Hanwha Ocean wins $498M order for world's largest ammonia carriers

An ammonia carrier built by Hanwha Ocean [HANWHA OCEAN]

Korean shipbuilder Hanwha Ocean has bagged a 656.2 billion-won ($498 million) order for four very large ammonia carriers (VLAC) from a Greek shipper.

Each VLAC can carry 93,000-cubic meters (3.3 million cubic feet) of ammonia, which is the largest of its kind in the world so far, the shipbuilder said Tuesday.

The vessels will be constructed at Hanwha Ocean's shipyard in Geoje on the south coast and delivered to Naftomar Shipping and Trading by the first half of 2027.

At the shipper's request, it could be converted into a vessel powered by ammonia, an environmentally friendly fuel, it added.

In September and October last year, Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering (DSME), obtained an approval in principle for an 86,000-cubic-meter ammonia carrier from French certification body Bureau Veritas and Lloyd's Register of Britain.

With the latest deal, Hanwha Ocean said the shipbuilder has won global recognition for its green shipbuilding technologies, and that it will seek to take the lead in building eco-friendly and digitalized vessels.

In May this year, Hanwha Ocean set sail as the shipbuilding arm of Hanwha Group after obtaining regulatory approval for its purchase of a 49.3 percent stake in DSME and managerial control.

BY SEO JI-EUN, YONHAP [seo.jieun1@joongang.co.kr]