The well-known Greek shipowner Naftomar Shipping and Trading and the South Korean shipbuilding behemoth Hanwha Ocean have reached a significant agreement to build four substantial ammonia carriers (VLACs) for KRW 656.2 billion (about $498 million).

The ships, expected to be the biggest in the world, can each carry 93,000 cubic meters of ammonia.

Hanwha Ocean claims that the VLACs will be constructed at the Geoje shipyard and delivered to Naftomar in the first half of 2027.

Interestingly, these carriers can be converted to ammonia propulsion if that is the shipowner’s preference.

Incorporating Hanwha Ocean’s exclusive technologies into these carriers demonstrates the company’s dedication to environmentally conscious endeavours.

The Hanwha SmartShip Solution & Service and the shaft generator motor system will be installed on the vessels. These developments align with shipbuilders’ focus on creating alternative fuels, particularly ammonia.

This order is a noteworthy recognition of Hanwha Ocean’s expertise in the field, given that the shipbuilder had approvals in principle (AiPs) for an 86,000 cubic meter ammonia carrier from Bureau Veritas (BV) in September 2022 and Lloyd’s Register (LR) in October 2022,

Ammonia is considered an environmentally friendly fuel because it emits no carbon dioxide when burned.

It can also be used to transport hydrogen economically, which makes it an essential component of the maritime industry’s transition to sustainability.

This contract with Naftomar represents a calculated move to strengthen Hanwha Ocean’s position in the expanding market for sustainable maritime solutions, further solidifying the company’s leadership in developing environmentally friendly fuel carriers.