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Wednesday, 02/07/2025, 15:00 (GMT +7)
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BHP Signs Charter Deal with COSCO for Ammonia-Powered Newcastlemax Vessels
Mining giant BHP has officially signed a contract with COSCO Shipping to charter two ammonia dual-fuel Newcastlemax bulk carriers. Scheduled for delivery starting in 2028, the move aims to reduce emissions by up to 95% on strategic iron ore transport routes.
BHP headquarters in Melbourne, Australia (Source: REUTERS/Hollie Adams)
Australian mining titan BHP announced on Wednesday that it has signed a contract with China’s COSCO Shipping to charter two Newcastlemax bulk carriers utilizing ammonia dual-fuel technology. This is seen as a strategic move to materialize its commitment to decarbonizing the maritime supply chain.
Contract Details and Operational Roadmap
Under the agreement, the two vessels are scheduled for delivery commencing in 2028 and will be chartered for a five-year period. The fleet's primary mission will be transporting iron ore from Western Australia to key markets in Northeast Asia.
The selection of Newcastlemax vessels (the largest class capable of entering the port of Newcastle, Australia) combined with dual-fuel technology demonstrates BHP's determination to optimize transport efficiency while prioritizing environmental protection.
Impressive Emission Reduction Efficiency
According to BHP, these vessels have the potential to reduce greenhouse gas (GHG) emissions by at least 50% and up to 95% per voyage compared to those using conventional fuels, provided they operate on low-to-zero emission ammonia.
Previously, the mining group shared with Reuters its plans to take delivery of its first ammonia-powered bulk carrier as early as 2026, as part of its broader strategy to cut shipping emissions.
Currently, ammonia ranks among the potential alternative fuels that shippers and carriers are actively exploring to decarbonize, although widespread adoption will require time to scale up the necessary infrastructure and technology.
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