Norway Funds Innovative Ammonia-Fuelled Bulk Carriers
Norway’s Amon Bulk is advancing its ambitious project to construct three ammonia-fuelled kamsarmax bulk carriers, following a significant investment grant of NOK 298 million (approximately $27 million) from the state energy agency, Enova. These vessels, each with a capacity of around 80,000–85,000 deadweight tons (dwt), are engineered to meet the rising demands for energy efficiency and compliance with stringent emissions regulations in Europe and beyond. This initiative aims to support European steelmakers striving to reduce their carbon footprint in logistics.
Investment and Environmental Compliance
The new kamsarmax carriers are designed to align with the EU Emissions Trading System and FuelEU Maritime requirements, which are expected to become more stringent over the next decade. Amon Maritime’s chief executive, André Risholm, emphasized that this grant lays the groundwork for expanding their fleet with these advanced vessels. “It marks an important step for Amon Bulk and for the industry’s green transition,” he stated, highlighting the significance of the investment in promoting sustainable shipping solutions.
This latest funding follows a previous Enova grant of NOK 253 million, which initially supported Amon Bulk’s plans for two ammonia-powered vessels—a capesize and a kamsarmax. With the new grant, Amon Bulk has now secured over NOK 552 million in public funds to develop a total of five ammonia-fuelled bulk carriers. The delivery of all five vessels is scheduled between 2029 and 2030, marking a significant milestone in the shipping industry’s shift toward greener alternatives. This initiative not only promises to enhance operational efficiency but also aims to safeguard earnings as environmental regulations become increasingly stringent.
