Greek owner Benelux linked to order for two VLACs at Hyundai

HD Hyundai Heavy Industries announced on 11 December that it had secured a contract for two very large ammonia carriers (VLACs), valued at around US$240M. The vessels are scheduled for delivery by Q3 2028.

While the shipbuilding conglomerate did not disclose the buyer’s identity, it noted the company is based in Africa – a description often linked to Greek owners in similar announcements.

Shipbrokers have associated the order with the Angelou family led Benelux Overseas. The company declined to comment when approached by Riviera.

Benelux currently operates a fleet of five vessels: four LPG carriers (small to mid-size) and one chemical/oil product tanker, according to Equasis data. The company is also managing a newbuilding programme for three mid-size LPG carriers in China, with deliveries expected through the end of 2026.

The VLAC order would represent a first for the Greek company.

Founded in 1997 in Dubai, Benelux has grown steadily in the global gas carrier market, according to information on its website.

Interest in VLACs has eased in 2025, following recent years of growing newbuilding momentum. According to BRL, nine LPG/ammonia vessels have been ordered this year, with the current orderbook comprising 107 units.