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Hanwha Ocean wins $247 million deal for VLAC pair amid rising demand for ammonia carriers

Home Shipbuilding Hanwha Ocean wins $247 million deal for VLAC pair amid growing demand for ammonia carriers January 22, 2024, by Jasmina Ovcina Mandra South Korean shipbuilder Hanwha Ocean, formerly known as Daewoo Shipbuilding & Marine Engineering (DSME), secured its first order for 2024 with an agreement to build two 93,000 cbm ultra-large ammonia carriers

Hanwha Ocean wins $247 million deal for VLAC pair amid rising demand for ammonia carriers

Home Shipbuilding Hanwha Ocean wins $247 million deal for VLAC pair amid rising demand for ammonia carriers

January 22, 2024,
by

Jasmina Ovcina Mandra

South Korean shipbuilder Hanwha Ocean, previously referred to as Daewoo Shipbuilding & Marine Engineering (DSME), secured its first order for 2024 with an settlement to construct two 93,000 cbm ultra-large ammonia carriers geared up with eco-friendly know-how.

Picture credit score: Hanwha Ocean

The vessels, valued at roughly KRW 331.2 billion ($247 million), have been commissioned by an unnamed shipowner within the Oceania area, marking the seventh such order up to now two months.

The ordered ammonia carriers, able to transporting 93,000 cbm of ammonia, will incorporate Hanwha Ocean’s eco-friendly applied sciences, together with the Hanwha SmartShip Resolution & Service (HS4) good ship platform and the shaft generator motor (SGM). The development of those carriers will happen on the firm’s Geoje plant, with supply scheduled for the second half of 2027.

A spokesperson from Hanwha Ocean attributed the constant inflow of orders for eco-friendly carriers to market confidence within the firm’s know-how. He voiced Hanwha Ocean’s dedication to establishing a benchmark for superior eco-friendly shipbuilding know-how by ongoing technological developments.

Hanwha Ocean is actively pursuing the event of other fuels and eco-friendly applied sciences, aiming to progressively cut back greenhouse gasoline emissions and obtain the commercialization of carbon-free ships, exploring propulsion choices comparable to ammonia, direct hydrogen, and hydrogen gas cells.

South Korean shipbuilders have been experiencing a substantial pick-up in demand for VLACs over the latest interval. Earlier at the moment, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) revealed it had secured an order for the development of three very giant ammonia carriers.

As knowledgeable, the corporate will construct the three vessels for an unnamed transport firm from Central and South America.

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The corporate has secured orders for nearly 30 ships because the starting of the 12 months. The offers embrace 2 very giant ammonia carriers, 15 medium-sized PC ships, 8 very giant LPG carriers, and two LNG carriers.

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Samsung Heavy Industries (SHI) closed the 12 months with $240 million contract to assemble two very giant ammonia and liquefied petroleum gasoline (LPG) carriers for a transport firm based mostly in Oceania.

The deal was adopted by a contract for 2 LPG/ammonia carriers with undisclosed shipowners within the Oceania area introduced final week.

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Samsung stated that the 2 VLACs are scheduled for supply by the tip of November 2027.

The corporate behind the order is believed to be George Economou’s TMS Cardiff Fuel, which already has 4 eco-design VLACs on order on the yard, in accordance with the information from VesselsValue. The 88,000 cbm newbuilds are all slated for supply in 2027.

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