Singapore-based owner Jaldhi Overseas has ventured into very large ammonia carrier segment with up to four newbuilds at Jiangnan Shipyard in China.

The shipping arm of India’s Bothra Group has contracted two firm 93，000 cum gas carriers and signed a letter of intent for two additional units with the yard， which recently firmed up a similar deal with AW Shipping， a joint venture of ADNOC Logistics & Services (ADNOC L&S) and China’s Wanhua Chemical Group.

While the ADNOC L&S venture is paying $125m per ship， with deliveries starting in 2026， no price tag or estimated delivery dates have been divulged for Jaldhi newbuilds.

Jaldhi was established in 2004 and in addition to VLACs， the company has ultramax bulk carriers， MR2 tankers and midsize gas carriers on order at Yangzi-Mitsui Shipbuilding (Yamic) a joint venture between China’s Yangzijiang Shipbuilding and Japan’s Mitsui E&S Shipbuilding.

Multiple owners have placed their bets on the VLAC newbuilds as global trade of low-carbon ammonia is expected to witness a significant surge in the coming years. However， some analysts have pointed to potential vessel oversupply fears due to insufficient ammonia volumes to transport in the mid-term and that these ships would initially trade in the LPG market.