Hanwha Ocean bags $498 million order for world’s largest ammonia carriers

South Korean shipbuilding major Hanwha Ocean has secured an order worth KRW 656.2 billion (around $498 million) to construct four very large ammonia carriers (VLACs) for Greek shipowner Naftomar Shipping and Trading.

According to Hanwha Ocean, each VLAC will be able to transport 93,000 cubic meters of ammonia which makes them the largest of its kind in the world so far.

The shipbuilder said the vessels will be built at the Geoje shipyard and will be delivered to the shipowner by 2027.

Hanwha Ocean noted that, upon the shipowner’s request, the ships can be converted to ammonia propulsion in the future.

Additionally, the ammonia carriers will be equipped with Hanwha Ocean’s eco-friendly technologies, including the shaft generator motor system and Hanwha SmartShip Solution & Service.

According to an official from Hanwha Ocean, the order from Naftomar Shipping and Trading recognizes the shipbuilder’s focus on the development of alternative fuels such as ammonia.

In line with this, Hanwha Ocean received approvals in principle (AiPs) for an 86,000 cubic meter ammonia carrier from BV in September 2022 and from Lloyd’s Register LR in October 2022.