Fortescue Partners with CMB.TECH for Ammonia-Powered Ore Carrier

Fortescue, a leading mining company, has recently announced a groundbreaking partnership with CMB.TECH to charter a new ammonia-powered ore carrier. This collaboration marks a significant step towards decarbonizing the maritime industry and promoting sustainable shipping practices.

The agreement between Fortescue and Bocimar, a subsidiary of CMB.TECH, involves the chartering of a state-of-the-art ammonia-powered Newcastlemax vessel. This 210,000-dwt ship, equipped with a dual fuel engine, is part of CMB.TECH’s series of large dry bulk carriers currently under construction at Qingdao Beihai Shipyard. It is scheduled for delivery to Fortescue by the end of 2026 and will play a crucial role in transporting iron ore from the Pilbara region to customers in China and beyond.

Dino Otranto, CEO of Fortescue Metals, expressed enthusiasm about the partnership, stating, “Our landmark agreement with Bocimar underscores the urgent need for shipowners to invest in green ammonia-powered vessels. The era of relying on dirty bunker fuel, which contributes significantly to global carbon emissions, is coming to an end. We urge regulators in the shipping industry to demonstrate the leadership required to accelerate the transition to cleaner fuel sources.”

Furthermore, Otranto emphasized Fortescue’s commitment to sustainability through initiatives like the Fortescue Green Pioneer program, which aims to showcase the viability of green ammonia as a marine fuel. By collaborating with forward-thinking companies like Bocimar, Fortescue is paving the way for the adoption of low and zero-emission vessels in the shipping sector.

Alexander Saverys, CEO of CMB.TECH, echoed Otranto’s sentiments, highlighting the long-standing partnership between Fortescue and Bocimar based on shared values and a mutual dedication to decarbonization. Saverys emphasized the importance of green ammonia as a fuel of the future and expressed optimism about the potential for more ammonia-powered ships to stimulate green ammonia production projects.

As the maritime industry embraces sustainable practices and seeks to reduce its environmental impact, partnerships like the one between Fortescue and CMB.TECH are instrumental in driving innovation and fostering a greener future for shipping. By investing in ammonia-powered vessels and promoting the widespread adoption of green fuels, companies can contribute to a more sustainable and environmentally friendly maritime sector.