Turkish industrial conglomerate Ciner Group has been linked to another major newbuilding investment after South Korean shipbuilding giant HD Hyundai disclosed an order for very large ammonia carriers (VLACs) worth about $715m.

The contract has been awarded by what the yard group described as European shipowner and covers the construction of six dual-fuel VLAC/LPG carriers at HD Hyundai Samho.

While the buyer was not identified, shipbroking and market sources have connected the order to Ciner, which had already been reported to be in advanced talks with HD Hyundai over a series of large gas carrier newbuildings.

The vessels are scheduled for delivery through to December 2029 and represent Ciner’s latest move in what has become one of the industry’s most active fleet expansion programmes.

The order is likely being placed through Ciner’s shipping arm, headed by Vasileios Papakalodoukas, which relocated its shipping operations to Greece in early 2025.

The latest deal adds another chapter to an aggressive ordering campaign that has seen the Istanbul-based group emerge as one of the most active investors in new tonnage in recent years.

Across multiple shipping sectors, Ciner has built a substantial forward orderbook spanning dry bulk, container shipping and now gas transportation.

The group has continued to diversify its newbuilding portfolio rather than focus on a single segment. Most recently, it contracted six ultramax bulk carriers at New Dayang Shipbuilding in China.

Ciner also maintains an active presence in the containership market, including 3,100 teu vessels booked in late 2025, while larger bulkers are under construction at Hengli Shipbuilding in Dalian.