Italy’s Grimaldi Group is hatching an order worth up to $1bn for 10 ammonia-ready car carriers to be built in China.

The vessels, with a capacity for 9,000 cars, will be built at shipyards within China Merchants Group, managing director Emanuele Grimaldi told TradeWinds.

The Naples-based operating owner has signed a letter of intent that could be firmed up by the end of the month, he added.