Cido reverses course on VLACs with suezmax newbuild switch

May 26, 2025 Stu Turley Press
HD Hyundai

Cido Shipping has had a change of heart on its entry into the very large ammonia carriers (VLACs) segment, choosing instead to pivot back to a more conventional market.

The Hong Kong-based tonnage provider has reportedly converted its previous order at HD Hyundai Heavy Industries for a pair of 88,000 cu m VLACs into two 157,000 dwt suezmax tankers.

Originally placed in October 2024, the debut deal saw the owner of more than 70 ships paying around $126m per newbuild.

The suezmaxes, however, will cost about $86m apiece, with deliveries set for June and September of 2027.

The newbuilding switch takes Cido’s suezmax orderbook at HD Hyundai yards to six, with four ships contracted in July 2024 at a reported price of $91m each and deliveries in 2026 and 2027.

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Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.