Published by Teresa on February 10, 2025
Yara Clean Ammonia, the world’s largest ammonia distributor, signed a time-charter contract with Nippon Yusen Kabushiki Kaisha (NYK) for an ammonia-fueled medium gas carrier (AFMGC) to be delivered in November 2026.
"Our successful collaboration with NYK enables us not only to comply with future regulations related to CO2 emissions from sea-going vessels but also helps us to ensure that our customers can receive carbon-intensity compliant clean ammonia throughout our supply chain from well to wake," says Murali Srinivasan, Senior Vice President Commercial in Yara Clean Ammonia.
Front Left: Hans Olav Raen, CEO, Yara Clean AmmoniaBack Left: Murali Srinivasan, Senior Vice President, Yara Clean AmmoniaFront Right: Takaya Soga, President, NYKBack Right: Tsutomu Yokoyama, Executive Officer, NYK
Since 2021, Yara Clean Ammonia and NYK have jointly studied the practical application of an ammonia-fueled ammonia gas carrier, and the companies have now concluded the world’s first time-charter contract for an AFMGC, the most popular type of vessel for the international maritime transportation of ammonia.
"I am pleased to have concluded this charterparty which will give us great flexibility to manage carbon emissions and product carbon intensity. I look forward to a successful cooperation in operating this new technology to its best efficiency," says Csaba Laszlo, Vice President Ammonia Trade & Shipping in Yara Clean Ammonia.
The use of an AFMGC will greatly contribute to significantly reducing GHG emissions from marine transportation and developing an ammonia supply chain by providing a more environment-friendly means of ammonia transport as demand grows for ammonia use in the power sector, for marine fuel, and the like.
Left: Csaba Laszlo, Vice President Ammonia Trade & Shipping, Yara Clean AmmoniaRight: Hironobu Watanabe, Managing Executive Officer, NYK
"In November 2023, we released the ‘NYK Group Decarbonization Story’ declaring a target of achieving net-zero GHG emissions by 2050. We have been developing an ammonia-fueled vessel because we believe that using alternative fuels, especially ammonia, is essential to reaching the net-zero goal. We are delighted to have concluded this time-charter contract with Yara Clean Ammonia, the world’s largest ammonia player, which has highly evaluated the AFMGC we develop with our partner companies as a next-gen fueled vessel. We will continue to work with Yara on building an ammonia supply chain from various aspects, not only in the maritime transportation of ammonia," says Hironobu Watanabe, Managing Executive Officer NYK.
Illustration of the AFMGS vessel to be delivered in November 2026
Yara grows knowledge to responsibly feed the world and protect the planet. Yara Clean Ammonia is uniquely positioned to enable the hydrogen economy in a market expected to grow substantially over the next decades. We aim at significantly strengthening our leading global position as the world’s largest ammonia distributor, unlocking the green and blue value chains, and driving the development of clean ammonia globally.
Building on Yara’s leading experience within global ammonia production, logistics, and trade, Yara Clean Ammonia works towards capturing growth opportunities in low-emission fuel for shipping, power generation, low-carbon food production, and ammonia for industrial applications.
Yara Clean Ammonia operates the largest global ammonia network with 15 ships and has, through Yara, access to 18 ammonia terminals and multiple ammonia production and consumption sites across the world. Revenues and EBITDA for the FY 2024 were USD 1.8 billion and USD 117 million respectively. Yara Clean Ammonia is headquartered in Oslo, Norway. www.yaracleanammonia.com
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue ✈️ SAF Isn’t a Buzzword Anymore - It’s 2025’s Breakout Fuel 🏅 Global Energy Prize Awarded to Three Scientists From China, USA and Russia ⚡ ACES Delta I Hydrogen Production and St...
Inside This Issue 🛢️ Exxon's Gas Strike, EPA Smackdown, and Carbon Curveball 🏭 MHI Awarded Contract for Basic Design of Japan's Largest CO₂ Capture Plant at Hokkaido Electric Power's Tomato-Atsuma...
Inside This Issue 🌊 The Quiet Rise of Offshore CO2 Storage: North America's Emerging Frontier for Carbon Capture 🍁 Canada Invests in Carbon Capture and Storage in Alberta 🛰️ Vortex Energy Finalize...
Spiritus Technologies PBC Plans Santa Fe, New Mexico, Operations
Spiritus Technologies PBC, a company engaged in sustainable carbon removal, plans to establish operations in Sante Fe, New Mexico. The project is expected to create 40 jobs. The company will lease...
ACES Delta I Hydrogen Production and Storage
World’s largest green hydrogen storage facility being developed in Utah with funding from the U.S. Department of Energy (DOE) Loan Programs Office will help scale low-carbon energy for western stat...
Partnership Signals Breakthrough Collaboration in Carbon Removal and Sustainable Fuel Development for $1 Billion Clean Fuels Facility Monroe Sequestration Partners (MSP), a premier carbon storage ...
National Carbon Capture Center Launches Novel UNOGAS MK3 Solvent Testing
A significant step forward in carbon capture is underway at the National Carbon Capture Center, where KC8 Capture Technologies' (KC8) advanced UNOGAS system – featuring the innovative UNO MK3 solve...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.