Itochu, Orascom sign MoU to develop ammonia bunkering in Suez Canal
SUMMARY
Itochu has already been promoting the development of ammonia bunkering in Singapore and Spain.
By Shardul SharmaItochu Corporation, a leading Japanese trading company, and Orascom Construction, a global engineering and construction contractor, have signed a memorandum of understanding (MOU) to jointly develop ammonia bunkering in the Suez Canal, Itochu said on October 25.
“This MoU is an important milestone in the adoption of ammonia as a marine fuel and a necessary step toward the realisation of the proposed integrated project, consisting of the construction of a global ammonia supply chain and the development of ammonia-fueled ships by Itochu and its partner companies,” the company said.
Ammonia is a promising zero-emission marine fuel that can help the maritime industry to decarbonise. The development of ammonia bunkering hubs in key strategic locations, such as the Suez Canal, is essential to its widespread adoption.
Itochu has already been promoting the development of ammonia bunkering in Singapore and Spain. The company said it will concurrently drive the development of ammonia bunkering hubs in various European ports, the Panama Canal, Japan and other key areas in the international maritime logistics network.
