Ammonia-ready vessels making up over 10% of global orderbook
The ammonia segment has seen notable progress this January, reinforcing its potential as a key marine fuel. Ammonia’s ability to enable zero-emission shipping when produced from green hydrogen has made it a popular choice among shipowners. Currently, 10.4% of the global orderbook is ammonia-ready according to Green Technology Tracker, showing strong industry interest in this fuel.
WinGD ammonia engine set for summer unveiling
This month, Swiss engine manufacturer WinGD announced that its ammonia-ready engine will be ready by summer 2025, marking an important step toward emission-free shipping. MAN Energy Solutions and Wärtsilä are working on similar engines, driving further progress.
Potential for tremendous long-term cost-effectiveness
In the latest estimates by Transport & Environment (2024), ammonia is expected to become one of the most cost-effective marine fuels. While VLSFO remains the cheapest option today, e-ammonia could rival conventional fuels by the second half of the 2030s, supported by GHG regulations and incentives for green shipping.
These advancements highlight ammonia’s potential as a practical solution for achieving sustainable, zero-emission shipping in the near future.
2001-built, used VLGC fetches $48m
Clarksons recorded a sale of a 2001-built non-eco VLGC for an impressive $48 million in late January. This transaction highlights the liquidity and value retention in the second-hand LPG vessel market, offering reassurance to investors about the market’s stability and attractiveness.
Source: Shippingwatch, Transport & Environment (2024).
