New LPG carrier player emerges in Greece with fleet-expansion plans

Adenac Ship Management has launched operations in Greece, opening a new office in Kifissia, Attica, with Christos Triantafyllidis at the helm.

Mr Triantafyllidis led Arrow Shipbroking’s LPG desk in Greece from its inception in 2022 before stepping down. He previously spent over a decade with the Greek major StealthGas and brings more than 20 years of experience across the LPG and petrochemical sectors.

Adenac, which serves as the commercial arm of Netherlands-based Vitamodo Scheepsbeheer BV, has tasked Mr Triantafyllidis with expanding its LPG carrier business.

The group has recently divested older tonnage, selling vessels built in the 1990s, as it positions Adenac to focus on younger assets. Gas Zuma, a 1999-built vessel, has also been chartered out on a three-year contract, underscoring continued strength in LPG demand.

Adenac’s first acquisition, under Mr Triantafyllidis’ leadership, is a 2004-built semi-refrigerated vessel, fixed on a five-year employment, which has already joined the fleet. Further investments in younger assets are expected to follow.

“We are here for the long run, building the company through safe, well-structured moves and disciplined growth,” Adenac’s Greek office commercial director and general manager, Mr Triantafyllidis, told Riviera.

He added that the company aims to build a modern, scalable LPG platform through disciplined investment decisions and consistent execution. “As the LPG sector continues to evolve, Adenac’s measured expansion and focus on quality tonnage position it as an emerging and increasingly relevant player in the space,” he said.

Adenac also operates in the container vessel segment, with a single ship.

Notably, another Greek player has recently moved into the LPG carrier market. Riviera reported that the European Navigation Group, led by Captain Spyros Karnessis, has acquired 2003-built VLGC Lycaste Peace.