ISTANBUL — Ciner Shipping, the maritime arm of Turkish businessman Turgay Ciner’s Ciner Group, has placed orders for nine new vessels worth more than $1 billion over the past seven months, marking one of the largest fleet expansion programs undertaken by a Turkish shipping company in recent years.
The latest investment includes an order for three Very Large Ammonia Carriers (VLACs) from South Korea’s HD Hyundai Samho shipyard. The vessels are designed to transport ammonia, a fuel widely expected to play a key role in the shipping industry’s decarbonization efforts. The newest deal follows earlier contracts signed this year for six additional ammonia carriers, bringing the company’s total VLAC orderbook to nine vessels.
Industry sources estimate the combined value of the nine-vessel order exceeds $1 billion, underscoring Ciner Shipping’s strategic shift toward alternative-energy cargo transportation and its long-term confidence in the emerging ammonia market.
The expansion forms part of a broader fleet renewal strategy pursued by Ciner Shipping, which has accelerated newbuilding investments since relocating its operational headquarters to Athens. In addition to gas carrier investments, the company has also expanded its dry bulk fleet through recent vessel orders placed at Chinese shipyards.
By investing heavily in next-generation gas carriers, Ciner Shipping aims to strengthen its position in the global maritime industry while capitalizing on the expected growth in demand for low-carbon fuel transportation as the energy transition gathers pace.
Source: Patronlar Dünyası/ Prepared by : İlayda Gök