Trafigura to co-sponsor development of MAN Energy Solutions ammonia engine
Trafigura Group Pte Ltd, one of the world’s leading independent commodity trading companies, is continuing its investment in renewable energy technologies by co-sponsoring the development of MAN Energy Solutions ammonia-fuelled engine for maritime vessels, according to the company's release.
The fuel-flexible, two-stroke ammonia engine is expected to be commercially available for large-scale ocean-going ships by 2024, followed by a retrofit package to make existing maritime vessels capable of running on ammonia by 2025.
According to the International Maritime Organization (IMO), maritime shipping emits around 1,056 million tons of carbon dioxide per year and is responsible for around 2.9 percent of all greenhouse gas emissions. Without mitigation, emissions are projected to grow by as much as 130 percent in 2050, compared to 2008 levels.
About Trafigura
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world and has recently established a power and renewables trading division. The trading business is supported by industrial and financial assets, including a majority ownership of global zinc and lead producer Nyrstar which has mining, smelting and other operations located in Europe, Americas and Australia; a significant shareholding in global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; and Galena Asset Management. With circa 850 shareholders, Trafigura is owned by its employees. Over 8,500 employees work in 48 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD147 billion in 2020.
About MAN Energy Solutions
MAN Energy Solutions enables its customers to achieve sustainable value creation in the transition towards a carbon neutral future. Headquartered in Germany, MAN Energy Solutions employs some 14,000 people at over 120 sites globally. The company's after-sales brand, MAN PrimeServ, offers a vast network of service centres to our customers all over the world.
