CMB.Tech (formerly Euronav), Mitsui OSK Lines (MOL), and MOL Chemical Tankers have signed agreements for nine newbuildings, which will be among the world’s first ammonia-powered capesize bulkers and chemical tankers.

CMB.Tech and MOL will jointly own three ammonia-fitted 210,000 dwt Newcastlemax bulk carriers on order at Qingdao Beihai Shipyard, vessels which will be charted by MOL for 12 years each on delivery in 2026 and 2027. Six chemical tankers have also been ordered at China Merchants Jinling Shipyard (Yangzhou), two fitted with ammonia capable engines and four ammonia-ready vessels, with 10-year charters with MOL Chemical Tankers for the ammonia capable ships and seven-year charters for the ammonia-ready vessels. The chemical tankers are expected to be delivered in 2028 and 2029.

The orders will come as a boost for ammonia-powered vessels in the orderbook, with the alternative fuel accounting for just 0.67% of newbuilds on order by gross tonnage as at the end of February 2025, and 0.46% by ship numbers, according to DNV data.

Alexander Saverys, CEO of CMB.Tech said: ”MOL and CMB.Tech share the same vision of decarbonising the maritime industry, and the partnership for these nine vessels is a major milestone towards achieving the shipping industry’s goals of net zero emissions by 2050. Thanks to this agreement, CMB.TECH increases its contract backlog by $921m (to $2.94bn), clearly demonstrating that our strategy of fleet rejuvenation, decarbonisation and diversification is yielding tangible results.”

Earlier this month, CMB.Tech announced it was buying $1.18bn of shares in dry bulk owner Golden Ocean from John Fredriksen’s Hemen Holdings, giving the Belgian company a 40.8% stake in the company.