In the UK, Navigator Gas has launched a joint venture with Norway’s Amon Maritime to build two ammonia-fueled liquefied gas carriers, a calculated bet on the fuel’s role in decarbonizing global shipping. The company will hold 80% of the new Norwegian entity, Navigator Amon Shipping AS, with Amon holding the rest.
The ships, to be built by Nantong CIMC Sinopacific Offshore & Engineering, will each carry over 51,000 cubic meters of ammonia or LPG. Delivery is slated for mid and late 2028. Each of the $84 million vessels have secured NOK 90 million ($9 million) in grants from Norway’s climate innovation agency Enova, and will be backed by five-year time charters with a blue-chip operator.
Navigator CEO Mads Peter Zacho called the ships “a strategic enabler” in the push for sustainable fuels, adding that they’ll meet both current and future environmental rules. Amon’s André Risholm, whose company has staked its identity on ammonia, said the project fulfills its founding mission.
Financing will come mostly from commercial lenders, with equity contributions shared between the partners. Navigator expects its share to be earnings-accretive and funded from existing cash. For both firms, it’s a tangible bet that ammonia shipping is moving from theory to tonnage.
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Category: Sustainable Marine Fuels
