Greek shipowners start investing in large new ships to transport ammonia

Greek shipowners are investing in one of the most promising future markets for green fuel

The use of ammonia as an alternative fuel to reduce gas emissions on ships is constantly gaining ground in the shipping market, while at the same time Greek shipowners have already started investing in large new ships to transport this type of fuel, Naftemporiki reports.

Using ammonia as a marine fuel can reduce gas emissions on ships by up to 61%, depending on the maritime technology used by each type of ship.

Orders
Greek shipowners are investing in one of the most promising future markets for green fuel. More specifically, Evalend Shipping has reportedly ordered two Very Large Ammonia Carriers (VLAC) to be delivered in 2027, for a total of 242 million US dollars. Other Greek shipowners have already entered this new market.

Recently, Dorian LPG confirmed that it has signed an agreement to build a VLAC with delivery in the third quarter of 2026.

TMS has also opened in this market with four vessels with a capacity of 88,000 cbm. The latest order is for two VLACs, with a total value of 237 million US dollars.

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

Shipping market executives estimate that this period of investment in ammonia carriers is reminiscent of the late 90s and early 2000s, when Greek shipowners were among the first in the world to invest in liquefied natural gas carriers.