Japan-based shipowner signs a memorandum of understanding to purchase a zero-carbon ship engine being developed by MAN Energy Solutions
Agreement is expected to further instil confidence in the German engine maker, which is working on projects aimed at delivering ammonia-fuelled engines by 2024.
MITSUI OSK Line intends to purchase an ammonia-fuelled main engine being developed by German manufacturer MAN Energy Solutions.
The two companies, along with Mitsui E&S Machinery, have signed a memorandum of understanding on a potential deal.
“MOL aims to order an ammonia-fuelled main engine, a pioneer engine of net-zero emission vessels aligned under this agreement, and to contribute to the realisation of a decarbonised society,” the Japanese shipping group said.
In an email response, MOL added that the order will be for a two-stroke engine planned to be installed on an ocean-going vessel.
The company — an all-round shipowner and operator whose businesses range from bulkers, containerships to ro-ro ships and gas carriers — has pledged to reach net-zero greenhouse gas emissions by 2050.
That target is more ambitious than the current long-term decarbonisation goal set by the International Maritime Organization.
Developing ammonia-fuelled ships is part of the industry’s efforts in fighting against global warming.
The agreement is expected to further instil confidence in MAN Energy Solutions, which is working on projects aiming to deliver ammonia-fuelled engines by 2024.
Class society DNV has estimated that ammonia will have a 30% share of the maritime fuel market by 2050.
In a recent interview with Lloyd’s List, Hoegh Autoliners chief executive Andreas Enger said ammonia was the most realistic deepsea fuel choice that the industry can make today if it wants to future-proof orders.