CMB.TECH NV (NYSE: CMBT & Euronext: CMBT) and global green energy company Fortescue have signed a pivotal agreement for the charter of a 210,000-deadweight ton (dwt) ammonia-powered Newcastlemax vessel, marking a significant step forward in the decarbonization of the shipping industry.
The vessel, featuring a dual-fuel engine capable of running on green ammonia, is expected to be delivered by the end of 2026. It is part of a series of large dry bulk carriers being constructed by Qingdao Beihai Shipyard for Bocimar, a subsidiary of CMB.TECH.
Supporting a Greener Supply Chain
The vessel will play a key role in transporting iron ore from Fortescue’s operations in the Pilbara to customers in China and across the globe. This initiative supports Fortescue’s goal of net-zero Scope 1 and 2 emissions by 2030, and its longer-term ambition of eliminating Scope 3 emissions by 2040, including emissions associated with maritime transport and downstream steelmaking.
Green Ammonia as a Fuel of the Future
Fortescue has emerged as a vocal advocate for the early adoption of zero-emission fuels like green ammonia, firmly opposing transitional fuels such as LNG and biofuels. The company’s flagship Fortescue Green Pioneer, the world’s first dual-fuel ammonia-powered ship, is currently in London ahead of a planned global tour to raise awareness about the maritime sector’s urgent need for decarbonization.
Leadership Commentary
Fortescue Metals CEO Dino Otranto remarked:
“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 decarbonise 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.”
Meanwhile, Alexander Saverys, CEO of CMB.TECH, emphasized the long-standing relationship between the two companies:
“Fortescue and Bocimar have been close partners for more than 20 years. We share the same values and are both passionate about decarbonising 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 decarbonise today to navigate tomorrow.”
With this partnership, Fortescue and CMB.TECH aim to set new industry standards and accelerate the shift toward scalable, sustainable marine fuels. The agreement is being hailed as a critical step toward zero-emissions shipping, backed by a shared commitment to innovation, collaboration, and environmental leadership.
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Source: CMB.TECH
