Yara Clean Ammonia (YCA) and Bunker Holding Group, a global supplier of marine fuel based in Denmark, announced on June 22 that they have signed an MOU to collaborate on accelerating the development of the market for clean ammonia as a shipping fuel.
The agreement, which connects a global supplier of clean ammonia and one of the world’s largest bunker suppliers, will cover multiple global geographies and focus on serving First Mover initiatives spanning different regions, the companies said. They also noted that the MOU contributes to several of the UN’s 2030 Sustainable Development Goals.
“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,” said Murali Srinivasan, YCA’s Senior Vice President Commercial. “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.”
“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,” said Valerie Ahrens, Senior Director, New Fuels and Carbon Markets, for Bunker Holding. “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.”