Capital Gas Ship Management Corp. announces the order of world’s first two next-generation 88,000cbm eco-friendly very large ammonia newbuilding carriers.
Piraeus, Greece, September 7, 2023. Capital Gas Ship Management Corp. announces the order for the world's first two 88,000 CBM (㎥) very-large ammonia carriers (VLAC) with KSOE. The innovative vessels will be constructed at HD Hyundai Heavy Industries in Ulsan and are scheduled to be delivered by the second half of 2027.
These state-of the-art vessels distinguish themselves from conventional very-large gas carriers as they are designed with significantly increased ammonia loading capacity in the cargo tanks, allowing them to carry ammonia up to 98% of cargo tank capacity.
At the same time, this new investment marks another landmark for the Capital Group and its strategic commitment to build a trailblazing fleet that will play a leading role in the global decarbonization effort.
Laying the foundations for the "energy transition", Capital is currently implementing one of the largest and most diversified shipbuilding programs of 59 newbuildings with delivery dates extending from 2020 to 2027 including the order of the world's first two innovative liquefied CO2 (LCO2) 22,000cbm carriers expected to be delivered in 2025-2026.
The signing ceremony took place during the 'Gastech 2023' event held in Singapore, whereby KSOE signed contracts for the world's first four 88,000 CBM (㎥) VLACs with Capital Gas and Singapore's Eastern Pacific Pte Ltd (EPS). Furthermore, Capital Gas and EPS have agreed with Hyundai to explore the possibility for this series of vessels to be equipped with an ammonia dual-fuel propulsion system, which could reduce the vessels’ carbon footprint to zero.