Tomorrow’s fuel – today’s investment object

Ammonia continues to gain ground as a preferred zero-carbon fuel, with two major developments this week highlighting growing confidence in the segment.

Firstly, six major Japanese companies – including shipping heavyweight MOL – have signed an agreement with India’s ACME Group to explore investment in a large-scale green ammonia plant in India. If finalized, the facility could annually produce 400,000 tonnes of renewable ammonia by 2030. The product is expected to serve power generation, fertilizer production, and, increasingly, the maritime sector.

Meanwhile, MOL is also joining forces with Belgium’s CMB. Tech to co-own and operate nine ammonia-capable vessels – the first of their kind in the Capesize bulker and chemical tanker markets. Deliveries are set between 2026 and 2029, and long-term charters are already in place.

Momentum builds around ammonia in maritime transition
Both developments send a strong signal leading industrial and maritime players are actively positioning themselves for an ammonia-fuelled future. This further supports the ammonia value chain and validates early investments in the space.

European Maritime Finance is already exposed to this trend through its portfolio of three Very Large Ammonia Carriers, and we continue to see growing momentum in infrastructure and tonnage as the energy transition advances.