HD Hyundai Heavy Industries, Orders 4 Next-Generation Ammonia Carriers

Contract Signed for Construction Worth a Total of 616.8 Billion KRW

HD Korea Shipbuilding & Offshore Engineering has successfully secured an order worth a total of 616.8 billion KRW for next-generation eco-friendly vessels, specifically ultra-large ammonia carriers.

HD Korea Shipbuilding & Offshore Engineering announced on the 7th that it signed a construction contract for four 88,000㎥ ammonia carriers (VLAC) with Singapore's EPS, and Greece's Capital at the 'Gastech 2023' event held in Singapore.

Perspective view of HD Hyundai Heavy Industries' ultra-large ammonia carrier

These vessels will be built at HD Hyundai Heavy Industries in Ulsan and are scheduled to be delivered sequentially to the two shipowners by the second half of 2027. Compared to existing ultra-large gas carriers, the ordered vessels have significantly increased ammonia cargo capacity from 86% to 98% of the tank volume. This is the world's first for an Old Panamax-class vessel.

Additionally, although these are LPG dual-fuel propulsion vessels, once ammonia propulsion engines are developed, a conversion to ammonia propulsion will be considered in consultation with the shipowners. If the specifications change, these vessels will become the world's first ammonia-propelled and ammonia-carrier ships. Currently, HD Hyundai Heavy Industries is collaborating with companies possessing core large engine technologies such as MAN ES and WinGD to develop large ammonia engines targeting 2024.

Notably, the contract includes options for two additional vessels, raising expectations for further orders.

According to Clarkson Research, a UK-based shipbuilding and shipping market analysis firm, HD Korea Shipbuilding & Offshore Engineering has secured 19 out of 27 ultra-large LPG and ammonia carriers ordered this year, accounting for over 70% of the total.

HD Hyundai Heavy Industries also signed a Memorandum of Understanding (MOU) with EPS, the American Bureau of Shipping (ABS), Germany's MAN Energy Solutions (MAN ES), and the Maritime and Port Authority of Singapore for the development of ammonia dual-fuel propulsion carriers.

An official from HD Korea Shipbuilding & Offshore Engineering stated, "Based on our extensive experience in gas carrier construction and advanced technology, we have succeeded in securing orders for ammonia carriers, which are considered next-generation eco-friendly vessels. Through proactive technology development efforts, we will lead the next-generation eco-friendly ship market."

On the 5th (local time), Jung Ki-sun, President of HD Hyundai, is touring the booth at the 'Gastech 2023' event held in Singapore.

This content was produced with the assistance of AI translation services.