Maersk Tankers has added two very large ammonia carrier newbuildings to bring its VLAC fleet up to 10 ships.
It has declared a final two optional berths in what stacks up at a $1.1bn total haul.
HD Korea Shipbuilding & Offshore Engineering Co announced it had signed a contract to build two VLACs with a shipping company based in Europe, without naming the contracting party.
Maersk Tankers chief investment officer Claus Gronborg confirmed to TradeWinds that the company has lifted the options for the last two of the 10 VLACs it had initially pencilled in with the shipbuilder.
He said the company has no remaining options for other VLACs.
HD KSOE, which is the shipyard holding company for the Hyundai yards, gave a contract value of KRW 328.6bn (238.2m) on the two VLACs, which prices them at just over $119m each.
It said these two vessels will be built by HD Hyundai Samho Heavy Industries and are scheduled to be delivered by September 2028.
Maersk Tankers dived into the rapidly emerging VLAC sector in December last year, lining up a 10-ship order and inking contracts on a first tranche of four 93,000-cbm ships at the Mokpo-based yard.
Clarksons’ Shipping Intelligence Network prices these initial four vessels at $108.2m each.
In April, Maersk Tankers confirmed it had upped the order haul to eight ships by confirming four optional slots.
The shipyard announcement at the time on the quartet priced these vessels at $116.9m, suggesting prices have risen for the final pair of VLACs.
But the level is still lower than some recent orders in the sector, which have seen similar ships booked at over $120m each.
Maersk Tankers has said it plans to operate the VLACs on delivery but added previously that a decision to install ammonia-capable engines “requires both regulatory and customer support”.
VLAC ordering gained traction last year as interest in the optionality brought by this new breed of vessel — essentially a VLGC designed to carry a full cargo of ammonia — could bring to owners and charterers for the added investment of around $1m to $2m.
According to SIN, the orderbook for VLAC newbuildings stands at 47 vessels for delivery dates from 2026 through into 2028.
HD KSOE said that so far this year it has received orders for a total of 118 ships, including one offshore unit, worth $12.6bn.
The company said this stacks up at 93.2% of its provisional annual order target of $13.5bn.
By ship type, HD KSOE has received orders for eight LNG carriers, 52 product carriers, 38 LPG and ammonia carriers, a single ethane vessel, two liquefied CO2 carriers, six VLCCs, three tankers, two pure car/ truck carriers, one floating storage and regasification unit, a lone offshore structure and four naval ships.
