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Yara invests in ammonia vessels, seeks shipping management partners

11:04 AM MST | January 28, 2014 | Natasha Alperowicz

Yara International announced today that it has entered into shipbuilding contracts with Hyundai Mipo Dockyard for the construction and delivery of three 20,600–cubic meters, semirefrigerated liquefied petroleum gas carriers with an expected cost of $51 million/vessel. Yara had, until 2005, owned all such vessels but at that time decided to switch to long-term leasing arrangements. Following an evaluation of current new-build and time charter rates, Yara has chosen to build new vessels to replace existing time-chartered vessels, covering part of its...

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