London-based Zodiac Maritime is making a major move into the gas carrier sector, ordering a series of very large ammonia carriers in South Korea as the company expands beyond its recent tanker and containership buying spree.
The Eyal Ofer-controlled diversified owner has contracted Hanwha Ocean for three firm VLACs, with options that could lift the programme to five ships.
Industry sources value the full package at close to $575m, while Hanwha disclosed a KRW507.4bn ($345m) contract covering the initial vessels. Deliveries are scheduled through January 2030.
The order marks Zodiac’s first major step into ammonia shipping, positioning the owner for expected long-term demand tied to low-carbon fuels and green energy supply chains. Hanwha said the latest deal lifts its ammonia carrier orders to 10 vessels year-to-date, underlining growing momentum in the segment.
The VLAC order is the latest addition to Zodiac’s broad fleet renewal programme, which has accelerated sharply over the past year across multiple sectors. Late last year, the owner unveiled one of the industry’s largest tanker investments, booking a series of conventionally fuelled VLCCs at China’s Jiangsu New Hantong Ship Heavy Industry as part of a wider expansion plan. The package also included up to six 9,000 teu containerships.
Zodiac followed that up with another crude carrier order, adding suezmaxes at Samsung Heavy Industries.
The company has also been an active customer at Hanwha in recent years. Between 2021 and 2022, Zodiac ordered a series of 15,000 teu containerships at the South Korean builder, many of which were later taken over by Swiss-based liner giant MSC.
Zodiac’s latest investment comes as interest in ammonia and gas shipping gathers pace across Asia and the Middle East.
In related moves, Dubai-based Emarat Maritime has emerged as the owner behind recent VLAC orders at China’s Hengli Shipbuilding. The Sharaf Group-backed company had previously booked six aframax/LR2 tankers at the same yard last year.
Elsewhere, South Korea’s KSS Line this week ordered three 90,000 cu m VLGCs through HD Korea Shipbuilding & Offshore Engineering, with construction to be handled by HD Hyundai Heavy Industries. The vessels are due for delivery from early 2029.
Source: Splash 257.com
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