Yara Clean Ammonia (YCA) and Bunker Holding Group signed an MOU establishing the intention to collaborate to accelerate the development of the market for clean ammonia as a shipping fuel, according to the company's release. This agreement connects two key elements of the supply chain needed to achieve the use of clean ammonia as a shipping fuel, namely a global supplier of clean ammonia and the largest bunker supplier today in terms of end users.
This commitment will cover multiple global geographies and focus on serving First Mover initiatives spanning different regions.
The development and use of sustainable fuels contributes to several of the 2030 Agenda’s Sustainable Development Goals: SDG 7 (Affordable and clean energy), SDG 8 (Decent work and economic growth), SDG 12 (Responsible consumption and production), and SDG 13 (Climate action).
Yara Clean Ammonia operates the largest global ammonia network with 15 ships and access to 18 ammonia terminals and multiple ammonia production and consumption sites across the world, through Yara. Revenues and EBITDA for the full year 2022 were USD 4,422 million and USD 249 million respectively. Yara Clean Ammonia is headquartered in Oslo, Norway.
Bunker Holding is a global leader in the purchasing, selling, and supplying of marine fuel and lube oil as well as providing risk management and other vital services for the shipping industry.