Itochu & U-Ming Singapore Sign MoU for Ammonia Dual-Fuel Bulkers

AI generated image of an MoU and container ships in a port
Updated Published

The Singapore division of Taiwan-based U-Ming Marine Transport has entered into a memorandum of understanding (MoU) with the Japanese conglomerate Itochu to co-own and manage ammonia-powered dual-fuel bulk carriers.

This MoU is a component of Itochu's initiative aimed at reducing greenhouse gas emissions through the development of ammonia dual-fuel vessels and the creation of an international ammonia distribution network in collaboration with other industry stakeholders.

As of 2018, emissions from global shipping activities are believed to make up about 2.1% of worldwide emissions. The International Maritime Organization's 2023 GHG Reduction Strategy sets a goal for the shipping industry to achieve net-zero GHG emissions by 2050, with ammonia being considered a promising alternative fuel to reach this objective.

The partnership will also investigate and deploy additional strategies to decrease maritime emissions, including the adoption of alternative fuels such as methanol and the integration of energy-efficient technologies.

U-Ming is also exploring the potential for environmental innovations within its fleet, such as the application of rotor sails, carbon capture technologies, and the conversion of conventional oil-fueled systems to methanol dual-fuel systems for its four LNG dual-fuel capesize bulk carriers. These measures are expected to significantly reduce U-Ming's fleet-wide environmental impact.

U-Ming's diverse fleet consists of 72 vessels, including capesize, panamax, post-panamax, supramax, ultramax, cement carriers, VLCCs, VLOCs, and CTVs servicing offshore wind farms, with a combined deadweight capacity of approximately 8.77 million tonnes.