EMF and Atlas Maritime formalize $372M ammonia carrier trio order at HD KSOE

Denmark’s fund management company focused on maritime investments European Maritime Finance (EMF), in collaboration with international shipping company Atlas Maritime, has confirmed the order of three LPG/ammonia carriers at South Korean shipyard HD Hyundai Heavy Industries (HHI).

HD HHI’s parent company, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), revealed the order valued at KRW 489.6 billion ($372 million) in March 2024 without disclosing the shipowner’s name.

EMF and HD HHI have now confirmed the order for the three 88,000 cubic meter LPG dual-fuel carriers capable of carrying and running on ammonia.

As disclosed, the vessels will named EMF Viking I, II, and III.

The ships are scheduled for delivery by the end of December 2027.

“European Maritime Finance is proud of our commitment to deliver state-of-the-art vessels that meet the highest standards of sustainability and innovation, in collaboration with Atlas Maritime and HD Hyundai Heavy Industries (HHI), remaining dedicated to setting new sustainable benchmarks in the maritime industry,” said Martin Haugaard, Founder, Chief Executive Officer (Schweiz) AG and Chairman of the Investment Committee. 

As part of their partnership, EMF and Atlas Maritime placed an order for the construction of the seventh and eighth scrubber-fitted dual-fuel Suezmax tankers with DH Shipbuilding in Korea earlier this year.

The forthcoming Suezmax tankers will join the existing six vessels already in the production pipeline, bringing the total to eight sister vessels. The vessels will boast sustainability features such as dual-fuel capability, LNG readiness, and Eco-class designation, EMF and Atlas Maritime said.