MOL Announces Conclusion of Joint Development Agreement with ITOCHU Corporation for Ammonia Bunkering Demonstration

August 19, 2025

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto, Headquarters: Minato-ku, Tokyo) today announced that it has concluded a joint development agreement (hereinafter the "JDA") with ITOCHU Corporation (ITOCHU; President & COO: Keita Ishii; Headquarters; Minato-ku, Tokyo) for ammonia bunkering demonstrations.

As the first movers in the field of ammonia bunkering vessels and ammonia-fueled vessels, MOL and ITOCHU will collaborate on joint development initiatives with the aim to carry out the demonstration of ship to ship ammonia bunkering in Singapore by utilizing their owned ammonia bunkering vessel and ammonia dual-fuel Capesize bulkers. Through the demonstrations which is planned to be carried out in the second half of 2027, MOL and ITOCHU aim to promote the early implementation of ammonia bunkering vessels and ammonia-fueled vessels.

The International Maritime Organization (IMO) has been discussing a range of issues with its members for achieving the international goal of reducing greenhouse gas (GHG) emissions from international shipping to net-zero by or around 2050. In April this year, a draft for revisions to the convention, including the adoption of a system aimed at converting marine fuel for vessels to alternative fuels with low GHG emissions in phases and a system in which economic incentives are provided for the introduction of zero-emission or nearly zero-emission fuel-powered vessels, was approved internationally as a medium-term measure to achieve the above-mentioned goal. When this framework takes effect, initiatives to supply alternative fuels with low GHG emissions and the introduction of zero emission or nearly zero-emission fuel-powered vessels will be accelerated further.

In addition, with ammonia expected to be used as a zero-emission marine fuel among alternative fuels, many interested maritime stakeholders are considering using ammonia-fueled vessels and facilitating the development thereof. Under this situation, the ammonia bunkering business, which supplies ammonia to ammonia-fueled vessels, serves to boost relationships between the maritime industry and the fuel industry. In particular, ammonia bunkering vessels are drawing attention globally as important facilities in the fuel supply chain that play the last one-mile role.

MOL will jointly own three ammonia dual-fuel Capesize bulkers with Belgium-based CMB.TECH NV, which are scheduled to be delivered by China State Shipbuilding Corporation's Qingdao Beihai Shipbuilding Co., Ltd. between 2026 and 2027. These vessels will be the world's first ammonia dual-fuel Capesize bulkers, and chartered by MOL.

ITOCHU ordered the world's first newbuilding 5,000 m³ ammonia bunkering vessel in June 2025. The vessel will be built by Sasaki Shipbuilding Co., Ltd. in Japan, which is to be flagged under the Singapore Registry and is scheduled to be delivered in 2027. Through conducting ammonia bunkering demonstrations, it aims to establish safe offshore bunkering operation of ammonia as marine fuel. Furthermore, ITOCHU aims to commercialize ammonia bunkering business at key maritime traffic locations in Singapore and other countries worldwide.

Amid the trend toward decarbonization, ammonia is drawing worldwide attention as a next-generation clean energy source, and the ocean shipping industry is accelerating its moves to strategically utilize ammonia as a fuel. The MOL Group also intends to adopt ammonia, as shown in the chart below, in its "MOL Group Environmental Vision 2.2" to achieve net-zero GHG emissions by 2050. MOL will continue to pursue these initiatives and contribute to the realization of a decarbonized society.

Remark: Please refer the past press release.
MOL Deploys the World's First Ammonia-fueled Capesize Bulkers and Chemical Tankers | Mitsui O.S.K. Lines

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MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision.
We anticipate this initiative to contribute especially to the realization of "Environment -Conservation for Marine and global environment-" and "Innovation -Innovation for development in marine technology-".