Fortescue and CMB.TECH Sign Milestone Charter for 12 Ammonia Bulkers
In what is being called a “milestone agreement” designed to accelerate the adoption of zero-emission shipping, Belgium’s CMB.TECH and Australian mining giant Fortescue signed a large ship charter agreement. Forescue has locked in up to 12 ammonia-capable Newcastlemax (210,000 dwt) vessels.
The vessels will come from the fleet Bocimar has ordered from China’s Qingdao Beihai Shipbuilding. Up to three of the vessels will be delivered with dual-fuel ammonia engines and are expected to enter service by the end of 2026. The remaining nine vessels will be ammonia-ready and can be converted to operate on ammonia in the future.
The companies highlight that if fueled by green ammonia, the combined fleet could reduce carbon dioxide emissions by approximately 250,000 tonnes a year compared with conventional marine fuels.
“This agreement marks an important step in showcasing ammonia as a viable marine fuel and advancing the transition to zero-emission shipping. It also sends a powerful signal to the market, particularly at a time when there is doubt about the decarbonization of shipping: our sector can decarbonize at scale. It just takes like-minded, determined partners who walk the talk,” said Alexander Saverys, CEO of CMB.TECH.
Bochimar has begun delivery of its ammonia and ammonia-ready bulkers (CMB.TECH)
Both companies have been at the forefront of the adoption of ammonia-fueled vessels. Fortescue completed the first-ever conversion of an offshore support vessel with two of its four engines capable of operating on ammonia. It has been used for demonstrations and to advance the protocols for ammonia-fueled shipping.
CMB.TECH has long spoken about the advantages of ammonia-fueled shipping and moved forward with the first orders for large newbuilds. At the beginning of May, it celebrated the joint naming of four of its bulkers being built with ammonia capabilities. One of the vessels, Mineral Latvija (210,00 dwt), 300 meters (984 feet) in length, departed on June 21 on a voyage to Port Hedland, Australia.
Bocimar and Fortescue have worked together for more than two decades in shipping. Together, they look to the new ships to further demonstrate ammonia and accelerate the industry adoption of the technology.
There was an early spurt in orders for ammonia-fueled vessels, which has slowed due to the uncertainties with regulations and supply. Recently, Exmar took delivery of the first newbuild, the tanker Antwerpen, which is ammonia-fueled, following the conversion by Fortescue of the OSV and two tugs converted in Japan and the United States.
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DNV reports there are currently 46 ammonia-fueled vessels on order. That is up from 39 orders as of last October. The majority of the first orders are for bulkers and gas tankers. DNV shows a quick pop in deliveries in this year and next, with a total of 37 vessels expected. The current orderbook stretches to 2030.
The charter with Fortescue follows a similar agreement that CMB.TECH reported in March 2025 with Japan’s Mitsui O.S.K. Lines. The companies agreed to joint ownership of three ammonia-fitted 210,000 dwt Newcastle bulk carriers and ordered six additional vessels, including two ammonia-fueled and four that will be delivered ammonia-ready.