Greek Shipping Empire, Capital Maritime, expands into world of CO2 shipping, after £109m investment

 Evangelos Marinakis' shipping firm, Capital Maritime & Trading Corp. has added the world's largest CO2 carrying ship to his companies impressive roster, as he expands further into the shipping industry. 

As recently revealed, the Greek shipping company has signed a contract worth  $141.1m for not just one, but two of the world's largest Carbon Dioxide carrying ships, of which can carry roughly 22,000 Cubic Metres of Liquified Carbon Dioxide (LC02). The ships are produced by South Korean firm, HD Korea Shipbuilding & Marine Engineering, a subsidiary of petroleum, heavy machinery & Ship building firm, HD Hyundai, which alone has a market cap of over £28bn. Vessel Builders, HD Korea Shipbuilding & Marine Engineering, signed the huge contract with Evangelos Marinakis' company in mid-July. As part of the deal, the City of Ulsan, South Korea, will host the production of the two largest CO carrying vessels, of which measure at 159.9m, and 27.4m in width. 

The ships were developed not only as a way to carry Liquified Carbon Dioxide, but also for substances such as Ammonia, or liquified gas. In line with current Climate Change concerns, the ships will feature ammonia dual-fuel-ready systems, a huge step towards carbon-neutrality in the Shipping industry. Current estimates say the ships are on track to be delivered in the second half of 2025. 

“We hope to lead the market for carbon dioxide carriers in partnership with HD Hyundai, which is technically the most prepared in the field of next-generation eco-friendly ships,” said a spokesperson for Capital Maritime & Trading Corp.

Mr Marinakis' business portfolio contains not only that of Capital Maritime & Trading Corp, it also features the ownership of Greek Super League side, Olympiacos - a team for which he supports, and has served as President of since mid-2010 - while also owning Premier League football club, Nottingham Forest, of whom he's overseen categoric change, most notably the return to the top flight of English Football. The Greek Businessman also runs Alter Ego, a Greek media channel, and acquired a stake in Mega TV. Furthermore, there is a potential acquisition of Monza, Italian Serie A football side, after the passing of Silvio Berlusconi, the club's former owner and Italian Prime-Minister, of whom had "great trust" in his friend, Evangelos Marinakis, who could soon become the new President of the club.

This story has relevance to Nottingham Forest however, as during February, a "mystery businessman" was spotted next to Forest's Owner. Much speculation ensued: potential sponsorhip? New investor? Who could it be, many asked. It was later revealed that the gentleman pictured next to Mr Marinakis was indeed South Korean ship-building magnate, Sam-Hyun Ka. Mr Sam-Hyun Ka is President of Hyundai Heavy Industries Co, another subsidiary of HD Hyundai - the company producing new ships for Capital Maritime & Trading Corp. Meetings at the City Ground where not simply to watch Premier League football, one can imagine, but also to discuss a major investment by Capital Maritme in one of Hyundai's products, which would see the Greek firm expand into a market that the Global CCS Institute believes will grow at 30% per year.

Business was certainly the most likely priority of such a meeting earlier this year, but not all that was spoken of - Mr Sam-Hyun Ka was formerly nicknamed "Mr Football" in South Korea, who once served as the country's FA General Secretary. 

With the deal now signed, the relationship between Capital Maritime & Hyundai HD is stronger - and the Greek Shipping Company is showcasing its ambitions in an ever-growing market.