NYK and Uyeno Group join to speed up ammonia-fuelled shipping

Japanese shipping company NYK has acquired a 10% stake in tanker operation firm Uyeno Transtech. The duo intends to collaborate towards meeting the Japanese government's plan to make ammonia a prominent fuel in the shipping industry by 2050.

PHOTO: A model of the ordered dual fuel VLGC. NYK

Uyeno, which partnered with Japanese trading house Itochu last year, has already set out plans to develop an ammonia supply chain in the country. Itochu will be supplying the fuel and developing an onshore supply facility.  

NYK has been carrying out projects to make ammonia-fuelled engines in Japan, with the help of the Japanese government’s Green Innovation funds. It plans to take delivery of two dual-fuel LPG-ammonia VLGC’s by 2024.

Last year, the Japanese government announced ambitious plans to increase the country's total annual use of ammonia to 30 million mt by 2050, from the current 1 million mt.