Design Development of 150K CBM Class Ultra Large Ammonia Carrier

June 05, 2025

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by WOO Jaeyoon (Mainichi Keizai) Hanwha Ocean has decided to focus its efforts on developing ultra-large ammonia carriers, which are environmentally friendly vessels. By taking the lead in future eco-friendly ship technology, the company plans to shake off China's pursuit and take the lead in the global market.

Hanwha Ocean announced on the 4th that it had signed three memorandums of understanding (MOUs) for environmentally friendly technology cooperation with Korea Register (KR), DNV and others at the international shipping exhibition Norsping 2025 held in Oslo, Norway on the 3rd (local time).

First, KR and the company will begin developing a super-large ammonia carrier with a capacity of 150,000 m3. The largest ammonia carriers currently in operation are 93,000 m3.

Ammonia is an environmentally friendly fuel that does not emit any carbon dioxide when burned, and is garnering attention as an important fuel for the carbon-free era. In particular, it can be converted into hydrogen through a simple process, and is currently considered the most economical means of transporting hydrogen.

In response to this, the company plans to take the lead in enlarging ammonia carriers in preparation for future increases in the volume of ammonia transported.

An MOU was also signed with Korea to improve the efficiency of LNG carriers. The key to this is technical cooperation for the design of the crew accommodation layout, which will move the crew accommodation area, which is usually located at the stern, to the bow.

If this becomes a reality, it is planned to increase the utilization of the space behind the ship and improve the efficiency and stability of berthing and loading operations by linking it with the forward mooring system (FWD Mooring), which is used to secure the ship at its berthing position.

We will cooperate with DNV on Mactiv fuel tank technology. Mactiv fuel tanks use manganese as a material, significantly reducing production costs compared to conventional nickel-based fuel tanks. We plan to develop technology to upwardly revise the vapor pressure limit of Mactiv fuel tanks, so that they can be optimized for a "cold ironing" environment that utilizes external power sources while the ship is anchored. If this is realized, it will lead to an increase in the storage time of residual gas in the fuel tank, and will contribute to the realization of carbon-neutral ships.

A Hanwha Ocean official said, "Hanwha Ocean is accelerating the commercialization of eco-friendly ship technologies through strategic collaborations with global ship classification companies and major partners. We will increase the reliability of our technology through various joint development projects and lead the international eco-friendly standards." READ MORE

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Mind Observation: 14 years of competition, how did China replace South Korea's dominant position in shipbuilding? (Mind Observatory)

Excerpt from Mind Observatory: In the century-long turmoil of the global shipbuilding industry, the change of dominance is always accompanied by the collision of technology, scale and national will. From Britain in the 19th century, to post-war Japan, to South Korea in the late 20th century, the crown of the shipbuilding industry has changed hands several times.

Today, the wheel of history is rolling forward. China has completely ended South Korea's 20-year dominance with a thunderous momentum. In 2024, China's shipbuilding industry will completely rewrite the global shipbuilding landscape with a 74.7% share of new ship orders.

This is not only a victory for the industry, but also a vivid portrayal of the rise of China's comprehensive national strength and the reshaping of the global trade pattern. What exactly has made China's shipbuilding industry grow from a marginal player to an unshakable global king? How did this 14-year game with South Korea evolve into a "crushing" trend for China?

The history of the global shipbuilding industry is a history of competition among major countries' industrial strength.

As a capital-intensive industry, shipbuilding is highly dependent on global trade and economic cycles. Every global economic recovery or surge in shipping demand (such as the tanker boom in the 1960s and the wave of globalization in the 2000s) provides opportunities for countries with lower costs to rise.

In the 1960s, Japan ended the century-long hegemony of Europe and the United States in shipbuilding with its efficient production and technological innovation, and its market share once reached 50%. In the 1980s, South Korea and China began to emerge, and the global shipbuilding industry entered the era of "Three Kingdoms" in East Asia. In 2000, South Korea officially surpassed Japan with a 40% market share and became the world's number one, while China at that time only accounted for 4% of the orders and was in a marginal position.

2010 was a critical year for China's shipbuilding industry. That year, China surpassed South Korea for the first time and ranked among the top in the world. However, the throne of "world's number one" was not stable. In the following decade, China and South Korea fought fiercely in terms of order volume, technology level and market share, with wins and losses alternating.

It was not until 2021 that China's shipbuilding industry began to really widen the gap with South Korea. According to data from China's Ministry of Industry and Information Technology (MIIT) and the China Association of the National Shipbuilding Industry (CANSI), in the first three quarters of 2024, China led the world in the three key indicators of shipbuilding - completion volume (55.1%), backlog of orders (61.4%) and new orders (74.7%), while South Korea accounted for only 25.6%, 24.1% and 17% respectively.

In terms of specific data, China's new orders reached 87.11 million deadweight tons (DWT), a year-on-year increase of 51.7%; the backlog of orders reached 208.72 million DWT, accounting for 61.4% of the world; the completion volume was 48.18 million DWT, accounting for 55.1% of the world. However, South Korea's new orders were only 10.98 million corrected gross tons (CGT), and its market share fell to 17%, a new low in 8 years.

As a weathervane for the future development of the shipbuilding industry, the volume of new orders is the focus of competition between China and South Korea. In the first three quarters of 2024, China topped the list for seven consecutive months, and South Korea led for only two months. In July, South Korea took 40% of the orders and briefly overtook; but in September, China returned strongly with a 90% market share, completely establishing its leading position. Behind this fierce "tug-of-war" is the comprehensive breakthrough of China's shipbuilding industry in scale, technology and industrial chain.

The secret of China's shipbuilding industry's rise

The counterattack of China's shipbuilding industry is due to the coordinated efforts of scale, technology and industrial chain, which have formed an unparalleled competitive advantage.

China has the world's largest shipbuilding capacity and received 71% of the world's orders (in CGT) in 2024, of which container ship orders accounted for 83%, dry bulk carriers 78%, and tankers and chemical tankers 76%. China State Shipbuilding Corporation (CSSC) has formed a closed-loop system from design, procurement to construction by integrating its shipyards, and its efficiency is far superior to that of South Korea's decentralized shipbuilding companies. CSSC's shipyards such as Hudong-Zhonghua and Waigaoqiao Shipbuilding not only dominate traditional ship types, but also gradually enter the high-end ship market. In 2024, CSSC announced the absorption of its subsidiary China Shipbuilding Industry Corporation to further optimize resource allocation and consolidate its global leading position.

Take Jingjiang, Jiangsu as an example. This county-level city has become a microcosm of China's shipbuilding industry. In 2022, Jingjiang's shipbuilding completion volume accounted for 9.3% of the world and 19.7% of the country, new orders accounted for 10.2% of the world and 18.5% of the country, and backlog orders accounted for 10.7% of the world and 21.8% of the country. Jingjiang's Yangtze River Shipbuilding and New Era Shipbuilding ranked first in the country in backlog orders and completions respectively. In 2023, they signed the first LNG carrier order for a Chinese private shipbuilding company, breaking South Korea's monopoly in the field of high-end ship types.

Jingjiang's success stems from its "misaligned competition" strategy: starting with small and medium-sized ships of 10,000 to 50,000 tons, and gradually expanding to giant ships of 400,000 tons, forming a large-scale and clustered industrial advantage.

In summary, the change of hegemony in the shipbuilding industry is of course inseparable from technological breakthroughs. It is an inevitable law that emerging countries gradually narrow the technological gap and eventually surpass others by introducing advanced technologies and combining them with local innovation.

As a strategic industry, the shipbuilding industry cannot do without strong government support. Japan's "Economic Revitalization Plan", South Korea's "Heavy Industrialization", and China's "Shipbuilding Industry Revitalization Plan" have all boosted the industry's take-off through subsidies, tax incentives, and state-owned enterprise integration. The state's will plays a key role in resource allocation and technological upgrading.

The competitiveness of the shipbuilding industry lies not only in the shipyard itself, but also in the complete industrial chain and economies of scale. China's complete steel, electronics, and machinery supply chains, as well as industrial clusters in places such as Jingjiang, Jiangsu, have significantly reduced costs and improved efficiency.

Technological breakthroughs: from “follower” to “leader”

In the past, South Korea occupied the technological high ground in the field of high-end ship types, especially in LNG carriers, and won 94% of the global orders in 2018-2019. However, China has rapidly narrowed the gap by introducing GTT technology and localizing it. In 2024, China's LNG carrier orders accounted for 48%, just one step away from South Korea's 50%.

China's breakthrough in the field of large cruise ships is also remarkable. The "Aida Modu", which will be delivered in 2024, is China's first independently developed large cruise ship, involving 25 million parts and technical complexity comparable to that of an aircraft carrier. The success of this cruise ship marks China's leap from "low-end manufacturing" to "high-end intelligent manufacturing".

Green shipbuilding is the "trump card" of China's shipbuilding industry. As the International Maritime Organization (IMO) proposed the goal of achieving net zero emissions in shipping by 2050, the proportion of green ship orders has soared from 8.2% in 2016 to 41% in 2024. China has taken over 70% of the world's green ship orders, covering LNG dual-fuel, methanol dual-fuel, ammonia fuel ships and battery hybrid ships, achieving full coverage of mainstream ship types and new fuels. In contrast, South Korea's orders are concentrated on LNG dual-fuel ships, with a single type.

China's technological breakthroughs are even more impressive: the world's first LNG-powered very large crude oil carrier (VLCC), the first largest dual-fuel powered car carrier, and the largest 700 TEU pure electric powered container ship are all from Chinese shipyards. They are the "Yuan Rui Yang" built by China Dalian Shipbuilding Industry (DSIC) and delivered in 2022; the "Höegh Aurora" built by China Merchants Heavy Industry Jiangsu Shipyard and delivered in 2024; and the "Lu Hua Shan" built by China Jiangnan Shipyard and delivered in 2024.

China has also made progress in the research and development of ammonia-powered ships. These achievements demonstrate China's leading position in green technology and lay the foundation for "overtaking on the curve" in other ship types. READ MORE