U-Ming Marine Transport of Taiwan and Itochu Corp of Japan have revealed plans to jointly develop a fleet of ammonia-fuelled bulk carriers.
A memorandum of understanding signed on Friday between U-Ming’s Singapore-based shipowning subsidiary and the Japanese trading house calls for the two companies to “explore discussions on jointly owning and operating ammonia dual-fuel bulk carriers”.
The MoU also outlines the exploration and implementation of other maritime emission lowering solutions such as the use of alternative fuels like methanol and various energy-saving devices.
“Leveraging U-Ming’s experience and expertise, the collaborative efforts with Itochu are expected to play a leading role in driving decarbonisation in international shipping,” the two companies said in a joint statement.
“U-Ming’s understanding, implementation, and commercialisation of dual-fuel technology has allowed the company to build strong relationships with major shippers, shipyards, and shipping companies which will play a key role in advancing ammonia as a fuel,” they added.
The two companies declined to comment further on the specifics of the MoU, telling TradeWinds via an external public relations agency that they would only be able to share more information on this joint development at a later stage depending on the progress.
U-Ming is one of Asia’s more progressive bulker owners on the decarbonisation front.
In addition to building four LNG dual-fuel capesize bulk carriers, the company is presently undertaking feasibility studies regarding the installation of rotor sails, carbon capture systems and the retrofitting of traditional oil fuel systems to methanol dual-fuel on its fleet.
The MoU signing is part of Itochu’s “Integrated Project”, which aims to lower greenhouse gas emissions by developing ammonia dual-fuel ships and establishing a global ammonia supply chain with industry partners.
When the project was first announced in 2021, Itochu indicated that it would work with engine manufacturer Mitsui E&S Machinery to design and build ammonia-fuelled engine systems that would be fitted into newcastlemax bulk carriers built by Nihon Shipyard.
The ships themselves would be jointly owned by Itochu and Japanese shipowners K Line and NS United.
Itochu has also played a very active role in the development of ammonia bunkering infrastructure, working with both Japanese and international marine fuel suppliers on various projects and studies.
