Tokyo-based ITOCHU Corp. confirmed it recently signed a ship-building contract with Sasaki Shipbuilding Co. for the construction of a 5,000-cubic-foot ammonia bunkering vessel to be located in Singapore. ITOCHU also has penned an agreement for the construction of an ammonia tank plant that will be loaded onto the vessel with Izumi Steel Works.
These agreements were signed by Clean Ammonia Bunkering Shipping (CABS), a wholly owned Singapore-based, specific-purpose company of ITOCHU. CABS also concluded a financing agreement with The Hiroshima Bank for financing a part of the purchase price of the vessel.
The agreements were concluded to pursue the Demonstration Project for Bunkering Ammonia as Marine Fuel in Singapore, adopted by the Ministry of Economy, Trade and Industry in Japan as part of the Global South Future-oriented Co-Creation Project.
The world’s first newbuild ammonia bunkering vessel, which will be flagged under the Singapore Registry, is expected
