Further Development of Ammonia as a Shipping Fuel
Yara Clean Ammonia and Bunker Holding Group have signed a Memorandum of Understanding (MOU) exploring opportunities of working together to accelerate plans to supply the shipping industry with ammonia as a fuel.
The collaboration will focus on looking into means of supplying clean ammonia as a marine fuel to first movers in the shipping industry along key trade routes and bunkering ports in various geographical regions.
This agreement connects two key elements of the supply chain needed to achieve the use of clean ammonia as a shipping fuel: a global supplier of clean ammonia and the largest bunker supplier today in terms of end users.
“We look forward to collaborating with Bunker Holding to support the acceleration of the net zero carbon energy transition for the shipping industry with clean ammonia,” says Murali Srinivasan, SVP commercial of Yara Clean Ammonia.
“Our global assets and logistical footprint, coupled with Bunker Holdings’ position as the world’s largest bunker player, will bring safety, reliability, and security of clean ammonia supply as a shipping fuel and will add more resilience and robustness to developing this value chain in the future,” he added.
“We are excited to work with Yara Clean Ammonia on developing a credible commercial offering for the supply of low- and zero-carbon ammonia to our global customer base,” adds Valerie Ahrens, senior director, new fuels and carbon markets, Bunker Holding.
She continued, “We are committed to playing a leading role in facilitating the decarbonization of the maritime sector, and as such, it is vital for us to collaborate with partners who can offer the market confidence around the scale and security of supply of low-carbon fuels.”