U-Ming, Itochu eye joint operation of ammonia ships

U-Ming Marine Transport (S) Pte Ltd and ITOCHU Corp. are eyeing joint ownership and operation of ammonia dual-fuel bulk carriers.

The companies signed a memorandum of understanding that also outlines the exploration and implementation of other maritime-emission lowering solutions like the use of alternative fuels such as methanol, alongside various energy-saving devices.

The International Maritime Organization’s 2023 greenhouse gas reduction strategy has a net-zero emissions target by 2050, and ammonia is seen as a viable alternative fuel to help the industry attain the target.

A subsidiary of U-Ming Marine Transport Corp., U-Ming Transport’s collaboration with Itochu is expected to play a leading role in decarbonization in global shipping.

U-Ming’s understanding, implementation and commercialization of dual fuel technology has allowed it to build strong relations with major shippers, shipyards and shipping companies which play a big role in advancing ammonia as a fuel, the Taiwanese company said in a statement.

Besides owning four LNG duel-fuel Capsize bulk carriers, U-Ming is now undertaking feasibility studies on the installation of rotor sails, carbon capture system, and retrofitting of traditional fuel systems to methanol dual-fuel on its fleet.

Such initiatives aim to substantially diminish the carbon footprint across its fleet.

As of 2018, greenhouse gas emissions from the global shipping industry were estimated to account for some 2.1% of the worldwide total.