MOL Signs Charter Contract with Yara for Ammonia Carrier

Japanese shipping major Mitsui O.S.K. Lines has signed a time charter contract for the ammonia carrier Green Pioneer with Yara Clean Ammonia Switzerland, a group company of Yara International.

The vessel was delivered on December 25,2023 and is expected to be engaged in the transportation of ammonia, mainly in the Pacific region.

Ammonia is now mainly used as a raw material for fertilizers, but it is expected to see a significant increase in demand in the future as a next-generation clean energy that does not emit carbon dioxide when burned, such as mixed burning in coal-fired power plants and use as a hydrogen carrier.

MOL and Yara Group have been working together since the signing of a memorandum of understanding on decarbonization projects including ammonia area in 2022, and the conclusion of this regular charter contract is one of the achievements resulting from that agreement, the companies said.

Both companies aim to build a long-term partnership in the clean ammonia field and actively expand their business to build an ammonia supply chain.

The Green Pioneer was built in 2010 at Hyundai Mipo Dockyard, and has a cargo tank capacity of 34,500 m3.