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GENCO JOINS AMMONIA FUEL CONSORTIUM

GENCO JOINS AMMONIA FUEL CONSORTIUM

Monday, June 14, 2021 

Genco Shipping & Trading has entered into an initial framework to jointly study the feasibility of ammonia as an alternative marine fuel as part of the objective to decarbonise the global shipping industry in-line with the targets established by IMO.

Including Genco, a total of 23 companies to date have elected to participate in the study ranging from miners, shipbuilders, shipowners, class societies and power utility companies among others. In order to achieve the IMO goals, the early adoption of ammonia as a suitable zero emission, alternative marine fuel is considered one of the key elements.

CEO John C Wobensmithsaid: “Taking steps to decarbonise our essential industry is a critical objective for Genco, and we are pleased to have entered into this joint study together with various blue chip, multi-national companies throughout the maritime supply chain. While there remains quite a bit of work to be done, not only on the development of ammonia fueled vessels but also on the build out of bunkering infrastructure, this joint study is an important and much needed step for the industry. Genco maintains a long-term commitment to reducing emissions and operating our fleet in an environmentally efficient and sustainable manner, and we are proud to participate in this meaningful study.”

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