Norwegian fuel cell developer TECO 2030 and compatriot Pherousa Green Shipping have signed a deal for the supply of hydrogen fuel cells for up to six zero-emission 63,000 dwt dry bulk carriers.
Each vessel will be equipped with 12MW fuel cells for main propulsion onboard and each package will be worth around €23m ($24.7m) per vessel. The TECO system will allow for 100% emissions-free operations with the first vessel targeted for delivery in the first quarter of 2027.
The delivery for TECO 2030 includes a complete system of fuel cells installed on a skid solution as well as power and automation equipment and is estimated to start shipment to the shipyard by early 2026, with delivery in mid-2026. The fuel cell system will go into production at the end of 2024.
The fuel cell system will be installed in combination with an ammonia-to-hydrogen cracker made by Pherousa Green Technologies. Opting for hydrogen fuel cells in combination with an ammonia cracker allows shipowners to commence with ammonia and transition to hydrogen whenever they want, minimizing investment risks.
The total supply agreement is subject to financing of Pherousa’s newbuild vessels and reaching a final contract of supply including closing price negotiations according to industry standards.
Last month, Pherousa signed a letter of intent with OSM Thome for the management of the vessels. It encompasses drawing approval, project development, and site supervision for the six bulkers. Furthermore, OSM Thome will manage the crew and technical management of the constructed vessels.
The initial fleet of six ultramaxes has a specific focus on serving the global copper industry. Given copper’s pivotal role in worldwide decarbonization efforts, the copper industry has set ambitious emission reduction targets, encompassing Scope 3 emissions which involve transportation to end users.
