Australian iron ore producer Fortescue Metals Group has announced that it has signed an agreement with Belgium-based shipping company CMB.TECH to charter up to 12 ammonia-capable dry bulk vessels.
The initiative is intended to support the decarbonization of maritime transport while helping accelerate the commercial adoption of ammonia as a marine fuel.
Agreement covers up to 12 Newcastlemax bulk carriers
Under the agreement, Fortescue will charter 12 Newcastlemax vessels with a carrying capacity of 210,000 dwt from Bocimar, the dry bulk shipping division of CMB.TECH.
Up to three of the vessels will be equipped with dual-fuel ammonia engines upon delivery and are expected to enter service by the end of 2026. The remaining nine vessels will be delivered as ammonia-ready ships, allowing them to be converted for ammonia operation in the future as fuel availability and infrastructure continue to develop.
Green ammonia could significantly reduce emissions
According to the companies, the fleet could reduce carbon dioxide emissions by approximately 250,000 mt annually compared with vessels operating on conventional marine fuels if powered by green ammonia.
Fortescue stated that the agreement represents a practical step toward scaling the use of green ammonia across the maritime sector. The company also noted that its Green Pioneer demonstration vessel has already demonstrated the safe and effective use of ammonia in marine operations.
