Singapore port authority backs project to use ammonia as marine fuel
SINGAPORE, Feb 24 (Reuters) - The Maritime and PortAuthority of Singapore (MPA) has joined an industry-led projectto advance the use of ammonia as a marine fuel to reduce carbonemissions, it said on Wednesday.
Norwegian chemical company Yara International ASA has alsojoined the so-called Castor Initiative and the pair will workwith existing members including Lloyd's Register, Samsung HeavyIndustries and MAN Energy Solutions to develop ammoniapropulsion ships, the MPA said in a statement.
The shipping industry is examining a range of technologiesas it looks to meet a target set by the UN's InternationalMaritime Organization (IMO) of reducing overall greenhouse gasemissions from ships from 2008 levels by 50% by 2050.
At least $1 trillion of investment in new fuel technology isneeded to enable the industry to meet the target, according to astudy published in January.
The MPA, the world's largest bunkering hub, said it wouldhelp the recently formed consortium gather insights on safetyissues and ammonia bunkering procedures, and gain access toresearch capabilities in Singapore.
To meet IMO's 2050 targets, "zero-carbon vessels need toenter the world fleet by 2030," the MPA said.
"Supporting the enabling role of ammonia in the energytransition, we recognise the need for value chain collaborationto make zero emission shipping by using ammonia as a fuel areality," said Magnus Ankarstrand, head of Ammonia at Yara.
The partners hoped their collaboration would spur others inthe industry to explore multiple decarbonisation pathways, thestatement said.
(Reporting by Roslan Khasawneh; editing by Richard Pullin)
