Bunker Holding and NeoGreen Hydrogen Corp. announce the signing of a Memorandum of Understanding to collaborate on the operations, logistics, and marketing of green ammonia and synthetic fuels across NeoGreen’s global project portfolio.
ith the EU’s FuelEU Maritime regulations due to enter into force in 2025 and the expectation of new IMO regulations in 2027, pressure is building on the shipping industry to prepare for a low-carbon future, with ammonia and e-methanol being two of the most likely future fuels for the industry.
Legislation is driving the necessity for our clients to have reliable access to alternative fuels, while there remains considerable uncertainty about the sources of supply.
..said Valerie Ahrens, Senior Director of New Fuels and Carbon Markets at Bunker Holding.
Our collaboration with Bunker Holding will ensure we benefit from their vast experience in operations, logistics, storage, and delivery of these maritime fuels to consumers. Bunker Holding will also be able to support NeoGreen in access to offtakers through its very significant existing client base across the global shipping industry.
..Rory Harding, Head of Corporate Development at NeoGreen, comments.
Furthermore, Bunker Holding is the parent company of a group specialising in the purchase, sale, and supply of fuel and lube oil for the shipping sector. With its affiliated subsidiaries and companies, it stands as the world’s largest bunker trader and supplier by both volume and revenue, with 62 offices and a presence in 32 countries around the globe.
Bunker Holding has been exploring opportunities to store and supply low-carbon fuels such as green ammonia and e-methanol and aims to position itself as a leading supplier of Green Bunkers to the global shipping sector. Bunker Holding recently signed an MOU with Yara Clean Ammonia in order to collaborate to accelerate the development of the market for clean ammonia as a shipping fuel.
Both parties believe that overcoming logistical and delivery challenges is key to assuring long-term offtake of new, environmentally friendly fuels and will cooperate across NeoGreen’s portfolio to optimise these operations, while Bunker Holding will also support in the marketing of NeoGreen’s products to its global client base.