BAKU, Azerbaijan, July 18. ITOCHU Corporation, in collaboration with the Maritime and Port Authority of Singapore (MPA), Nihon Shipyard Co., Ltd., and Nippon Kaiji Kyokai, announced today the execution of a Memorandum of Understanding (MoU) to jointly study the design and safety specifications of ammonia-fueled ships currently under development, Trend reports via ITOCHU.
The MoU outlines plans for the construction of 200,000 deadweight ton class bulk carriers by Nihon Shipyard, featuring ammonia dual-fueled engines. This initiative falls under the “Integrated Project for Development and Social Implementation of Ammonia-Fueled Ships,” which was adopted as part of the “Green Innovation Fund Project / Next Generation Ship Development / Development of Ammonia-Fueled Ships” by the New Energy and Industrial Technology Development Organization (NEDO) in October 2021. The parties involved will work to clarify the specifications required for ammonia bunkering in Singapore to advance the commercialization of ammonia-fueled ships.
ITOCHU’s new management policy, “The Brand-New Deal: Profit Opportunities are Shifting Downstream,” reflects its commitment to the Sustainable Development Goals (SDGs). By engaging with stakeholders including the market, society, and consumers, ITOCHU aims to contribute to a decarbonized society, sustainable local communities, and the reduction of environmental burdens.
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