CMB.TECH and Mitsui partner on ammonia bulkers and tankers
CMB.TECH and MOL Join Forces for Ammonia-Powered Fleet
In a significant move towards sustainable shipping, CMB.TECH has partnered with Mitsui O.S.K. Lines (MOL) to jointly own and charter nine ammonia-powered vessels from 2026 to 2029. This agreement includes three Newcastlemax bulk carriers and six chemical tankers, marking a pivotal step in the maritime industry’s decarbonization efforts. The collaboration aims to support the shipping sector’s goal of achieving net-zero emissions by 2050.
Details of the Agreement
The partnership encompasses three ammonia dual-fuel Newcastlemax bulk carriers, each boasting a capacity of 210,000 deadweight tonnes (dwt). These vessels are currently under construction at Qingdao Beihai Shipyard and are slated for delivery in 2026 and 2027. Once completed, they will be jointly owned by CMB.TECH and MOL, with a charter agreement in place for a duration of 12 years.
In addition to the bulk carriers, the agreement includes six chemical tankers ordered from China Merchants Jinling Shipyard in Yangzhou. Among these, two will be ammonia dual-fuel vessels, while the remaining four will be ammonia-ready. These tankers will be chartered to MOL CHEMICAL TANKERS for terms ranging from seven to ten years. This strategic move not only enhances CMB.TECH’s fleet but also significantly boosts its contract backlog by $921 million, bringing the total to $2.94 billion.
Alexander Saverys, CEO of CMB.TECH, expressed pride in this landmark agreement, emphasizing the shared vision between CMB.TECH and MOL for a decarbonized maritime industry. He noted that this partnership is a major milestone in the ongoing efforts to reduce emissions in shipping.
Recent Developments and Future Plans
In a related development, CMB.TECH has recently acquired a substantial stake in Bermuda-based Golden Ocean Group, purchasing approximately 40.8% of the company’s outstanding shares at $14.49 each. This acquisition involves a total of 81,363,730 shares, further solidifying CMB.TECH’s position in the maritime sector.
Additionally, MOL has been proactive in exploring new opportunities. Last month, the company signed a memorandum of understanding with Fukada Salvage & Marine Works to investigate collaborative ventures in developing vessels for the transportation and installation of floating offshore wind turbines in Japan. This initiative aligns with the growing trend of integrating renewable energy solutions within the maritime industry.
As the shipping sector continues to evolve, partnerships like that of CMB.TECH and MOL highlight the industry’s commitment to sustainability and innovation, paving the way for a greener future.
