Shipowner Ravi Mehrotra has returned to the newbuilding market after a 10-year absence, ordering four very large ammonia carriers (VLACs) as the opening move in his Foresight Group's planned $1.2bn fleet expansion. The order marks Mehrotra's first newbuilding commitment in a decade and is intended to launch a broader programme that aims to grow Foresight's fleet to 25 ships by 2034. The VLAC quartet signals the company's entry into the ammonia-carrying segment, a vessel class increasingly linked to the shipping industry's shift toward alternative fuels and cleaner cargo transport. Future phases of the expansion are expected to include additional gas carriers, building on Foresight's established presence in the VLGC (very large gas carrier) sector. Details on the shipyard contracted for the VLAC order, delivery schedules and financing arrangements were not disclosed. The move comes amid a wider wave of newbuilding activity across the shipping industry, with several owners recently placing large orders for tankers, container ships and gas carriers. Mehrotra's re-entry into the newbuilding market after a decade-long pause underscores renewed confidence in long-term demand for ammonia and gas transport capacity as global energy and shipping markets continue to evolve.
