Eastern Pacific Shipping took delivery of the first of up to ten Very Large Ammonia Carriers (VLACs) from Jiangnan Shipyard in June 2026, the clearest signal yet that the shipping industry is betting on ammonia as both a marine fuel and a hydrogen carrier. These are the top 10 ammonia shipping companies driving that build-out, ranked by fleet scale and order commitments.
How We Ranked the Top 10 Ammonia Shipping Companies
Ranking is based on confirmed VLAC and dual-fuel ammonia vessel orders, shipyard contracts, and operational milestones reported through June 2026. Companies with active newbuild programmes and named delivery windows rank above those with announced intent only.
1. Maersk Tankers — Denmark
Maersk Tankers has ordered up to 10 VLACs from Hyundai Samho Heavy Industries, positioning itself as a lead mover in clean ammonia transport. The order is a joint design effort with Mitsui & Co., targeting vessels built specifically for zero-carbon fuel transition rather than retrofitted tonnage. Delivery is scheduled across 2026 to 2028, giving Maersk Tankers the largest single VLAC commitment among the top 10 ammonia shipping companies tracked here.
2. Eastern Pacific Shipping — Singapore
EPS took delivery of the first in a series of 8 to 10 VLACs from China’s Jiangnan Shipyard in June 2026, ahead of most competitors still at the order-book stage. The fleet mixes dedicated ammonia carriers with dual-fuel bulkers, supporting EPS’s stated goal of fast-tracking maritime decarbonisation across multiple vessel classes rather than a single ship type.
3. Nippon Yusen Kaisha (NYK) — Japan
NYK built the world’s first ammonia-fuelled tugboat, Sakigake, which entered Tokyo Bay operations in August 2024 alongside IHI Power Systems and ClassNK. The company is now building the world’s first ammonia-fuelled medium gas carrier, due for completion in November 2026, and has committed to deploying 15 ammonia-fuelled vessels by 2033.
4. Mitsui O.S.K. Lines (MOL) — Japan
MOL, working with the Global Centre for Maritime Decarbonisation and Yara International, completed the world’s first ammonia ship-to-ship transfer simulation at anchorage in the Australian port of Dampier — two 4,000 cbm transfers between gas carriers to test bunkering safety. MOL has also secured approval in principle from ClassNK for a 210,000-DWT ammonia-powered bulk carrier.
5. Yara Clean Ammonia — Norway
Yara Clean Ammonia runs the largest integrated global ammonia logistics network, with 15 specialised gas ships and access to 18 ammonia terminals worldwide. Its position on this list rests on infrastructure as much as fleet — Yara anchors the receiving and bunkering side that vessel operators like MOL rely on for STS transfer testing.
6. EXMAR — Belgium
EXMAR has introduced what it describes as the world’s first commercial ocean-going ammonia dual-fuel gas carriers, drawing on decades of liquefied gas transport experience. The company has prioritised seafarer input in refining engineering and safety protocols for handling ammonia, a fuel with significantly higher toxicity risk than LNG.
7. Naftomar Shipping and Trading — Greece
Naftomar placed a $498 million order with Hanwha Ocean for four 93,000 cbm VLACs, among the largest specialised ammonia transport capacities on order anywhere. Delivery is scheduled across 2026 and 2027, putting Naftomar’s order value ahead of most rivals on this list despite a smaller overall fleet.
8. CMB.TECH / Bocimar — Belgium
CMB.TECH has chartered up to 12 ammonia-capable Newcastlemax bulk carriers to Fortescue under a milestone agreement signed in June 2026. Its 210,000 DWT vessel Mineral Latvija has already entered blue-water operation, giving CMB.TECH one of the few live, in-service ammonia-capable hulls rather than an order-book commitment.
9. Trafigura — Singapore/Switzerland
Trafigura ordered four Medium Gas Carriers from HD Hyundai Mipo Dockyard with dual-fuel optionality between LPG and ammonia, starting delivery in 2027. The flexibility built into these contracts lets Trafigura hedge against shifting carbon tax regulation rather than committing to ammonia exclusively.
10. Capital Maritime & Trading — Greece
Capital Maritime, owned by Evangelos Marinakis, has secured slots in the global VLAC order book as part of a broader fleet modernisation strategy. The company treats clean-gas transport as foundational to its commercial freight expansion rather than a side bet, though its order specifics remain less publicly detailed than Maersk Tankers or Naftomar.
| Company | Fleet Strategy | Shipyard | Delivery Window |
|---|---|---|---|
| Maersk Tankers | Up to 10 VLACs | Hyundai Samho (South Korea) | 2026–2028 |
| Eastern Pacific Shipping | 8–10 VLACs and bulkers | Jiangnan Shipyard (China) | Started June 2026 |
| Naftomar | 4 VLACs, $498m order | Hanwha Ocean (South Korea) | 2026–2027 |
| Trafigura | 4 dual-fuel MGCs | HD Hyundai Mipo Dockyard | From 2027 |
The Future of Ammonia Shipping: What to Watch in 2026
Vessel orders are running ahead of bunkering infrastructure — most ports lack approved ammonia refuelling capability, which is why MOL’s Dampier STS simulation and Yara’s 18-terminal network matter as much as hull numbers. Expect order-book growth to slow unless port-side ammonia storage terminal capacity keeps pace through the rest of 2026.
For the cargo side of this trade — as opposed to fuel use — Yara International’s ammonia production and storage network and trading houses like Trammo’s global ammonia logistics business remain the key counterparties these shipping companies are built to serve.
Outbound source: Reuters
Which company has the largest ammonia carrier order?
Maersk Tankers leads by vessel count with up to 10 VLACs ordered from Hyundai Samho Heavy Industries, though Naftomar’s $498 million Hanwha Ocean order represents the largest single contract value.
What criteria determines this ranking?
Ranking is based on confirmed VLAC and dual-fuel ammonia vessel orders, named shipyard contracts, and operational milestones such as completed transfers or deliveries — not announced intent alone.
Why does ammonia bunkering infrastructure matter for this sector?
Vessel orders depend on ports having approved ammonia refuelling capability; without matching storage terminal and bunkering buildout, fleet growth outpaces where these ships can actually refuel.
Is BHP an ammonia shipping company?
BHP is included for its ammonia-fuelled bulk carrier orders, but its primary business is iron ore freight — it backs the technology rather than operating a dedicated ammonia carrier fleet.
What changes these rankings in future?
New shipyard contracts, confirmed delivery dates, and the pace of port-side ammonia bunkering approval will shift this ranking as 2026 progresses.