Singapore conducts research on supply chain of ammonia as marine fuel
Itochu Corporation and Itochu Enex Co., Ltd agreed with Vopak Terminal Singapore (PTE) Ltd to conduct research on building a supply chain for ammonia as a marine fuel. The International Marine Organization (IMO), a specialized agency of the United Nations dealing with shipping, aims to reduce greenhouse gases by 40% by 2030 and by 50% by 2050 from 2008. The shipping industry is putting in various efforts to work towards this goal. Ammonia, which does not emit greenhouse gases, is gaining attention as an alternative marine fuel.
Under the agreement among the three companies, Itochu Corporation will promote the development of an international network for constructing infrastructures and supplying ammonia fuel. Itochu Enex will be responsible for research on the network for supplying ammonia fuel to vessels in Singapore. Vopak Terminal Singapore (PTE) Ltd, will conduct research and development of onshore facilities related to ammonia fuel storage and shipments. The company the Singapore arm of Royal Vopak (Rotterdam in the Netherlands), the world's leading logistics and sales company for petroleum and chemical products.