NYK Bulkship (Asia), Golden Island and Yara Clean Ammonia Norge have concluded a non-binding Term Sheet that paves the way towards a partnership to supply low-carbon ammonia as a marine fuel in Singapore.
The companies began discussions in the beginning of 2024 to explore the launch of the business, aiming to commence operations within this decade.
NYK group operates a fleet of more than 900 vessels. “With its potential to significantly reduce greenhouse gas emissions, ammonia is expected to play an important role in the future marine fuel mix. NYK group’s primary objective is to safely establish the infrastructure required to accelerate the adoption and scaling of ammonia-fueled vessels, while taking a leading role through collaboration with experienced industry partners,” says Atsuya Nojiri, Managing Director, NYK Bulkship (Asia).
“This partnership marks an important milestone in realizing our vision of a low-emission ammonia supply chain for new markets. Together with NYK Line and Golden Island, we are developing a last-mile ecosystem that will make low-emission ammonia bunkering available safely and reliably at one of the world’s most critical maritime hubs. Singapore’s leadership in maritime decarbonization makes it a natural starting point for scaling ammonia bunkering globally,” says Murali Srinivasan, SVP Commercial, Yara Clean Ammonia.