Ciner Shipping Places Strategic Six-Vessel Order at South Korean Shipyards
Following its entry into the LNG market, the company now steps into ammonia transportation; total orders placed in May exceed $1.2 billion
One of Türkiye’s leading maritime groups, Ciner Shipping, continues to accelerate its investments in the global shipping market. Having moved its operational headquarters to Athens last year, the company has drawn significant attention with the high-tonnage vessel orders it placed at South Korean shipyards in May, marking a strong entry into both the LNG and ammonia transportation sectors.
Earlier this month, Ciner Shipping ordered four VLGCs (Very Large Gas Carriers) from South Korean shipbuilding giant HD Hyundai. Now, the company has signed another major agreement for the construction of six Very Large Ammonia Carriers (VLACs). With these latest deals, the total value of the company’s 10-vessel order package placed in May has surpassed $1.2 billion.
Strategic entry into ammonia transportation
According to industry sources, Ciner Shipping signed a contract with HD Hyundai for the construction of six dual-fuel VLAC/LPG vessels. The newbuilding contract is reportedly valued at approximately $717 million, with deliveries scheduled to be completed by December 2029.
The vessels, designed with dual-fuel capability, are considered a strategic investment aimed at the rapidly emerging ammonia transportation market. Ammonia is increasingly viewed as one of the alternative fuels of the future as the maritime industry seeks to reduce carbon emissions and accelerate the green transition.
After LNG, focus shifts to green energy transportation
At the beginning of May, Ciner Shipping entered the LNG and LPG transportation segment with its order for four VLGCs from HD Hyundai. The contract, valued at approximately $500 million, was regarded as the company’s first major move into the gas carrier market.
With the additional VLAC order, the company has further strengthened its strategy to position itself not only in conventional shipping markets but also in next-generation energy transportation segments driven by the global energy transition.
China in March, South Korea in May
Ciner Shipping’s investment strategy is not limited to gas carriers. In March 2026, the company was also reported to have ordered six Ultramax bulk carriers from China’s New Dayang Shipbuilding.
Each vessel is said to be valued at approximately $34 million, with deliveries expected between the fourth quarter of 2028 and the third quarter of 2029.
Through consecutive orders placed in both Chinese and South Korean shipyards within a short period, Ciner Shipping has significantly accelerated its global fleet expansion strategy.
One of Türkiye’s largest fleets by tonnage
Ciner Shipping has long managed one of Türkiye’s largest fleets in terms of tonnage. The company currently operates a fleet consisting of 20 bulk carriers and four Suezmax crude oil tankers, with a total carrying capacity exceeding 2 million DWT.
Operations headquarters moved to Athens
In February 2025, the company relocated its ship management and operational activities to Athens. Ciner Shipping is currently led by Greek CEO Vassil Papakalodoukas.
With its latest investments, particularly in alternative energy transportation, Ciner Shipping is widely seen as aiming to strengthen its position as a major player in the global maritime industry.
