Fortescue, CMB.TECH ink agreement for ammonia-fueled iron ore carrier

Australian mining giant Fortescue Metals Group (FMG) and the CMB.TECH, a Belgium-based shipping company, have signed an agreement to deploy a new ammonia-powered vessel to transport iron ore from Australia's Pilbara region to China and other markets globally, according to press release issued by CMB.TECH on Monday.

The 210,000-deadweight-tonne ammonia-powered Newcastlemax, featuring a dual-fuel engine, is part of CMB.TECH's series of large dry bulk carriers currently on order at China's Qingdao Beihai Shipyard. Under the agreement, the vessel will be delivered to FMG by the end of 2026, according to the release. CMB.TECH CEO Alexander Saverys called