Recently, Australian mining giant Fortescue signed an agreement with Belgian shipping and clean technology group CMB.TECH to charter twelve 210,000 deadweight ton Newcastlemax bulk carriers powered by ammonia fuel, aiming to further promote maritime decarbonization and accelerate the commercial application of green ammonia fuel in the shipping industry.
According to the agreement, Fortescue will charter these new bulk carriers from Bocimar, the dry bulk shipping company under CMB.TECH. Among them, three vessels will be directly equipped with ammonia dual-fuel engines and are expected to be operational by the end of 2026; the remaining nine vessels will adopt an ammonia-ready design and can be retrofitted in the future to operate on ammonia fuel.
Fortescue and CMB.TECH stated that if these vessels operate using green ammonia fuel, they could reduce carbon dioxide emissions by approximately 250,000 tons per year compared to using traditional marine fuel.
It is reported that all twelve Newcastlemax bulk carriers are being built by Qingdao Beihai Shipbuilding, including both existing vessels already in operation and new vessels under construction. According to data from Clarksons, since 2023, Beihai Shipbuilding has delivered a total of 21 Newcastlemax bulk carriers to Bocimar, including 14 ammonia-ready vessels delivered between 2024 and 2025, and three ammonia dual-fuel vessels delivered this year; in addition, Beihai Shipbuilding is constructing an additional seven ammonia dual-fuel vessels for Bocimar, scheduled for delivery in the remaining time this year through the first half of next year.
This charter agreement is an important part of Fortescue’s strategy to promote the green hydrogen and green ammonia industry. In Fortescue’s view, green hydrogen and green ammonia will become key energy sources for achieving decarbonization in hard-to-abate sectors such as shipping.
Katie Charuga, Director of Integrated Operations at Fortescue, said: “Green ammonia fuel is one of the clearest pathways to reducing carbon dioxide emissions in the shipping industry, and these bulk carriers are a practical step towards this future.”
Previously, Fortescue had already conducted ammonia fuel application tests using its demonstration vessel, the “Green Pioneer”. The vessel, converted from the platform supply vessel “MMA Leveque”, is the world’s first clean ammonia-fueled ship. In March 2024, the “Green Pioneer” successfully completed the world’s first trial operation using ammonia as marine fuel at the Port of Singapore, accumulating important experience for the commercialization of ammonia-powered vessels.
For CMB.TECH, this cooperation is also an important milestone in promoting the commercial application of alternative fuels, helping to accelerate the development of ammonia-powered shipping. Alexander Saverys, CEO of CMB.TECH, said: “This agreement is an important step in demonstrating ammonia as a viable marine fuel and driving the shipping industry’s transition to zero emissions.”
Green ammonia, produced using renewable electricity, is widely regarded as one of the most promising alternative marine fuels. Because it contains no carbon and requires only relatively limited modifications to existing internal combustion engines for use, it is seen as an important candidate to replace traditional marine fuel oil.
Industry insiders believe that this batch charter agreement for ammonia-fueled bulk carriers sends a positive signal to shipowners, fuel suppliers, and port operators—that commercial demand for ammonia-fueled vessels is gradually taking shape. As demand continues to be released, it is expected to further drive investment in the green ammonia supply chain, bunkering infrastructure, and related supporting systems, thereby accelerating the promotion and application of green ammonia in the global shipping industry.
