MOL and Yara sign time charter contract for Ammonia Carrier

A time charter contract for the ammonia carrier Green Pioneer has been signed by TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL) and Yara Clean Ammonia Switzerland SA (YCA Switzerland), a group company of Yara International ASA, the largest nitrogen fertiliser manufacturer in the world. The ship was delivered on 25th December 2023, and its primary purpose is to transport ammonia throughout the Pacific.

Although ammonia is currently mostly utilised as a raw material for fertilisers, its application as a hydrogen carrier and as a next-generation clean energy that burns without emitting carbon dioxide is predicted to significantly increase in the next years.

The conclusion of this regular charter contract is one of the accomplishments resulting from the memorandum of understanding that MOL and the Yara Group signed in 2022 concerning decarbonisation projects, including the ammonia area.

Both companies want to establish a long-term collaboration in the clean ammonia industry and actively grow in order to create an ammonia supply chain.

In its management plan “BLUE ACTION 2035,” MOL has made environmental strategy a key component. In “MOL Group Environmental Vision 2.2,” the company has set a target of reaching net zero emissions by the year 2050. By building on its proven track record of providing safe, high-quality ammonia transportation and actively engaging in the entire ammonia value chain, the MOL Group will help bring about a decarbonised society. Ammonia is anticipated to experience significant demand in the future as a result of its introduction as a fuel.

[Green Pioneer Specifications]

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