Cido Shipping has had a change of heart on its entry into the very large ammonia carriers (VLACs) segment, choosing instead to pivot back to a more conventional market.
The Hong Kong-based tonnage provider has reportedly converted its previous order at HD Hyundai Heavy Industries for a pair of 88,000 cu m VLACs into two 157,000 dwt suezmax tankers.
Originally placed in October 2024, the debut deal saw the owner of more than 70 ships paying around $126m per newbuild.
The suezmaxes, however, will cost about $86m apiece, with deliveries set for June and September of 2027.
The newbuilding switch takes Cido’s suezmax orderbook at HD Hyundai yards to six, with four ships contracted in July 2024 at a reported price of $91m each and deliveries in 2026 and 2027.
