World News
Yara Signs Charter Deal with NYK for Ammonia-Fuelled Carrier
Norwegian ammonia distributor Yara Clean Ammonia has signed a time-charter agreement with Japan's Nippon Yusen Kabushiki Kaisha (NYK) for an ammonia-fuelled medium gas carrier.
The 40,000 m3 capacity gas carrier will be chartered to Yara Clean Ammonia upon delivery in November 2026, Yara Clean Ammonia said in a statement on its website on Monday.
Since 2021, Yara Clean Ammonia and NYK have collaborated on studying the practical application of an ammonia-fuelled ammonia gas carrier.
Engine technology for ammonia-fuelled vessels is advancing steadily, with manufacturers like WinGD leading the way as its ammonia engine testing enters advanced stages, taking shape for commercial application.
The company aims to begin engine deliveries by June 2025, while MAN Energy Solutions is also making progress in ammonia engine development.
"Our successful collaboration with NYK enables us not only to comply with future regulations related to CO₂ emissions from sea-going vessels but also helps us to ensure that our customers can receive carbon-intensity compliant clean ammonia throughout our supply chain from well-to-wake," Murali Srinivasan, SVP Commercial at Yara Clean Ammonia, said in the statement.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 577.50 | 3.00 | 698.00 | 7.50 |
| Rotterdam | 546.00 | 0.00 | 675.50 | 8.00 |
| Houston | 563.00 | 3.00 | 732.00 | 6.50 |
| Fujairah | 570.50 | 4.00 | 761.00 | 3.00 |
| Global 20 Ports Average | 599.00 | 2.00 | 785.00 | 5.50 |
| Global 4 Ports Average | 564.00 | 2.50 | 716.50 | 4.50 |
| Global Average Bunker Price | 643.00 | 0.50 | 826.00 | 2.50 |
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