https://www.rivieramm.com/news-content-hub/news-content-hub/cido-shipping-signs-us250m-deal-for-two-vlacs-at-hyundai-82653

Cido Shipping, a prominent Hong Kong-based shipowner, has reportedly made its entry into the very large ammonia carrier (VLAC) market by signing a significant newbuilding contract with a South Korean shipyard. On October 15, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), part of the Hyundai Group, announced an order for two VLACs, valued at approximately US$249 million, placed by an undisclosed shipowner based in Oceania. However, market sources suggest that Cido Shipping is behind the deal.

The two VLACs are expected to be delivered in the second half of 2027. This move marks Cido Shipping’s first foray into the VLAC segment, expanding its diverse maritime portfolio, which currently includes tankers, bulk carriers, vehicle carriers, and LPG carriers. Cido is already associated with an orderbook of over 20 vessels, covering various types such as tankers, bulk carriers, and container ships.