The two companies signed a Memorandum of Understanding (MoU) to explore opportunities to work together to accelerate plans to supply the shipping industry with ammonia as a fuel
Yara Clean Ammonia (YCA) and Bunker Holding Group signed an MOU establishing the intention to collaborate to accelerate the development of the market for clean ammonia as a shipping fuel. This agreement connects two key elements of the supply chain needed to achieve the use of clean ammonia as a shipping fuel, namely a global supplier of clean ammonia and the largest bunker supplier in terms of end users.
This commitment will cover multiple global geographies and focus on serving First Mover initiatives spanning different regions.
Clean ammonia is one of the most effective alternatives for decarbonizing maritime transport. As of 2026, shipping companies are expected to expand the use of this sustainable fuel to reduce CO2 emissions by up to 100% on a full life cycle basis.
Murali Srinivasan, SVP Commercial of Yara Clean Ammonia, said: “We look forward to collaborating with Bunker Holding to support the acceleration of the net-zero carbon energy transition for the Shipping Industry with clean ammonia. Our global assets and logistical footprint coupled with Bunker Holdings position as the world’s largest bunker player will bring safety, reliability, and security of clean ammonia supply as shipping fuel and will add more resilience and robustness to developing this value chain in the future”
Valerie Ahrens, Senior Director, New Fuels and Carbon Markets of Bunker Holding, said: “We are excited to work with Yara Clean Ammonia on developing a credible commercial offering for the supply of low- and zero-carbon ammonia to our global customer base. We at Bunker Holding are committed to playing a leading role in facilitating the decarbonization of the maritime sector and as such it is vital for us to collaborate with partners who can offer the market confidence around the scale and security of supply of low-carbon fuels.”
Register Now to Attend ChemConnect 2023 on Friday, 13th October 2023, Mumbai
Subscribe To Our Newsletter & Stay Updated