Benelux Overseas is set to widen its footprint in gas shipping after brokers linked the Athens-based owner to a $240m order for two very large ammonia carriers (VLACs) at HD Hyundai Heavy Industries in South Korea.
HD Hyundai said last week it had secured a KRW354.2bn ($240m) contract to build two 93,000 cu m VLACs for an undisclosed African customer. Market sources, however, have pointed to Benelux Overseas, controlled by Kostas Angelou, as the owner behind the deal.
According to brokers, the vessels are scheduled for delivery across Q2–Q3 2028, marking Benelux Overseas’ entry into the ammonia carrier segment as the industry prepares for growing demand linked to energy transition projects.
The move comes as the Greek owner continues to build out its gas carrier portfolio. Benelux Overseas already has three mid-size LPG carriers on order at Chinese yards, due to join the fleet next year. In 2021, the company also placed an order for two 40,000 cu m LPG newbuildings at HD Hyundai Mipo Dockyard. If confirmed, the VLAC order would position the company for future ammonia trades while maintaining its exposure to LPG shipping.
