Fortescue, CMB.TECH Sign Agreement for Ammonia-Powered Ore Carrier

CMB.TECH has signed an agreement with Fortescue to charter a new ammonia-powered ore carrier. 

Fortescue and Bocimar, part of CMB.TECH, have signed an agreement for an ammonia-powered Newcastlemax featuring a dual fuel engine.

The 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 2026.

It will play a vital role taking iron ore from the Pilbara to customers in China and around the world.

“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 decarbonize 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,” said Dino Otranto, Fortescue Metals’ CEO.

"Fortescue and Bocimar have been close partners for more than 20 years. We share the same values and are both passionate about decarbonizing 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 decarbonize today to navigate tomorrow,” added Alexander Saverys, CEO of CMB.TECH.