CMB.TECH and MOL sign up for nine ammonia-powered ships

The Belgian shipowner, CMB.TECH, which operates a diversified fleet of more than 160 vessels, has signed an agreement with Mitsui O.S.K. Limes, Ltd, (MOL) and MOL Chemical Tankers Pte Ltd for Newcastlemax bulk carriers and chemical tankers to be fuelled by ammonia.

The package consists of three ammonia-powered Newcastlemax bulk carriers of 210,000dwt currently on order at Qingdao Beihai Shipyard in China. They will be jointly owned by CMB.TECH and MOL and deployed on long-term twelve-year charters to MOL. The ships are due to be delivered in 2026 and 2027.

Meanwhile, six chemical tankers, so far of unspecified size, have been ordered at China Merchants Jinling Shipyard (Yangzhou) by CMB.TECH and chartered to MOL Chemical Tankers on long-term charters. Two of the six tankers will be built for ammonia operation from the outset and deployed on ten-year charters. The other four, to be ‘ammonia-ready’, will be fixed on shorter seven-year deals. Deliveries of these vessels is expected in 2028 and 2029.    

CMB.TECH chief executive, Alexander Saverys, commented: “We are proud and honoured to sign this landmark agreement with MOL and MOL Chemical Tankers, one of the most respected shipowners in the world. MOL and CMB.TECH share the same vision of decarbonising the maritime industry, and the partnership for these nine vessels is a major milestone towards achieving shipping industry’s goals of net zero emissions by 2050. Thanks to this agreement, CMB.TECH increases its contract backlog by USD 921 million (to USD 2.94 billion), clearly demonstrating that our strategy of fleet rejuvenation, decarbonisation and diversification is yielding tangible results.”