Fortescue and Cosco to collaborate on ammonia fuel supply chain

Under the MoU both companies will collaborate on developing technologies to lower emissions and build a green fuel supply chain. This includes exploring the construction and deployment of Cosco Shipping vessels, or co-owned vessels, powered by green ammonia, to ship iron ore and other mineral products with the aim of reducing Australia-China Iron Ore Green Shipping Corridor’s carbon emissions.

“The shipping industry plays a vital role in global trade however also contributes significantly to the world’s carbon emissions. This collaboration marks a significant step in decarbonising the shipping industry and establishing a green fuel supply chain,” Fortescue Metals CEO, Dino Otranto said.

“It also paves the way for collaboration on a variety of decarbonisation solutions which we believe will be integral to delivering on our ambitious target of net zero Scope 3 emissions by 2040.”

Lin Ji, Executive Vice President of Cosco Shipping, said “Cosco Shipping is committed to green and low carbon as one of the two major development tracks, increasing cooperation with global partners, joining hands to jointly build a digital, green, open, shared and safe industry development ecosystem, and actively promoting the sustainable development of green and low carbon in the entire life cycle of the shipping industry.”

Related:Fortescue Green Pioneer completes propulsion and manoeuvrability trials

This collaboration builds on Fortescue’s research and development to decarbonise shipping through the use of ammonia as a marine fuel.

 In March 2024, the Fortescue Green Pioneer received the world’s first certification to use ammonia in combination with diesel as a marine fuel. The vessel has successfully completed propulsion and manoeuvrability trials in the port of Singapore.