Mitsui O.S.K. Lines, Ltd. (MOL) announced that MOL and its wholly-owned subsidiary MOL Chemical Tankers Pte. Ltd. (MOLCT), along with Belgium-based CMB.TECH NV, have decided to jointly own and charter a total of nine Capesize bulkers and chemical tankers that can run on ammonia, a zero-emission fuel. These will be the world’s first ammonia dual-fuel Capesize bulkers and chemical tankers.
Nine vessels will be built by two Chinese shipyards, namely three 210,000 dwt Ammonia Dual Fuel Powered Newcastlemax bulk carriers to be built by Beihai Shipbuilding, which are expected to be delivered in 2026 to 2027. The other six 26,000 DWT chemical tankers involved in the agreement are new shipbuilding contracts signed with China Merchants Jinling Shipyard in Yangzhou “(CMJL (Yangzhou))”, including two Ammonia dual-fuel power chemical tankers and four Ammonia Ready chemical tankers, which are expected to be delivered between 2028 and 2029.
According to the agreement, the bulk carriers constructed by Beihai Shipbuilding will be jointly owned by CMB.TECH and MOL, with a 12-year charter period for each vessel by MOL; and the six chemical tankers constructed by CMJL (Yangzhou) will be leased to MOLCT on a charter basis.
“Thanks to this agreement, CMB.TECH increases its contract backlog by $921 million USD, to $2.94 billion, clearly demonstrating that our strategy of fleet rejuvenation, decarbonization and diversification is yielding tangible results,” said Alexander Saverys, CEO of CMB.TECH.
There is strong industry interest in ammonia fuel because it produces no carbon emissions when burned. Data from Det Norske Veritas (DNV) shows that a total of 31 vessels will be using ammonia fuel for newbuilding orders to be delivered up to 2027, but so far only three vessels have been retrofitted with ammonia fuel globally.
CMB.TECH is a diversified and future-proof maritime group. It owns and operates more than 150 seagoing vessels: crude oil tankers, dry bulk vessels, container ships, chemical tankers, offshore wind vessels & workboats. It also offers hydrogen and ammonia fuel to customers, through own production or third-party producers.
Along with Fairfield Chemical Carriers, a wholly owned subsidiary of MOLCT, MOL Chemical Tankers has industry’s largest stainless steel tank chemical fleet of more than 110 vessels in service worldwide, transporting a wide variety of liquid chemicals, vegetable oils, animal fats and lubricants.