CMB.TECH NV and Fortescue have announced an agreement for the charter of a new ammonia-powered vessel, according to the company's release.
The 210,000-dwt ammonia-powered Newcastlemax will feature a dual fuel engine and is anticipated for delivery by the end of 2026.
Fortescue has also entered into an agreement with Bocimar, part of CMB.TECH, for a similar ammonia-powered Newcastlemax with a dual fuel engine.
This 210,000 dwt vessel is part of CMB.TECH’s series of large dry bulk carriers currently on order at Qingdao Beihai Shipyard and is expected to be delivered to Fortescue by the end of next year.
The vessel will be utilized for transporting iron ore from the Pilbara region to customers in China and globally.
Fortescue aims to eliminate Scope 1 and 2 emissions from its Australian iron ore operations by 2030 and achieve Net Zero Scope 3 emissions by 2040, acknowledging the challenges in decarbonizing shipping and steelmaking.
The Fortescue Green Pioneer, is the world's first dual-fuel ammonia-powered vessel, has been in London since early March and is scheduled for a global port tour to promote the transition to zero emissions fuels.
Fortescue Metals CEO Dino Otranto stated, “Our landmark agreement with Bocimar sends a clear signal to the market – now is the time for shipowners to invest in green ammonia-powered ships. The days of ships operating on dirty bunker fuel, which is responsible for 3 per cent of global carbon emissions, are numbered. We continue to implore shipping regulators to show the character and leadership that is necessary to ensure this happens sooner rather than later. Our agreement with Bocimar is just the beginning. Through the Fortescue Green Pioneer we have demonstrated that the technology to decarbonise shipping exists now. We will continue to work with like-minded companies like Bocimar to transition our fleet to low and zero-emissions vessels and help accelerate the widespread adoption of green ammonia as a marine fuel.”
Alexander Saverys, CEO of CMB.TECH, commented, "Fortescue and Bocimar have been close partners for more than 20 years. We share the same values and are both passionate about decarbonising the maritime industry. Based on our common belief that green ammonia is the fuel of the future, we were able to conclude this important agreement on the road to zero emission shipping. This is the beginning of an exciting journey to build more ammonia-powered ships that will stimulate more green ammonia production projects. We need to decarbonise today to navigate tomorrow."
CMB.TECH is a diversified maritime group based in Antwerp, Belgium. The company owns and operates a fleet of over 150 seagoing vessels, including crude oil tankers, dry bulk vessels, container ships, chemical tankers, offshore wind vessels, and workboats.
Fortescue is a global technology, energy, and metals group focused on accelerating the commercial decarbonization of industry. Its metals business primarily involves iron ore operations located in the Pilbara region of Western Australia, along with various exploration projects in Africa, Latin America, and Australia.