Latest news with #FortescueGreenPioneer
Yahoo
29-04-2025
- Business
- Yahoo
First-of-its-kind ship makes history with inaugural voyage: 'A better future'
In what could be a pivotal moment for the future of sustainable shipping, the world's first ammonia-powered ship arrived at London's Canary Wharf in March 2025. According to Sustainable Times, the Fortescue Green Pioneer set out from Singapore in January and completed a journey of over 12,000 nautical miles after calling at Southampton for inspections. After being given the all-clear by authorities, the ship's company hopes that the tour will demonstrate the viability of ammonia for use in low-carbon shipping fuel. Fortescue's executive chairman and founder, Andrew Forrest, told Sustainable Times: "This will not only deliver a better future for the planet but accelerate a reduction in shipping costs through the widespread adoption and scaling of renewable energy." The UN Trade and Development noted that shipping accounts for roughly 3% of harmful planet-warming gas pollution worldwide. The massive cargo ships that carry out the bulk of global trade need vast amounts of fuel. Heavy fuel oil (HFO) is the most common type, which powers about 60% of the world's large ocean-going vessels, per Forbes. HFO is incredibly toxic, and its density makes it much harder to clean up after a spill. Despite the controversy, it is still widely used because it is the cheapest form of heavy-duty fuel that is widely available. Greener alternatives have been hard to come by until now. For example, hydrogen alone is extremely difficult to store and transfer over long distances. However, ammonia, a compound of hydrogen and nitrogen, can be liquified, stored, and transported much more easily, as the U.S. National Science Foundation observed. Ammonia is just one of several areas of promising research into alternative fuel sources. While the inaugural journey is promising, there are still some key hurdles to be overcome for it to be viable at scale. Would you want EV-charging roads installed in your town? Sign me up Depends how much it costs No way I'm not sure Click your choice to see results and speak your mind. Research from MIT, published in the Environmental Research Letters journal, found that ammonia as a fuel poses key health risks that will require careful management in the future. "We find that the public health impacts of switching from fossil fuel to ammonia depends largely on the technology and policy choices," the study detailed. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Associated Press
14-04-2025
- Business
- Associated Press
Fortescue and CMB.TECH sign agreement for ammonia-powered ore carrier
Antwerp, April 14, 2025 (GLOBE NEWSWIRE) -- NV (NYSE: CMBT & Euronext: CMBT) (' or the 'Company') has signed an agreement with Fortescue to charter a new ammonia-powered vessel. This emphasises the commitment of both companies to decarbonise the shipping industry. This 210,000-dwt ammonia-powered Newcastlemax will feature a dual fuel engine and is expected to be delivered by the end of 2026. Fortescue and Bocimar, part of have signed an agreement for an ammonia-powered Newcastlemax featuring a dual fuel engine. The 210,000-dwt vessel is part of series of large dry bulk carriers currently on order at Qingdao Beihai Shipyard and is expected to be delivered to Fortescue by the end of next year. It will play a vital role taking iron ore from the Pilbara to customers in China and around the world. While Fortescue is committed to eliminating Scope 1 and 2 emissions from its Australian iron ore operations by 2030, its target of Net Zero Scope 3 emissions by 2040 reflects the challenge of eliminating emissions from the shipping of its products to customers and from steelmaking. Fortescue has taken a global leadership position by advocating for the early adoption of zero emission fuels such as green ammonia, widely accepted as the long-term solution, and the bypassing of transitional fuels such as biofuels and LNG. The Fortescue Green Pioneer, the world's first dual-fuel ammonia-powered vessel, has been in London since early March and will soon embark on a tour of global ports to bring attention to the need for a hastened transition to zero emissions fuels. Fortescue Metals CEO Dino Otranto said: 'Our landmark agreement with Bocimar sends a clear signal to the market – now is the time for shipowners to invest in green ammonia-powered ships. The days of ships operating on dirty bunker fuel, which is responsible for 3 per cent of global carbon emissions, are numbered. We continue to implore shipping regulators to show the character and leadership that is necessary to ensure this happens sooner rather than later. Our agreement with Bocimar is just the beginning. Through the Fortescue Green Pioneer we have demonstrated that the technology to decarbonise shipping exists now. We will continue to work with like-minded companies like Bocimar to transition our fleet to low and zero-emissions vessels and help accelerate the widespread adoption of green ammonia as a marine fuel.' Alexander Saverys, CEO of said: 'Fortescue and Bocimar have been close partners for more than 20 years. We share the same values and are both passionate about decarbonising the maritime industry. Based on our common belief that green ammonia is the fuel of the future, we were able to conclude this important agreement on the road to zero emission shipping. This is the beginning of an exciting journey to build more ammonia-powered ships that will stimulate more green ammonia production projects. We need to decarbonise today to navigate tomorrow.' Announcement first quarter 2025 results – 14 May 2025 About is a diversified and future-proof maritime group. We own and operate more than 150 seagoing vessels: crude oil tankers, dry bulk vessels, container ships, chemical tankers, offshore wind vessels & workboats. We also offer hydrogen and ammonia fuel to customers, through own production or third-party producers. The company is headquartered in Antwerp, Belgium, and has offices across Europe, Asia, United States and Africa. is listed on Euronext Brussels and the NYSE under the ticker symbol CMBT. More information can be found at About Fortescue Fortescue is the technology, energy and metals group accelerating the commercial decarbonisation of industry, rapidly, profitably and globally. The metals business comprises iron ore operations in the Pilbara, Western Australia as well as a pipeline of exploration projects globally in Africa, Latin America and Australia. By 2030, they aim to have their Australian iron ore operations running on green energy, achieving Real Zero Scope 1 and 2 terrestrial emissions. Their Energy business is building a global portfolio of renewable green hydrogen and green ammonia projects and developing green technology solutions. As their business develops globally, their commitment to building thriving communities expands withthem. Delivering positive social and economic change through training, employment and business development opportunities is a key focus. Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words 'believe', 'anticipate', 'intends', 'estimate', 'forecast', 'project', 'plan', 'potential', 'may', 'should', 'expect', 'pending' and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. Attachment Katrien Hennin +32 499393470 [email protected]
Yahoo
14-04-2025
- Business
- Yahoo
Fortescue and CMB.TECH sign agreement for ammonia-powered ore carrier
Antwerp, April 14, 2025 (GLOBE NEWSWIRE) -- NV (NYSE: CMBT & Euronext: CMBT) (' or the 'Company') has signed an agreement with Fortescue to charter a new ammonia-powered vessel. This emphasises the commitment of both companies to decarbonise the shipping industry. This 210,000-dwt ammonia-powered Newcastlemax will feature a dual fuel engine and is expected to be delivered by the end of 2026. Fortescue and Bocimar, part of have signed an agreement for an ammonia-powered Newcastlemax featuring a dual fuel engine. The 210,000-dwt vessel is part of series of large dry bulk carriers currently on order at Qingdao Beihai Shipyard and is expected to be delivered to Fortescue by the end of next year. It will play a vital role taking iron ore from the Pilbara to customers in China and around the world. While Fortescue is committed to eliminating Scope 1 and 2 emissions from its Australian iron ore operations by 2030, its target of Net Zero Scope 3 emissions by 2040 reflects the challenge of eliminating emissions from the shipping of its products to customers and from steelmaking. Fortescue has taken a global leadership position by advocating for the early adoption of zero emission fuels such as green ammonia, widely accepted as the long-term solution, and the bypassing of transitional fuels such as biofuels and LNG. The Fortescue Green Pioneer, the world's first dual-fuel ammonia-powered vessel, has been in London since early March and will soon embark on a tour of global ports to bring attention to the need for a hastened transition to zero emissions fuels. Fortescue Metals CEO Dino Otranto said: 'Our landmark agreement with Bocimar sends a clear signal to the market – now is the time for shipowners to invest in green ammonia-powered ships. The days of ships operating on dirty bunker fuel, which is responsible for 3 per cent of global carbon emissions, are numbered. We continue to implore shipping regulators to show the character and leadership that is necessary to ensure this happens sooner rather than later. Our agreement with Bocimar is just the beginning. Through the Fortescue Green Pioneer we have demonstrated that the technology to decarbonise shipping exists now. We will continue to work with like-minded companies like Bocimar to transition our fleet to low and zero-emissions vessels and help accelerate the widespread adoption of green ammonia as a marine fuel.' Alexander Saverys, CEO of said: "Fortescue and Bocimar have been close partners for more than 20 years. We share the same values and are both passionate about decarbonising the maritime industry. Based on our common belief that green ammonia is the fuel of the future, we were able to conclude this important agreement on the road to zero emission shipping. This is the beginning of an exciting journey to build more ammonia-powered ships that will stimulate more green ammonia production projects. We need to decarbonise today to navigate tomorrow." Announcement first quarter 2025 results – 14 May 2025 About is a diversified and future-proof maritime group. We own and operate more than 150 seagoing vessels: crude oil tankers, dry bulk vessels, container ships, chemical tankers, offshore wind vessels & workboats. We also offer hydrogen and ammonia fuel to customers, through own production or third-party producers. The company is headquartered in Antwerp, Belgium, and has offices across Europe, Asia, United States and Africa. is listed on Euronext Brussels and the NYSE under the ticker symbol CMBT. More information can be found at About Fortescue Fortescue is the technology, energy and metals group accelerating the commercial decarbonisation of industry, rapidly, profitably and globally. The metals business comprises iron ore operations in the Pilbara, Western Australia as well as a pipeline of exploration projects globally in Africa, Latin America and Australia. By 2030, they aim to have their Australian iron ore operations running on green energy, achieving Real Zero Scope 1 and 2 terrestrial emissions. Their Energy business is building a global portfolio of renewable green hydrogen and green ammonia projects and developing green technology solutions. As their business develops globally, their commitment to building thriving communities expands withthem. Delivering positive social and economic change through training, employment and business development opportunities is a key Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words 'believe', 'anticipate', 'intends', 'estimate', 'forecast', 'project', 'plan', 'potential', 'may', 'should', 'expect', 'pending' and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. Attachment Fortescue and sign agreement for ammonia-powered ore carrier CONTACT: Katrien Hennin +32 499393470 in to access your portfolio
BBC News
02-03-2025
- Business
- BBC News
Southampton Port welcomes Fortescue ammonia-powered vessel
The "world's first" dual-fuelled ammonia-powered vessel has arrived in the UK, docking at the Port of Southampton,.The Maritime and Coastguard Agency (MCA) is conducting inspections on The Singapore-flagged vessel in the Hampshire port before it travels to West India Dock in MCA said the vessel was the first of its kind, powered by a four-stroke engine, two of which are capable of being fuelled by ammonia and Minister Mike Kane said: "This is exactly the kind of innovation that will drive forward decarbonisation in the shipping sector." Ammonia is a zero-carbon fuel and has the potential to substantially reduce greenhouse gas emissions when used for shipping. The MCA said an ammonia-powered vessel "exemplifies how shipping can become more sustainable, an ambitious but essential mission fully backed by UK Government".To support Fortescue Green Pioneer's time in the UK, the MCA said the vessel and team have been working closely with it to ensure full compliance with UK regulation. What would net-zero shipping look like?The fuel that could transform shipping MCA director of UK customer services, Lars Lippuner, said Fortescue Green Pioneer "successfully demonstrates what a future of cleaner shipping could look like".Fortescue executive chairman and founder Dr Andrew Forrest said that opportunity "cannot be missed".He added: "Over the coming months, global shipping regulators at the International Maritime Organisation have the chance to fast-track shipping's move away from dirty bunker fuel and embrace real zero fuel standards. "With the right character and leadership, they can chart a course towards a more sustainable future for the planet and advance a dramatic reduction in shipping costs through the widespread adoption and scaling of renewable sources."After the inspections, the vessel will travel to West India Dock in London, operated by Canal and River Trust, to showcase its technology and capabilities to key maritime stakeholders, partners and the public, the MCA said. You can follow BBC Hampshire & Isle of Wight on Facebook, X (Twitter), or Instagram.
