ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it has concluded a joint development agreement (hereinafter the “JDA”) with Mitsui O.S.K. Lines, Ltd. (headquartered in Minato-ku, Tokyo; Takeshi Hashimoto, Representative Director, President and CEO; hereinafter “MOL”) for ammonia bunkering demonstrations.

The International Maritime Organization (IMO) has been discussing a range of issues with its members for achieving the international goal of reducing greenhouse gas (GHG) emissions from international shipping to net-zero by or around 2050. In April this year, a draft for revisions to the convention, including the adoption of a system aimed at converting marine fuel for vessels to alternative fuels with low GHG emissions in phases and a system in which economic incentives are provided for the introduction of zero-emission or nearly zero-emission fuel-powered vessels, was approved internationally as a medium-term measure to achieve the above-mentioned goal. When this framework takes effect, initiatives to supply alternative fuels with low GHG emissions and the introduction of zero emission or nearly zero-emission fuel-powered vessels will be accelerated further.
In addition, with ammonia expected to be used as a zero-emission marine fuel among alternative fuels, many interested maritime stakeholders are considering using ammonia-fueled vessels and facilitating the development thereof. Under this situation, the ammonia bunkering business, which supplies ammonia to ammonia-fueled vessels, serves to boost relationships between the maritime industry and the fuel industry. In particular, ammonia bunkering vessels are drawing attention globally as important facilities in the fuel supply chain that play the last one-mile role.

In June 2025, ITOCHU ordered the world’s first newbuilding 5,000 m³ ammonia bunkering vessel. The vessel will be built by Sasaki Shipbuilding Co., Ltd. in Japan, which is to be flagged under the Singapore Registry and is scheduled to be delivered in 2027. Through conducting ammonia bunkering demonstrations, it aims to establish safe offshore bunkering operation of ammonia as marine fuel. Furthermore, ITOCHU aims to commercialize ammonia bunkering business at key maritime traffic locations in Singapore and other countries worldwide.

MOL will jointly own three ammonia dual-fuel Capesize bulkers* with Belgium-based CMB. TECH NV, which are scheduled to be delivered by China State Shipbuilding Corporation’s Qingdao Beihai Shipbuilding Co., Ltd. between 2026 and 2027. These vessels will be the world’s first ammonia dual-fuel Capesize bulkers, and chartered by MOL.

As the first movers in the field of ammonia bunkering vessels and ammonia-fueled vessels, ITOCHU and MOL will collaborate on joint development initiatives with the aim to carry out the demonstration of ship to ship ammonia bunkering in Singapore by utilizing their owned ammonia bunkering vessel and ammonia dual-fuel Capsize bulkers. Through the demonstrations which is planned to be carried out in the second half of 2027, ITOCHU and MOL aims to promote the early implementation of ammonia bunkering vessels and ammonia-fueled vessels.

ITOCHU has put forth a new management policy, “The Brand-new Deal – Profit opportunities are shifting downstream –” and is pursuing a policy of enhancing its contribution to and engagement with the SDGs through business activities while listening to all stakeholders, including the market, society, and consumers. Going forward, it will continue to promote the Integrated Project of ammonia fueled vessels and work to realize early implementation of ammonia fueled vessels. In doing so, it will contribute to decarbonization in international shipping.