MOL and Belgium based CMB Tech have recently announced a significant partnership aimed at deploying the world’s first ammonia dual fuel Capesize bulk carriers and chemical tankers. This collaboration involves a total of nine vessels, including ammonia-powered dual-fuel ships, which will be jointly owned and operated by MOL and its subsidiary MOL Chemical Tankers. The fleet comprises three ammonia-powered dual-fuel bulk carriers and six ammonia-ready chemical tankers, with deliveries scheduled for 2026-2029. These vessels are expected to contribute to reducing greenhouse gas emissions in the shipping sector. Additionally, MOL has secured long-term charter agreements for the vessels, with the bulk carriers under 12-year contracts and the chemical tankers under 10 and seven-year contracts. The partnership is in line with MOL's environmental vision to achieve net zero greenhouse gas emissions by 2050. The agreement has also positively impacted CMB Tech’s financials, increasing its contract backlog significantly. Furthermore, investment bank Fearnley Securities has highlighted the potential of the Newcastlemax bulk carrier order to enhance earnings and optimize capital expenditures, strategically timed to align with CMB Tech's existing financial commitments. MOL's involvement in this project demonstrates a proactive approach towards environmental sustainability within the maritime industry. Both companies, MOL and CMB Tech, have a strong presence in the shipping industry, with MOL operating a vast fleet of stainless steel chemical tankers and CMB Tech managing a diverse fleet of over 150 vessels. Notably, CMB Tech has shown a commitment to investing in hydrogen and ammonia fuel technology, further emphasizing the shift towards alternative fuels and sustainable practices in the maritime sector.