Pan Ocean announced on the 13th that it has signed a new order contract for two eco-friendly very large crude carrier (VLCC) vessels with a dead weight tonnage of 300,000 DWT.
The contract signing ceremony was held the day before (12th), attended by An Joong-ho, president of Pan Ocean, and Park Seung-yong, president of HD Hyundai Heavy Industries, along with officials from both sides.
The new ships will be built at HD Hyundai Heavy Industries in Ulsan and are scheduled for delivery in the third quarter of 2027. The ordered vessels are large ships measuring 328 meters in length and 60 meters in width.
They are designed to meet the International Maritime Organization (IMO) energy efficiency design index phase 3, which is an enhanced greenhouse gas emission regulation.
In addition, the vessels are equipped with high pressure selective catalytic reduction technology, satisfying the highest standards of tier 3 in the emission control area (ECA) under the Marine Pollution Convention (MARPOL) for nitrogen oxide emissions.
In particular, they are designed to allow for the conversion to next-generation eco-friendly fuels such as liquefied natural gas (LNG) and ammonia fuels if necessary, enabling flexible responses to global environmental regulations and changes in energy demand.
A representative from Pan Ocean said, "This newbuilding order expands the VLCC fleet to a total of four vessels, achieving the securing of premium capacity and enhancing competitiveness, even in a limited market environment. We will continue to invest in eco-friendly infrastructure and actively respond to uncertainties and volatility in the shipping market through diversification of our business portfolio."