MOL Pioneers the Future of Shipping with Innovative Ammonia-Powered Capesize Bulk Carriers and Chemical Tankers
image Credits: MOL/Facebook
In an exciting development for the maritime industry, MOL has teamed up with Belgium’s CMB Tech to roll out the globe’s inaugural ammonia dual-fuel Capesize bulk carriers and chemical tankers.This partnership is set to revolutionize how we think about shipping fuels.
Together, these two companies will co-own and operate a fleet of nine vessels, which includes ships that are ready for ammonia use. Among them are three innovative dual-fuel bulk carriers currently being constructed at CSSC Qingdao Beihai Shipbuilding in China. Each of these giants boasts a capacity of 210,000 deadweight tons (dwt) and is part of a larger order from Bocimar,CMB Tech’s shipping arm. We can expect to see these vessels hitting the water between 2026 and 2027.
MOL Chemical Tankers isn’t stopping there; they’re also chartering two ammonia-powered dual-fuel chemical tankers along with four additional ammonia-ready chemical carriers. These six vessels are under construction at china Merchants Jinling Shipyard, with their launch slated for 2028 and 2029. Initially running on customary fuels,these tankers have been designed with future conversions to ammonia propulsion in mind—talk about forward-thinking!
Long-term charters have already been secured for this ambitious fleet: the bulk carriers will be leased out for a solid twelve years while the chemical tankers will be tied down under contracts lasting ten and seven years respectively. The management of these bulkers will fall under a joint venture between MOL and CMB Tech.
This initiative aligns perfectly with MOL’s broader environmental goals as outlined in its MOL Group Environmental Vision 2.2 plan—aiming for net-zero greenhouse gas emissions by mid-century is no small feat!
On another note,this agreement has significantly boosted CMB Tech’s contract backlog by $921 million,bringing their total backlog up to an remarkable $2.94 billion—a clear indicator that they’re making waves in the industry.
Investment bank Fearnley Securities
