Australia’s BHP Group has signed contracts with COSCO Shipping Bulk, a subsidiary of COSCO Shipping, for the charter of two ammonia dual-fueled Newcastlemax bulk carriers.The new vessels to be built under the
Australia’s BHP Group has signed contracts with COSCO Shipping Bulk, a subsidiary of COSCO Shipping, for the charter of two ammonia dual-fueled Newcastlemax bulk carriers.
The new vessels to be built under the arrangement will be two of only a handful of vessels in the world capable of using ammonia as a marine fuel.
The two vessels, expected to be delivered from 2028, will primarily transport iron ore from Western Australia to Northeast Asia.
When run on lower or low to zero greenhouse gas (GHG) emissions ammonia, these vessels will be capable of reducing GHG emissions by at least 50% and up to 95% on a per voyage basis compared to a conventionally fueled voyage, according to BHP.
The five-year time charter contracts are expected to contribute towards a reduction in the GHG emissions intensity of BHP chartered shipping.
BHP selected COSCO Shipping following a rigorous expression of interest process, which evaluated safety, technical and commercial considerations.
“We believe this investment will help to build momentum in the technology, strengthen the demand for ammonia as a marine fuel, and support the reduction of greenhouse emissions in the maritime value chain.
“As one of the world’s largest dry bulk charterers, BHP
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