CMB.TECH signs landmark agreement for nine ammonia-powered vessels

ANTWERP: CMB.TECH NV (NYSE: CMBT & Euronext: CMBT) announced Monday it has entered into an agreement with Mitsui O.S.K. Lines, Ltd. (MOL) and MOL CHEMICAL TANKERS PTE. LTD. (MOLCT) for the construction of nine ammonia-powered vessels.

These ships, which include some of the world’s first ammonia-powered Newcastlemax bulk carriers and chemical tankers, are expected to be delivered between 2026 and 2029.

The deal covers three 210,000-deadweight-ton (dwt) ammonia-fitted Newcastlemax bulk carriers, currently under construction at Qingdao Beihai Shipyard. Jointly owned by CMB.TECH and MOL, the bulk carriers will be chartered to MOL for 12 years each. Additionally, six chemical tankers—two ammonia-fitted and four ammonia-ready—will be built at China Merchants Jinling Shipyard (Yangzhou). These tankers will be chartered to MOLCT, with terms lasting 10 years and seven years, respectively.

The Newcastlemax bulk carriers are scheduled for delivery in 2026 and 2027, while the chemical tankers will be completed in 2028 and 2029.

“This agreement marks a significant step forward in the decarbonization of the maritime industry,” said Alexander Saverys, CEO of CMB.TECH.

“We are honored to partner with MOL and MOLCT, two globally respected shipping leaders, in pursuing the shared vision of achieving net-zero emissions in shipping by 2050. This partnership also strengthens our contract backlog, which now totals $2.94 billion, highlighting the success of our fleet rejuvenation, decarbonization, and diversification strategy.”

The collaboration is set to advance innovation in green shipping, reinforcing commitments to sustainable maritime operations and contributing to global emission reduction goals.