CMB.TECH and MOL sign landmark agreement for nine ammonia-powered vessels

CMB.TECH NV (“CMBT”, “CMB.TECH” or “the Company”) has announced that it has signed an agreement with Mitsui O.S.K. Lines, Ltd. (“MOL”) and MOL CHEMICAL TANKERS PTE. LTD. (“MOLCT”) for nine ammonia-powered vessels. These vessels will be among the world's first ammonia-powered Newcastlemax bulk carriers and chemical tankers. The delivery of these ships is expected between 2026 and 2029.

This landmark agreement between MOL/MOLCT, and CMB.TECH involves nine ammonia-powered ships. Three ammonia-fitted 210.000 dwt Newcastlemax bulk carriers currently on order at Qingdao Beihai Shipyard will be jointly owned by CMB.TECH and MOL and chartered to MOL for a period of 12 years each. Six chemical tankers - two ammonia-fitted and four ammonia-ready - have been ordered at China Merchants Jinling Shipyard (Yangzhou) by CMB.TECH and chartered to MOLCT for 10 and 7 years each respectively.

The Newcastlemaxes will be delivered in 2026 and 2027, whilst the chemical tankers’ delivery is expected in 2028 and 2029.

Alexander Saverys, CEO of CMB.TECH said: ”We are proud and honoured to sign this landmark agreement with MOL and MOLCT, one of the most respected shipowners in the world. MOL and CMB.TECH share the same vision of decarbonising the maritime industry, and the partnership for these nine vessels is a major milestone towards achieving shipping industry’s goals of net zero emissions by 2050. Thanks to this agreement, CMB.TECH increases its contract backlog by 921 million USD (to USD 2.94 billion USD), clearly demonstrating that our strategy of fleet rejuvenation, decarbonisation and diversification is yielding tangible results.”