- The MOU aims to supply clean ammonia as marine fuel to First Movers in shipping.
- Shipping companies plan to use clean ammonia by 2026 to cut CO2 emissions by up to 100%.
- Yara Clean Ammonia's 2022 revenues and EBITDA were USD 4,422 million and USD 249 million.
- Bunker Holding operates in over 30 countries with 66 offices and 1,650 employees.
Memorandum of Understanding
Yara Clean Ammonia (YCA) and Bunker Holding Group have signed a Memorandum of Understanding (MOU) to explore opportunities for accelerating the supply of ammonia as a marine fuel. This collaboration aims to serve First Movers in the shipping industry along key trade routes and bunkering ports globally.
Global Collaboration
The agreement connects a global supplier of clean ammonia with the largest bunker supplier, covering multiple geographies. The focus is on developing a resilient and robust value chain for clean ammonia as a shipping fuel.
Sustainable Maritime Transport
Ammonia is considered a sustainable solution for decarbonizing maritime transport. By 2026, shipping companies are expected to expand the use of clean ammonia to reduce CO2 emissions by up to 100% on a full life cycle basis. This initiative supports several Sustainable Development Goals, including affordable and clean energy, decent work and economic growth, responsible consumption and production, and climate action.
Key Figures
Yara Clean Ammonia reported revenues of USD 4,422 million and an EBITDA of USD 249 million for the full year 2022. Bunker Holding operates in over 30 countries with 66 offices and more than 1,650 employees, making it a significant player in the marine fuel supply chain.
