U-Ming and Itochu sign MoU on ammonia
Singapore-based U-Ming Marine Transport (S) Pte Ltd has signed a Memorandum of Understanding (MoU) with Japan’s Itochu Corporation on the joint ownership and operation of ammonia dual-fuel bulk carriers.
The Singapore subsidiary of Taipei-headquartered U-Ming Marine Transport Corporation and partner Itochu will initially focus on four Capesize bulk carriers. However, U-Ming’s 72-ship includes Panamax, Supramax and Ultramax bulk carriers, cement carriers, VLCCs, VLOCs and crew transfer vessels.
The company has feasibility studies in progress relating to the possible installation of rotor sails, carbon capture systems, and the conversion of conventional fuel engines to dual-fuel methanol systems on existing vessels.
Meanwhile, the MoU forms 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. The MoU also outlines initiatives to explore the possible implementation of other systems to cut emissions including the adoption of methanol as fuel and the uptake of energy saving devices.
