Business
Yara signs up for two ammonia carriers
Yara signs up for two ammonia carriers
About this update from Fertiglobe Plc
Yara International ASA’s clean ammonia business has signed a long-term shipping contract with Navigator Amon Shipping for two dual-fuel medium gas carriers, the two companies said in a statement Sept. 1, as per Chemweek.Yara Clean Ammonia said the two ships would have a 51,000 cubic meter storage capacity, ammonia dual-fuel engines and ice-class notation. “They will provide reliable, year-round access to Northern Europe while enabling the use of renewable and low-emission fuels,” the statement said.The two new vessels will “reduce freight costs per tonne, strengthen margins, and enhance operational flexibility,” it said.In July, Navigator Gas and Amon Maritime announced the creation of a joint venture to construct two ammonia-fueled carriers for delivery in June and October 2028. The two ships would be “operated under the joint venture pursuant to long-term time charters with a blue-chip industry leader, each for a period of five years from delivery,” the companies said in a statement at the time.Yara Clean Ammonia CEO Hans Olav Raen said the contract “is a logistical and cost-efficient way to move large volumes of ammonia to Europe, reducing operational bottlenecks and delivering economies of scale.”Yara operates the world’s largest fleet of ammonia ships, with up to 15 vessels chartered to ferry volumes between its 18 terminals globally.A significant portion of the Handysize ships in the global ammonia fleet is currently operated by Navigator Gas and is often chartered by significant ammonia players, including Yara, Trammo and Fertiglobe PLC.mrchub.com