CMB.TECH and Fortescue Forge Strategic Alliance to Advance Ammonia-Powered Shipping

In a significant step towards maritime decarbonization, Belgium-based CMB.TECH NV has announced a groundbreaking agreement with global metals and energy group Fortescue to charter a 210,000-deadweight ton (dwt) ammonia-powered Newcastlemax vessel. The deal represents a key moment in the industry's shift to zero-emission fuel solutions and cements a two-decade-long partnership between the two companies.

The vessel, currently under construction at Qingdao Beihai Shipyard in China, will feature a dual-fuel engine that can operate on green ammonia. Its delivery is scheduled for late 2026. Once operational, it will transport iron ore from Fortescue’s Pilbara operations in Western Australia to customers worldwide, with a strong focus on Asian markets, particularly China.

Fortescue has committed to achieving Real Zero Scope 1 and 2 emissions across its Australian iron ore operations by 2030, and Net Zero Scope 3 emissions by 2040. As part of that transition, the company is heavily investing in green ammonia and hydrogen. Fortescue’s position diverges from the use of transitional fuels like LNG or biofuels, instead pushing for immediate adoption of zero-emission solutions.

A recent milestone for Fortescue was the introduction of the Fortescue Green Pioneer, the world’s first dual-fuel ammonia-powered vessel. Moored in London since March, it is preparing for a global tour to advocate for green ammonia adoption across major ports and shipping stakeholders.

Dino Otranto, CEO of Fortescue Metals, emphasized the importance of this move: '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 percent of global carbon emissions, are numbered.'

Alexander Saverys, CEO of CMB.TECH, reinforced the shared vision: '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.'

CMB.TECH is a diversified maritime group with a fleet of over 150 vessels, including tankers, dry bulk ships, and specialized offshore units. It is also a key supplier of hydrogen and ammonia fuels through both in-house production and third-party partnerships. Headquartered in Antwerp, the company has a presence in Europe, Asia, Africa, and the United States. CMB.TECH is publicly listed on the Euronext Brussels and NYSE under the ticker CMBT.

Fortescue, meanwhile, is expanding its footprint beyond mining. Its energy division is focused on building a global portfolio of green hydrogen and ammonia projects. The firm is actively seeking to eliminate emissions from its own operations and to drive systemic change in maritime fuel usage.

This agreement between CMB.TECH and Fortescue sets the stage for a broader market transition toward zero-emission shipping. With real-world vessels now being built and deployed, the move from vision to implementation appears well underway.