Malaysia’s top shipping line MISC, via its subsidiary, AET, South Korean shipbuilder Samsung Heavy Industries (SHI), and class society Lloyd’s Register, have signed a memorandum of understanding for the development and construction of two very large crude carriers (VLCCs) which can be operated on green ammonia.
The founding members of the Castor Initiative, a multinational coalition of shipping industry players that also includes MAN Energy Solutions, the Maritime and Port Authority of Singapore, Yara and Jurong Port, plan to have the first of these dual-fuel tankers enter into service in late 2025 and the second in early 2026.
Following the signing, the Castor Initiative members said they will focus on identifying green shipping corridors to facilitate the bunkering of the VLCCs and look into the establishment of an approved training syllabus for seafarers in at least two maritime training institutions to enable the smooth operations of these zero-emission ships.
“The signing of today’s MOU is the beginning of many more forward moves that will come from the Castor Initiative to accomplish our GHG ambitions jointly, ahead of 2050. The efforts of our collaboration have brought us to this historic moment where we will soon see the delivery of the world’s first two zero-emission VLCCs, which will be owned and operated by AET,” said MISC president and CEO, Datuk Yee Yang Chien.
SHI president and CEO, J. T. Jung, added: “The Castor Initiative members have already made impressive progress in making deep-sea zero-carbon vessels in the last few years, and we believe this new development of zero-carbon VLCCs will be accelerating the progress of The Castor Initiative and greatly help bring sooner energy transition in the shipping industry.”