SINGAPORE (Reuters) – The Singapore Maritime and Port Authority (MPA) has teamed up with an industry-led project to promote the use of ammonia as a marine fuel to reduce carbon emissions, it said Wednesday.
Norwegian chemical company Yara International ASA has also joined the so-called Castor venture and the pair will work with existing members including Lloyd’s Register, Samsung Heavy Industries and MAN Energy Solutions to ship improve ammonia movement, the MPA said in a statement.
The shipping industry is exploring a range of technologies with a view to meeting a target set by the International Maritime Organization of the DA (IMO) to reduce greenhouse gas emissions from vessels from 2008 levels by 50% by 2050.
At least $ 1 trillion in investment is needed in new fuel technology to allow the industry to meet its target, according to a study published in January.
The MPA, the world’s largest bunkering center, said it would help the recently formed consortium gather views on safety issues and ammonia bunkering methods, and gain access on research capabilities in Singapore.
To meet the 2050 IMO targets, “zero carbon vessels must enter the global fleet by 2030,” the MPA said.
“Supporting the enabling role of ammonia in energy transfer, we recognize the need for value chain collaboration to make zero emission shipping using ammonia as fuel a reality,” said Magnus Ankarstrand, head of Ammonia at Yara.
Participants hoped their collaboration would inspire others in the industry to explore multiple disarmament pathways, the statement said.
Reciting with Roslan Khasawneh; edited by Richard Pullin