HD HHI to build two dual fuel-ready VLCCs for Pan Ocean

South Korean shipbuilding heavyweight HD Hyundai Heavy Industries (HD HHI), part of HD Hyundai Group, has been commissioned by compatriot maritime transportation player Pan Ocean for the construction of a pair of sustainable fuel-ready very large crude carriers (VLCCs).

According to Greek shipbroker Intermodal, the Seoul-headquartered shipping company has decided to add two more 300,000 dwt tankers to its roster, having signed a contract worth $127 million with HD HHI for these units.

As informed, the tankers are going to be able to run on liquefied natural gas (LNG) and ammonia, owing to which they are expected to accomplish ‘significant’ reductions in greenhouse gas (GHG) emissions. With ammonia, the units could achieve a GHG emission cut of up to 90%, while LNG has been found to slash up to 23% emissions, making the newly ordered vessels an ‘important’ part of Pan Ocean’s sustainability vision.

Per Intermodal, the VLCCs are due to be handed over sometime in 2028.

The next few years are going to be busy for HD Hyundai, as well as for its subsidiaries. The vessels booked at the yards this year so far cover a range of segments, from liquefied petroleum gas (LPG) tankers and very large ethane carriers (VLECs) to VLCCs and boxships.

In April this year, for instance, MISC Berhad (MISC), Malaysia’s energy-related maritime services provider, ordered two VLECs under a deal worth $312 million. The ethane carriers, featuring a 100,000 cbm capacity, are described as “the world’s largest” units of this type. As divulged, the vessels are scheduled for delivery in 2028.

In addition to this, in 2027, the shipbuilding player is anticipated to hand over at least four LPG tankers, two of which are to go to Japan’s maritime transportation major Mitsui O.S.K. Lines (MOL) and two will reportedly be added to the roster of Hong Kong’s Cido Shipping.

Among the units that HD Hyundai has turned over recently is the Kohzan Maru VII, an eco-friendly methanol carrier built by the corporation’s arm HD Hyundai Mipo (HMD) for MOL. The ship, delivered at the very end of May 2025, is set to go under a long-term charter to Mitsubishi Gas Chemical Company (MGC).