CMB.TECH has signed an agreement with MOL and MOL Chemical Tankers (MOLCT) for the development of nine ammonia-powered vessels.
As announced by the companies on 24 March, these vessels will include some of the world’s first ammonia-powered Newcastlemax bulk carriers and chemical tankers, with deliveries expected between 2026 and 2029. The deal involves three ammonia-fitted 210,000 dwt Newcastlemax bulk carriers, currently on order at Qingdao Beihai Shipyard, which will be jointly owned by CMB.TECH and MOL, and chartered to MOL for 12 years each.
Additionally, six chemical tankers—two ammonia-fitted and four ammonia-ready—will be ordered at China Merchants Jinling Shipyard, with charter agreements to MOLCT for periods of 10 and 7 years, respectively.
This agreement highlights the shared commitment between MOL, MOLCT, and CMB.TECH toward decarbonizing the maritime industry. Alexander Saverys, CEO of CMB.TECH, emphasized that the partnership is a major milestone in achieving the shipping industry’s goal of net-zero emissions by 2050.
This deal also boosts CMB.TECH’s contract backlog by $921 million, bringing the total to $2.94 billion.
