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Greek shipowners investing in ammonia tankers

They have already "entered" this new market

Greek shipowners are investing in one of the most promising future markets for green fuels. More specifically, Greek shipowners are placing orders for large ships that will be able to carry ammonia.

These are the so-called Very Large Ammonia Carriers (VLAC), which function as VLGC carriers, but have the ability to transport ammonia as well. According to “Naftemporiki” sources, this period reminds of the late 90s and early 2000s when Greek shipowners were among the first in the world to invest in LNG carriers.

Evalend Shipping proceeded to such a move by ordering two VLACs to be delivered in 2027, for a total of 242 million US dollars.

It is pointed out that Evalend runs one of the largest shipbuilding projects of Greek interests, which exceeds 2.1 billion dollars.

The same company recently made another big opening in LNG carriers, having a total of four vessels on order for delivery in 2027 and 2028.

Other Greek shipowners have already “entered” this new market. Recently, Dorian LPG, confirmed that it has signed an agreement to build a VLAC for delivery in the third quarter of 2026.

“We have placed an order for the construction of a new VLGC/AC as we believe in the long-term fundamentals of the LPG market and the potential of ammonia transport,” the company said.

TMS has also made an opening in this particular market with four vessels with a capacity of 88,000 cbm. The latest order concerns two VLACs, with a total value of 237 million US dollars.

Alpha Gas has also ordered four VLACs for about 500 million US dollars.

A similar order was placed by Naftomar for the construction of four large ammonia carriers (VLAC), at the South Korean shipyard Hanwha Ocean. Each ship will be able to transport 93,000 cubic meters of ammonia.

Latsco, which has been in the ammonia market since the end of the 90s, has ordered four ships that can transport ammonia. This specific ship design has even received the Evkrantis Award for Contribution to Technological Innovation.

Capital Gas also ordered last September two very large new ammonia vessels (VLAC) of 88,000 cbm.