U-Ming Singapore and Itochu to own and operate ammonia dual-fuel bulkers
The Singapore arm of Taiwanese shipowner U-Ming Marine Transport has signed a memorandum of understanding (MoU) with Japanese trading house Itochu for jointly owning and operating ammonia dual-fuel bulk carriers.
The MoU signing is part of Itochu’s project which aims to lower greenhouse gas emissions by developing ammonia dual-fuel ships and establishing a global ammonia supply chain with industry partners.
GHG emitted from the international shipping industry is estimated to account for approximately 2.1% of the global total as of 2018. The International Maritime Organization has introduced the 2023 IMO GHG Reduction Strategy, incorporating the net-zero GHG emissions target by 2050. Ammonia is expected to be a viable fuel alternative to help the maritime industry meet these targets.
The agreement also outlines the exploration and implementation of other maritime emission lowering solutions such as the use of alternative fuels like methanol and various energy-saving devices.
In addition to the four owned LNG dual-fuel capesize bulk carriers, U-Ming is currently undertaking feasibility studies regarding the installation of rotor sails, carbon capture systems, and the retrofitting of traditional oil fuel systems to methanol dual-fuel on its fleet. These initiatives could significantly diminish the carbon footprint across U-Ming’s existing fleet.
U-Ming currently owns and operates a 72-strong fleet of vessels including capesize, panamax, post-panamax, supramax, ultramax, cement carriers, VLCCs, VLOCs, and CTVs for offshore wind farms. The total deadweight of the fleet is around 8.77m tonnes.
