The JDP, first unveiled in January 2020 and now named The Castor Initiative, includes partners MISC, Lloyd’s Register (LR), Samsung Heavy Industries (SHI), and MAN Energy Solutions (MAN).
The addition of MPA and fertilizer firm Yara means that the alliance now has a complete representation from all areas of the maritime ecosystem.
“Supporting the enabling role of ammonia in the energy transition, we recognise the need for value chain collaboration to make zero emission shipping by using ammonia as a fuel a reality,” said Magnus Ankarstrand, executive vice president clean ammonia, Yara.
To meet the IMO 2050 ambitions on halving greenhouse gas (GHG) emissions from 2008 levels, zero-carbon vessels need to enter the world fleet by 2030. The JDP was motivated by the partners’ shared belief that the maritime industry needs leadership and greater collaboration if shipping is to meet the IMO’s GHG ambitions.
While ammonia is one of the fuels being considered by maritime stakeholders, the partners also recognise that the shipping industry will need to explore multiple decarbonisation pathways and hope their collaboration will spur others in the maritime industry to join forces on addressing this global challenge.
Quah Ley Hoon, chief executive of MPA, said, “Decarbonisation remains a key priority for the maritime sector, not just in Singapore but globally. As a transhipment and bunkering hub, we are committed to meet IMO2030/2050 decarbonisation goals. We are also looking forward to collaborating with like-minded industry partners to support the development and trials of alternative future marine fuels such as ammonia.”
This announcement follows a key project milestone in September 2020 when LR awarded approval-in-principle to SHI for its ammonia-fuelled tanker design with the aim of commercialising these developments by 2024.