The new year kicks off with a bang! Jiangnan Shipyard has secured an order from Eastern Pacific Shipping (EPS) for two 90,000 cubic meter Very Large Ammonia Carriers (VLACs) of the Old Panamax size, marking another collaboration that sets a new record in this specialized market segment. On January 5th, Jiangnan Shipyard and the renowned Singapore-based independent shipowner EPS formally signed a construction contract. Jiangnan will build two Old Panamax 90,000 m³ VLACs for EPS. This project is regarded as the first order signed by Jiangnan Shipyard for the "15th Five-Year Plan" period, achieving a strong start to the year.
The 90,000 m³ VLACs involved in this contract are of the Old Panamax dimensions, incorporating a new-generation low-resistance hull design while adhering to the transit limitations of the old Panama Canal. By optimizing the bow and stern profiles and the waterline distribution, the ship design achieves a comprehensive balance between maximizing cargo capacity and minimizing sailing resistance under "size-constrained" conditions, thereby significantly enhancing overall operational efficiency. The industry widely recognizes the value of the Old Panamax design: it balances accessibility to key shipping lanes while offering superior transport efficiency and flexibility under specific trade and port conditions. This renewed partnership between EPS and Jiangnan Shipyard to develop this VLAC type also signifies a further upgrade in the product capabilities of both parties within the specialized field of ammonia carriers.
A core highlight of this VLAC's power configuration is its LPG dual-fuel propulsion system. Compared to traditional fuel oil power, this system can significantly reduce CO₂ emissions by approximately 20% and slash SOx emissions by about 99%, while simultaneously meeting the International Maritime Organization (IMO)'s Energy Efficiency Design Index (EEDI) Phase III requirements. As IMO emission regulations continue to tighten and demand for alternative fuels and clean energy transport grows, dual-fuel solutions offering superior emission profiles and energy efficiency are becoming a key trend in the newbuilding market.
Headquartered in Singapore with about 60 years of shipping operation history, EPS is recognized as one of the world's largest independent shipowners. The company employs approximately 7,000 seafarers and shore-based staff and manages a fleet centered around four main vessel types: container ships, dry bulk carriers, liquefied gas carriers, and tankers, with a total deadweight tonnage of around 31 million tons, demonstrating strong asset operation and fleet configuration capabilities.
Notably, these two 90,000 m³ Old Panamax VLACs are not the first collaboration between the two parties. In 2023, EPS and Jiangnan Shipyard initiated their partnership with an order for six 93,000 m³ VLACs, which were the largest of their kind globally at the time. In 2024, EPS placed another order for six 150,000 m³ Ultra Large Ethane Carriers (ULECs), the largest such vessels in the world to date, once again setting an industry record. Now, at the beginning of 2026, the two have signed another contract for two vessels, focusing on the "world's largest cargo capacity Old Panamax VLAC" niche. The rhythm of orders and vessel type selection indicates that the cooperation between EPS and Jiangnan Shipyard is characterized by "continuous deepening and constant pushing of product boundaries," further highlighting Jiangnan's comprehensive capabilities in R&D, design, and construction within the very large gas carrier sector.
Jiangnan Shipyard stated that, as the company's first order for the "15th Five-Year Plan" period, it will adhere to an attitude of "self-reliance and excellence," continuing to meet the market competition and industrial upgrades of the new phase with high-quality vessels and a pragmatic spirit. Against the backdrop of rapidly growing demand for clean energy transport like ammonia and shipowners accelerating the renewal and expansion of their gas transport capabilities, the finalization of these two Old Panamax 90,000 m³ VLACs not only marks a strong start for Jiangnan Shipyard but also provides a more representative signal for the beginning of the 2026 very large gas carrier market.