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Angelicoussis shipping groups expands fleet with acquisition of Altera Shuttle tankers

2024-11-12

Greece's Angelicoussis shipping groups has announced the acquisition of UK-based Altera Shuttle Tanker Company (AST) in a major move for international shipping ltd. This strategic acquisition underscores Angelicoussis' commitment to expanding its already impressive fleet and solidifying its position as one of the largest private shipping groups in the world.

Founded by visionary shipping magnate George Angelicoussis, the Angelicoussis Shipping Group currently operates a fleet of 144 vessels, including tankers, bulk carriers and gas carriers. The group's most notable subsidiaries include MTM, MSS, Maran Gas, MARANUK and MARANASIA, each focusing on a different segment of the shipping industry. AST is a company specializing in shuttle tankers and the acquisition is expected to enhance the group's capabilities in oil and gas transportation, particularly in challenging offshore environments.

The addition of Altera shuttle tankers to Angelicoussis' product portfolio will not only improve operational efficiency, but also expand the group's market coverage. AST's fleet is known for its modern and technologically advanced vessels, fully in line with Angelicoussis' commitment to maintaining high standards of safety and environmental sustainability. The acquisition is expected to generate synergies that will benefit the company and its customers.

As the global shipping industry continues to evolve, Angelicoussis Shipping Group's approach to aggressive growth through strategic acquisitions makes it better positioned to meet the challenges and opportunities ahead. The addition of Altera Shuttle tankers demonstrates the group's ambition and resilience in a highly competitive market. With this acquisition, Angelicoussis will further consolidate its leadership position in the maritime sector and continue its tradition of excellence and innovation in the shipping sector.

Upon completion of the acquisition, Angelicoussis Shipping Group will become the No. 2 company in the global shuttle tanker segment after NYK, which has 28 vessels.

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