ongoing+dialogue+with+major+Japanese+shipyards.+Recently%2C+as+part+of+the+Capital+Maritime+Group%2C+we+have+built+a+VLCC+%28Very+Large+Crude+Carrier%29+and+an+1%2C800+TEU+container+ship+in+Japan.+The+entire+group+will+continue+to+pursue+opportunities+to+order+new+ships+from+Japanese+shipyards.%E2%80%9C+%3Cbr%3E%E3%80%80-What+do+you+think+of+the+LNG+%28liquefied+natural+gas%29+carrier+market%3F+%3Cbr%3E%E3%80%80%E2%80%9CThe+current+weak+charter+market+%28this+interview+was+conducted+in+January%29+is+due+to+the+fact+that+many+new+ships+have+been+completed+ahead+of+the+start+of+LNG+project+operations.+Once+the+projects+are+operational+and+surplus+ships+are+absorbed%2C+supply+and+demand+will+be+balanced.+LNG+projects+are+being+planned+in+the+United+States%2C+Qatar%2C+Africa+and+elsewhere.+If+the+supply+of+LNG+increases%2C+prices+will+fall%2C+which+will+encourage+a+shift+from+coal+and+other+fuels+to+natural+gas.+Demand+growth+is+expected+to+be+centered+in+Asia%2C+so+ton-miles+%28transported+weight+distances%29+will+also+increase.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+withdrawal+of+older+LNG+carriers+that+use+steam+turbines+in+their+propulsion+systems+from+the+market+could+also+be+a+factor+in+tightening+the+supply+and+demand+for+tonnage.+Between+one-third+and+one-quarter+of+LNG+carriers+are+steam+turbine+carriers.+The+transportation+costs+of+steam+turbine+carriers+are+significantly+more+than+that+of+modern+two-stroke+ships.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CLet%E2%80%99s+say+you+were+to+transport+LNG+from+the+United+States+to+Japan%2C+and+you+would+pay+a+daily+charter+rate+of+%2470%2C000+for+a+two-stroke+vessel.+In+this+situation%2C+even+if+the+charter+rate+for+a+steam+turbine+vessel+were+zero%2C+the+economic+efficiency+of+transportation+would+still+be+inferior+to+that+of+a+two-stroke+vessel.+This+is+because+there+is+a+big+difference+in+fuel+efficiency%2C+etc.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CLast+year%2C+when+the+spot+charter+market+was+sluggish%2C+15+aging+steam+turbine-equipped+ships+were+scrapped.+This+was+the+largest+number+of+LNG+carriers+ever+scrapped.+This+trend+is+expected+to+continue+in+the+future.+If+steam+turbine+ships+are+replaced+by+two-stroke+ships%2C+it+will+be+easier+to+balance+supply+and+demand+for+ships.%E2%80%9C+%3Cbr%3E%E3%80%80+%3Cbr%3E%E3%80%80%E2%96%A0World%E2%80%99s+first+commercial+low-pressure+LCO2+carrier+%3Cbr%3E%E3%80%80--In+January%2C+you+completed+construction+of+the+world%E2%80%99s+first+commercial+low-pressure+LCO2+%28liquefied+carbon+dioxide%29+carrier.+%3Cbr%3E%E3%80%80%E2%80%9CCCS+%28Carbon+dioxide+Capture+and+Storage%29+will+be+one+of+the+solutions+to+the+climate+change+problem.+According+to+a+forecast+by+the+International+Energy+Agency+%28IEA%29%2C+CO2+capture+capacity+is+expected+to+increase+to+approximately+430+million+tons+per+year+and+storage+capacity+to+approximately+700+million+tons+per+year+by+2030.+Accordingly%2C+it+is+estimated+that+several+dozen+LCO2+carriers+will+be+needed+over+the+next+four+to+five+years.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+have+ordered+four+22%2C000+cubic+meter+LPG+%28liquefied+petroleum+gas%29+and+ammonia+carriers%2C+as+well+as+multi-gas+vessels+with+the+capacity+to+transport+LCO2.+The+aim+is+to+secure+base+revenue+from+LPG+and+ammonia+transport+while+gaining+first-mover+advantage+when+LCO2+trading+takes+off.+It%E2%80%99s+important+to+have+options+to+deal+with+multiple+trade+opportunities.%E2%80%9C+%3Cbr%3E%E3%80%80--The+International+Maritime+Organization+%28IMO%29+has+postponed+the+adoption+of+the+Net+Zero+Framework+%28NZF%29+by+one+year.+How+do+you+evaluate+it%3F+%3Cbr%3E%E3%80%80%E2%80%9CFundamentally%2C+I+think+it+is+important+to+establish+uniform+global+rules+regarding+safety+and+the+environment.+I+think+that+measures+such+as+the+introduction+of+double-hulled+tankers%2C+the+mandatory+installation+of+Ballast+Water+Management+Systems+to+prevent+the+cross-border+movement+of+aquatic+organisms%2C+and+international+rules+on+switching+to+Very+Low+Sulphur+Fuel+Oil+have+worked+well+so+far.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CHowever%2C+there+were+several+problems+with+the+NZF+proposal.+Specifically%2C+there+was+too+much+focus+on+alternative+fuels+with+underdeveloped+supply+infrastructure+and+unknown+prices%3B+LNG+fuel%2C+which+is+a+realistic+solution+during+the+transition+period%2C+was+disadvantaged+at+an+early+stage%3B+and+there+was+the+issue+of+who+would+manage+compliance+costs.+I+think+the+fact+that+postponing+the+adoption+has+created+room+to+revise+important+points+is+a+step+in+the+right+direction.%E2%80%9C+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%81%AE%E3%81%A8%E3%81%97%E3%81%BE%E3%81%99%E3%80%82%3Cbr%3E

【Global Lens】【インタビュー　ギリシャ船社の経営戦略】(4)キャピタル・クリーンエナジー・キャリアーズCEO　ゲラシモス・カロギラトス氏、LNG船軸にガス船商機

2026/03/13(金)

日本海事新聞 JMD

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