Fortescue and CMB.TECH Finalize Agreement for 12 Ammonia-Capable Vessels
Fortescue and CMB.TECH have formalized a charter agreement for up to 12 ammonia-capable vessels, promoting zero-emissions shipping. This initiative aims to decarbonize the maritime sector by advancing ammonia as a sustainable fuel alternative.
Theia Market Signal Identification - AI Assisted
Fortescue has secured a charter agreement for 12 Newcastlemax vessels from CMB.TECH, specifically its division Bocimar. Three of these vessels will feature dual-fuel ammonia engines and are expected to enter service by late 2026, while the remaining nine will be ammonia-ready.
This fleet could potentially decrease carbon dioxide emissions by around 250,000 tonnes annually if powered by green ammonia. The collaboration between Fortescue and CMB.TECH, which spans over 20 years, underscores the commitment to decarbonizing shipping and positions ammonia as a practical marine fuel option. The industry faces a pivotal moment, as embracing green ammonia could significantly bolster efforts to achieve sustainability targets.
Comments