U-Ming Marine Transport (S) Pte Ltd (U-Ming) announced today that it has signed a Memorandum of Understanding (MoU) with ITOCHU Corporation  to explore discussions on jointly owning and operating ammonia dual-fuel bulk carriers.

Leveraging U-Ming's experience and expertise, the collaborative efforts with ITOCHU are expected to play a leading role in driving decarbonisation in international shipping. U-Ming’s understanding, implementation, and commercialisation of dual fuel technology has allowed the company to build strong relationships with major shippers, shipyards, and shipping companies which will play a key role in advancing ammonia as a fuel.

In addition to the four owned LNG dual-fuel Capesize bulk carriers, U-Ming is presently undertaking feasibility studies regarding the installation of rotor sails, carbon capture system and the retrofitting of traditional oil fuel systems to methanol dual-fuel on its fleet. These initiatives aim to significantly diminish the carbon footprint across its existing fleet.

The MoU signing is part of ITOCHU’s "Integrated Project”, which aims to lower greenhouse gas emissions by developing ammonia dual-fuel ships and establishing a global ammonia supply chain with industry partners. This will further enable ITOCHU to accelerate the construction of sustainable energy systems, contribute to the realisation of a low-carbon society, and reduce the burden on the global environment.