Mining Magnate To Build First-Ever Ammonia-Powered Cargo Vessel

Andrew Forrest, a mining billionaire, expressed his wishes of developing the world’s first ammonia-powered vessel before the 2022 year-end. This is part of a plan to run his enterprise’s fleet on a carbon-free model.

Forrest, who is also the chairman and founder of Fortescue Metals Group, has reportedly said that his company has nearly 100 ships. They are looking to convert all ships to green ammonia at the earliest within the ongoing decade.

The ship is tiny. It boasts a transportation capacity that is lower than 100th of the size of some of the biggest bulk carriers in the world. Ammonia is often considered to be a cleaner and potential future replacement for all oil-powered marine fuels that currently almost exclusively power shipping.

This announcement was made on the transport day of the ongoing climate summit held at Glasgow – COP26.

Reference: moneyweb.co.za