MOL and CMB.TECH seal deal for ammonia-powered bulker, tanker fleet

Japan’s shipping giant Mitsui O.S.K. Lines (MOL), its Singapore-headquartered subsidiary MOL Chemical Tankers (MOLCT), and Belgium-based shipowner CMB.TECH have signed a ‘major’ agreement covering the operations of nine dual-fuel ammonia-powered vessels under construction at two Chinese yards.

Per CMB.TECH, the parties have inked a deal to jointly own and charter what is being hailed as ‘the world’s first’ ammonia dual-fuel Newcastlemax bulkers and chemical tankers.

A trio of the newbuilds, comprising 210,000 dwt dual-fuel ammonia-equipped bulkers, was ordered at China’s Qingdao Beihai Shipbuilding, part of