Green Ammonia Shipping
Fortescue and CMB.TECH Agree to 12 Ammonia Bulkers for Zero-Emissions Shipping
Fortescue and CMB.TECH have signed a deal to charter up to 12 ammonia-capable bulk carriers, making it one of the largest single commitments to ammonia as a shipping fuel anywhere in the world, according to GlobeNewswire. Three of the vessels will run on dual-fuel ammonia engines and are set to enter service by the end of 2026.
If the entire fleet runs on green ammonia, it could cut carbon dioxide emissions by roughly 250,000 tonnes per year compared to conventional marine fuels, Yahoo Finance reported. As of late 2025, only 39 ammonia-capable ships were on order globally — making this 12-ship deal a landmark move.
From a Single Ship to a Fleet of Twelve
The deal builds on a relationship that goes back more than two decades. In April 2025, Fortescue signed its first charter with Bocimar — CMB.TECH's dry bulk division — for just one 210,000-deadweight-tonne Newcastlemax vessel, according to Yahoo Finance. That single-ship agreement has now grown into a 12-vessel fleet commitment signed on June 22, 2026.
CMB.TECH CEO Alexander Saverys called it a natural next step. "Fortescue and Bocimar have built a strong partnership over more than two decades," he said. "This agreement marks an important step in showcasing ammonia as a viable marine fuel," according to GlobeNewswire. Fortescue's Director of Integrated Operations, Katie Charuga, was more blunt: "The shipping industry doesn't need more talk. It needs action."
Why Ammonia and Why Now
Shipping produces about 3% of global greenhouse gas emissions. Fortescue has set a "Real Zero" target — meaning no emissions offsets, just actual elimination — for its own operations by 2030 and for shipping by 2040. Green ammonia fits that plan. It carries more energy per litre than liquid hydrogen and can use infrastructure already built for the fertiliser industry, ADVFN reported.
The key technical barrier has been engine availability. MAN Energy Solutions and WinGD only recently began supplying dual-fuel ammonia engines large enough for vessels of this size. Three of the 12 Newcastlemax ships will come fitted with these engines from delivery. The remaining nine are "ammonia-ready" — built so they can be converted later as the fuel supply grows, according to Daily Guardian.
Risks, Rivals, and Political Headwinds
Not everyone is rushing in. Ammonia is toxic. Industry experts warn about "ammonia slip" — unburned ammonia escaping into the atmosphere — and say crews need specialist training to handle the fuel safely. Rio Tinto's head of commercial operations, Laure Baratgin, has said the company will only charter ammonia vessels once risks are "sufficiently controlled," noting that ammonia still trails LNG and methanol by hundreds of ship orders, according to Markets Financial Content.
The political picture is also complicated. The EU added shipping to its carbon trading system in 2024. But global talks at the International Maritime Organization have stalled. U.S. President Donald Trump has called shipping emission levies a "global green new scam tax," threatening the financial case for green fuels, according to Yahoo Finance Canada.
The Deal Sends a Signal to Ports and Producers
Beyond the ships themselves, the agreement is designed to push the broader market to move. A 12-vessel commitment gives green ammonia producers a reason to build new plants — including projects planned in Namibia and Northeast China. Ports like Rotterdam and Dampier in Western Australia have already started ammonia transfer trials to prepare for vessels like these, according to UK Yahoo Finance.
The deal also puts pressure on regulators. The IMO has issued interim safety rules for ammonia-powered ships, but those rules remain non-mandatory. With commercial fleets now set to hit the water by late 2026, regulators will face growing pressure to lock in permanent standards fast, GlobeNewswire reported. Fortescue currently emits about 2.5 million tonnes of CO2 annually from its iron ore operations and shipping — meaning this fleet, if fully green, would offset roughly 10% of that total.
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