Hanwha Ocean Lands $500M Deal to Build Four Very Large Ammonia Carriers

Hanwha Ocean has secured an order worth approximately $500 million to construct four very large ammonia carriers (VLACs) for Greek shipping company Naftomar Shipping and Trading Co. Ltd. Inc (Naftomar). 

Each VLAC will be able to transport 93,000 cubic meters (cbm) of ammonia, a carbon-free fuel, making them the largest vessel of their class in the world, Hanwha Ocean. The vessels will be built at Hanwha’s Geoje shipyard and delivered to the shipowner starting in 2026.

The VLACs will be outfitted with Hanwha Ocean’s latest technologies, including its shaft generator motor system (SGM) and Hanwha SmartShip Solution & Service (HS4), the company’s proprietary smart ship platform. 

They’ll also be equipped with an ammonia dual-fuel (DF) engine that will allow the shipowner the option to convert the carriers to utilize ammonia propulsion in the future. To meet current and projected greenhouse gas emissions regulations, these newbuild vessels will also incorporate a highly eco-friendly design with enhanced efficiency, built under Naftomar’s stringent specification requirements, Hanwha Ocean said.

"Ammonia is considered an environmentally friendly fuel that does not emit any carbon dioxide during combustion, making it a promising candidate for decarbonizing the maritime shipping industry. Last year, Hanwha Ocean received approvals in principle (AiPs) for an 86,000-cbm ammonia carrier from France’s Bureau Veritas (BV) in September and the U.K.’s Lloyd’s Register (LR) in October, two recognized global classification societies in the maritime sector," Hanwha Ocean said.