NYK Bulkship (Asia) Pte. Ltd., Golden Island Pte. Ltd. and Yara Clean Ammonia Norge AS have signed a non-binding term sheet to jointly explore the marketing and supply of low-carbon ammonia as a marine fuel to end-users in Singapore, according to the companies.
The agreement sets out a route toward building an ammonia bunkering business at the world’s largest marine fuel hub, bringing together ship-side, supply-chain and fuel-handling expertise as owners prepare for tougher decarbonization demands.
The partners said the business is aimed at supporting the take-up of zero-or-near-zero-emission marine fuels and strengthening the infrastructure needed to scale ammonia-fuelled shipping.
NYK Line will bring experience from LNG bunkering operations as well as technical and operational know-how from ammonia carriers and ammonia-fuelled vessel projects.
Golden Island contributes more than 40 years of experience in Singapore’s bunkering market, along with customer access, scheduling capability and supply-chain coordination.
Yara Clean Ammonia adds ammonia production and handling expertise and an established logistics platform.
The three companies began discussions in early 2024 and are targeting the start of operations within this decade.
“NYK group operates a fleet of more than 900 vessels and recognizes the transition to ZNZ marine fuels as a critical step towards achieving net-zero emissions by 2050. With its potential to significantly reduce greenhouse gas emissions, ammonia is expected to play an important role in the future marine fuel mix. NYK group’s primary objective is to safely establish the infrastructure required to accelerate the adoption and scaling of ammonia-fueled vessels, while taking a leading role through collaboration with experienced industry partners,” said Atsuya Nojiri, Managing Director, NYK Bulkship (Asia) Pte. Ltd.
“Golden Island is pleased to partner with NYK Line and Yara Clean Ammonia to advance the development of clean ammonia bunkering in Singapore. With more than 40 years of experience in Singapore’s bunkering industry, we bring a strong customer network and deep operational expertise in bunker scheduling and supply chain coordination. Over the years, we have supported the industry’s transition through initiatives such as the adoption of VLSFO, biofuels, methanol as marine fuel, and digitalization efforts including electric Bunker Delivery Note. Through this partnership, we look forward to contributing our operational capabilities and high safety standards to support Singapore’s development as a global hub for next-generation marine fuels,” said Johnny Tan, Managing Director, Golden Island.
“This partnership marks an important milestone in realizing our vision of a low-emission ammonia supply chain for new markets. Together with NYK Line and Golden Island, we are developing a last-mile ecosystem that will make low-emission ammonia bunkering available safely and reliably at one of the world’s most critical maritime hubs. Singapore’s leadership in maritime decarbonization makes it a natural starting point for scaling ammonia bunkering globally,” said Murali Srinivasan, SVP Commercial, Yara Clean Ammonia.
Ammonia is being positioned as a zero-or-near-zero-emission fuel because it does not emit CO₂ during combustion, making it a potential marine fuel option for the 2030s and beyond. Singapore supplies about one-fifth of global marine fuel demand, giving the proposed venture a strategic entry point into the emerging market for alternative bunker fuels.
NYK Bulkship (Asia) Pte. Ltd. is a Singapore-incorporated shipping company within the NYK Group involved in bulk and energy-related maritime transport activities.
Golden Island Pte. Ltd. is a Singapore-based bunkering company focused on marine fuel supply, scheduling and operational coordination in the port’s fuel-delivery chain.
Yara Clean Ammonia Norge AS is a Norway-incorporated ammonia company engaged in production, distribution, logistics and the development of low-emission ammonia value chains. The company said FY 2025 revenue was $1.985bn and EBITDA was $114m, and that it operates a global ammonia network with 15 ships and access, through Yara, to 18 ammonia terminals and multiple production and consumption sites worldwide.