Seoul: HD Hyundai Heavy Industries Co., South Korea's leading shipbuilder, announced the completion of two ammonia-fueled vessels, marking a pioneering achievement in the global shipbuilding industry.

According to Yonhap News Agency, the two mid-sized, ammonia dual-fuel gas carriers are set for delivery by July to Belgium-based shipping company Exmar and its affiliate, Exmar LPG France. This development aligns with the growing interest in ammonia as a marine fuel, which is projected to comprise 8 percent of the market by 2030 and 46 percent by 2050, as outlined in the International Energy Agency's carbon neutrality road map.

HD Hyundai Heavy has already secured orders for eight ammonia-fueled vessels from Exmar and multinational commodity trading firm Trafigura. The company, known for delivering the world's first methanol-fueled petrochemical product carrier in 2016 and a methanol-fueled container carrier in 2023, is striving to reinforce its leadership in the eco-friendly shipbuilding sector.

HD Hyundai Heavy, along with Hyundai Samho Heavy Industries Co., operates as shipbuilding affiliates of HD Korea Shipbuilding and Offshore Engineering Co. (KSOE), which serves as the intermediate holding company of the South Korean shipbuilding group HD Hyundai Co.