China’s Shipyards Pass Fresh Milestone with Delivery of Vast Specialised Carrier

Why It Matters

The launch of the largest ammonia carrier underscores China’s rapid move into high‑value, low‑carbon shipping, supporting the emerging ammonia‑as‑fuel supply chain and reshaping the global shipbuilding hierarchy.

Key Takeaways

• Jiangnan delivered 93,000‑m³ Ivy Cove, world’s largest ammonia carrier.
• First of six VLACs ordered by Singapore’s Eastern Pacific Shipping.
• New contract adds two 90,000‑m³ ammonia carriers, delivery by 2028.
• Chinese shipyards now hold ~85% of global new vessel orders.
• Ammonia carriers enable low‑carbon hydrogen transport for energy transition.

Pulse Analysis

Ammonia is gaining traction as a zero‑carbon energy carrier because it can store hydrogen in a liquid form at relatively modest pressures and temperatures. Transporting the dense, corrosive fluid, however, demands robust containment systems, reinforced hull structures and advanced safety protocols. Ivy Cove, with a 93,000‑cubic‑metre cargo capacity, pushes those engineering limits, offering the industry a benchmark for future very large ammonia carriers (VLACs). Its delivery signals that shipbuilders have mastered the complex integration of cryogenic tanks, inert gas systems and corrosion‑resistant materials required for large‑scale ammonia logistics.

China’s shipyards have long dominated bulk carriers and container ships, but the recent surge into specialised gas carriers marks a strategic upgrade. In the first quarter of 2024, Chinese yards secured nearly 85 % of all new vessel orders worldwide, a share that now includes a growing slice of liquefied‑gas contracts traditionally held by South Korean firms. The Ivy Cove launch, alongside Hudong‑Zhonghua’s 271,000‑cubic‑metre LNG carrier under construction, illustrates how Chinese yards are leveraging scale, state support and a skilled workforce to capture high‑margin, technology‑intensive projects.

For ship owners like Eastern Pacific Shipping, securing a fleet of VLACs aligns with a broader shift toward low‑carbon maritime fuels. The initial six‑ship order, followed by a new two‑ship contract slated for delivery by 2028, provides EPS with a ready‑made pipeline for ammonia‑based bunkering services as global regulators tighten emissions standards. As demand for green hydrogen and ammonia expands—driven by Europe’s and Asia’s decarbonisation roadmaps—shipbuilders that can deliver reliable, large‑capacity carriers stand to capture significant market share and generate lucrative after‑sales support revenue.