Hanwha Ocean has secured an order worth $500 million (462 million) to construct four large ammonia carriers (VLACs) for Greek shipping company Naftomar Shipping.
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. 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.
Naftomar is a shipping company based in Athens, Greece that specialises in transporting liquid petroleum gas (LPG) and ammonia worldwide and is aspiring to be one of the leaders in energy transition and decarbonisation.
It has been aggressively expanding its gas carrier fleet and also believes in the potential of the future ammonia market, as evidenced by the company’s order of the most modern VLACs.
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 UK’s Lloyd’s Register (LR) in October, two recognized global classification societies in the maritime sector.