CMB.TECH NV (NYSE: CMBT & Euronext: CMBT) (“CMB.TECH” or the
“Company”) has signed an agreement with Fortescue to
charter a new ammonia-powered vessel. This emphasises
the commitment of both companies to decarbonise the shipping
industry. This 210,000-dwt ammonia-powered Newcastlemax will
feature a dual fuel engine and is expected to be delivered by the
end of 2026.
Fortescue and Bocimar, part of CMB.TECH, have
signed an agreement for an ammonia-powered Newcastlemax featuring a
dual fuel engine. The 210,000-dwt vessel is part of CMB.TECH’s
series of large dry bulk carriers currently on order at Qingdao
Beihai Shipyard and is expected to be delivered to Fortescue by the
end of next year. It will play a vital role taking iron ore from
the Pilbara to customers in China and around the
world. While Fortescue is committed to eliminating
Scope 1 and 2 emissions from its Australian iron ore operations by
2030, its target of Net Zero Scope 3 emissions by 2040 reflects the
challenge of eliminating emissions from the shipping of its
products to customers and from steelmaking.
Fortescue has taken a global leadership position
by advocating for the early adoption of zero emission fuels such as
green ammonia, widely accepted as the long-term solution, and the
bypassing of transitional fuels such as biofuels and LNG.
The Fortescue Green Pioneer, the world's first
dual-fuel ammonia-powered vessel, has been in London since early
March and will soon embark on a tour of global ports to bring
attention to the need for a hastened transition to zero emissions
fuels.
Fortescue Metals CEO Dino Otranto said:
“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 per cent
of global carbon emissions, are numbered. We continue to implore
shipping regulators to show the character and leadership that is
necessary to ensure this happens sooner rather than later. Our
agreement with Bocimar is just the beginning. Through the Fortescue
Green Pioneer we have demonstrated that the technology to
decarbonise shipping exists now. We will continue to work with
like-minded companies like Bocimar to transition our fleet to low
and zero-emissions vessels and help accelerate the widespread
adoption of green ammonia as a marine fuel.”
Alexander Saverys, CEO of CMB.TECH said:
"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. This is the beginning of an exciting journey to
build more ammonia-powered ships that will stimulate more green
ammonia production projects. We need to decarbonise today to
navigate tomorrow."
Announcement first quarter 2025 results
– 14 May 2025
About CMB.TECH
CMB.TECH is a diversified and future-proof
maritime group. We own and operate more than 150 seagoing vessels:
crude oil tankers, dry bulk vessels, container ships, chemical
tankers, offshore wind vessels & workboats. We also offer
hydrogen and ammonia fuel to customers, through own production or
third-party producers.
The company is headquartered in Antwerp,
Belgium, and has offices across Europe, Asia, United States and
Africa.
CMB.TECH is listed on Euronext Brussels and the
NYSE under the ticker symbol CMBT.
More information can be found at
https://cmb.tech
About Fortescue
Fortescue is the technology, energy and metals
group accelerating the commercial decarbonisation of industry,
rapidly, profitably and globally. The metals business comprises
iron ore operations in the Pilbara, Western Australia as well as a
pipeline of exploration projects globally in Africa, Latin America
and Australia. By 2030, they aim to have their Australian iron ore
operations running on green energy, achieving Real Zero Scope 1 and
2 terrestrial emissions. Their Energy business is building a global
portfolio of renewable green hydrogen and green ammonia projects
and developing green technology solutions. As their business
develops globally, their commitment to building thriving
communities expands withthem. Delivering positive social and
economic change through training, employment and business
development opportunities is a key focus.fortescue.com
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words “believe”, “anticipate”, “intends”, “estimate”, “forecast”,
“project”, “plan”, “potential”, “may”, “should”, “expect”,
“pending” and similar expressions identify forward-looking
statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, our management's examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections.
In addition to these important factors, other
important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the failure of counterparties to fully perform
their contracts with us, the strength of world economies and
currencies, general market conditions, including fluctuations in
charter rates and vessel values, changes in demand for tanker
vessel capacity, changes in our operating expenses, including
bunker prices, dry-docking and insurance costs, the market for our
vessels, availability of financing and refinancing, charter
counterparty performance, ability to obtain financing and comply
with covenants in such financing arrangements, changes in
governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation,
general domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessels breakdowns and instances of off-hires and other factors.
Please see our filings with the United States Securities and
Exchange Commission for a more complete discussion of these and
other risks and uncertainties.
- Fortescue and CMB.TECH sign agreement for ammonia-powered ore
carrier
Katrien Hennin
CMB.TECH
+32 499393470
katrien.hennin@cmb.tech
CMB TECH NV (NYSE:CMBT)
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