Thenamaris Moves Into Ammonia Shipping Segment

Why It Matters

Entering the VLAC ammonia segment positions Thenamaris at the forefront of the low‑carbon maritime transition, while giving Jiangnan Shipyard a high‑profile client in a fast‑growing market.

Key Takeaways

• Thenamaris orders two 90,000 cu m VLACs from Jiangnan Shipyard
• Deliveries slated for 2029, marking Thenamaris' first VLAC entry
• Ships feature low‑resistance hulls and LPG dual‑fuel engines
• Emissions cut ~20% CO₂ and ~99% SOx, meeting EEDI Phase III

Pulse Analysis

The ammonia shipping market is accelerating as regulators tighten emissions rules and shippers seek zero‑carbon fuels. Thenamaris’ decision to order two very large ammonia carriers underscores the strategic shift toward alternative fuels, especially in the bulk transport of ammonia destined for fertilizer production and energy storage. By committing to VLACs, the Greek owner taps into a niche that promises higher freight rates and longer voyages compared with traditional LPG or LNG vessels, aligning its growth trajectory with the broader decarbonisation agenda.

Technically, the newbuilds will combine a low‑resistance hull—tailored to the legacy Panamax size—with LPG dual‑fuel propulsion. This hybrid approach delivers a dual benefit: it maximizes cargo volume while slashing fuel consumption, and it satisfies the International Maritime Organization’s EEDI Phase III benchmarks. The projected 20% reduction in CO₂ and near‑total elimination of SOx not only lower operating costs through fuel efficiency but also mitigate the risk of future carbon taxes, making the ships financially resilient in a tightening regulatory environment.

For Thenamaris, the move diversifies a fleet already balanced between LPG and LNG, reducing reliance on any single fuel market. It also strengthens the company’s competitive stance against rivals expanding into ammonia logistics. Meanwhile, Jiangnan Shipyard gains a marquee client that validates its capability to deliver sophisticated, environmentally‑compliant vessels, potentially attracting further orders from global owners eyeing the emerging ammonia trade. This partnership exemplifies how shipbuilders and owners are co‑creating the next generation of greener maritime assets.