Euronav, CMB.TECH unveil future plans for an ammonia-powered fleet
By on February 14, 2024
International crude oil giant to merge with CMB.TECH
Click to expand. Already delivered hydrogen and ammonia-ready vessels in CMB.TECH’S fleet. Source: Euronav/CMB.TECH Capital Markets Day, 12 Jan 2024.
Speaking at a recent capital markets day, Euronav executives provided further details for their organisation’s long-term decarbonisation strategy. Traditionally a pure-play crude oil business, Euronav will shift its focus to fleet rejuvenation, a “future-proof” new building program and diversifying to include new energy commodities. Euronav and CMB.TECH will merge to form a “new” CMB.TECH, which Euronav CEO Alexander Saverys says will operate a fleet of nearly one-hundred ammonia-fueled vessels and be considered “the reference in sustainable shipping”.
Click to expand. Current and future fleet composition for CMB.TECH. Source: Euronav/CMB.TECH Capital Markets Day, 12 Jan 2024
The new CMB.TECH will focus on hydrogen fuel for small ships, and ammonia fuel for larger ships. As shown on the left, 83 hydrogen-fueled ships (a mixture of tugboats, crew transfer vessels or “Hydrocats”, Commissioning service operation vessels and 5,000 dwt tankers) will be joined by 99 ammonia-fueled ships (Ultramaxes, container vessels, long-range tankers and 25,000 dwt chemical tankers). Five of these ammonia-fueled vessels have already hit the water, including the CMA CGM Masai Mara, the Bochem Houston, the Mineral Belgie and the Mineral Nederland.
Ammonia fuel production in Namibia
Click to expand. Phase 2 of the Namibian ammonia fuel production project – an import/export terminal in Walvis Bay. Source: Euronav/CMB.TECH Capital Markets Day, 12 Jan 2024.
The presentation also included further details on CMB.TECH’s under-development fuel production project in Namibia, which was launched in 2022. The four-phase project will be built at Walvis Bay on Namibia’s coast. By the end of 2025, 5 MW of solar and a 5 MW battery energy storage system (BESS) will produce 4 tonnes per day of ammonia fuel. This will scale one hundred-fold by 2028, with a near-1 GW solar park powering the production of 185,000 tonnes of ammonia fuel per year. In parallel to this scaling-up, an ammonia import/export terminal will be built and integrated with an existing LNG-transfer jetty at the site (including 40,000 m3 of ammonia storage tanks). Further production capacity scale-up is anticipated.
CMB subsidiary Delphis is part of the Yara Eyde containership project, while CMB.TECH and engine developer WinGD have already formalised a partnership to develop & deploy ammonia-fueled 2-stroke engines.