ITOCHU enters deal for joint ownership of ammonia-fuelled ships

The Japanese trading firm ITOCHU has signed a Memorandum of Understanding (MoU) with U-Ming Marine Transport to explore the joint ownership and operation of ammonia-fuelled ships. 

PHOTO: A model of a gas carrier powered by ammonia. NYK Lines

U-Ming Marine Transport is a shipping company headquartered in Taiwan. One of the collaboration's aims also includes the expansion of an ammonia supply chain network.  

ITOCHU is currently working on an integrated project to develop ammonia-fuelled ships in collaboration with different partners. The partnership with U-Ming will also explore alternative fuels, such as methanol and other energy-saving technologies that can be installed on ships.

By Manjula Nair

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