
9 March 2025
Shipping is responsible for 3% of global emissions. Rapidly increasing globalisation and maritime trade mean this is expected to jump to 8% of global emissions by 2050.
With the maritime industry accounting for more than 80% of world trade (by volume) and an average vessel lifespan of 25-30 years, the time for change is now.
We must change trajectory right now to limit global warming.
Dr Andrew Forrest AO
Founder and Executive Chairman
The UN International Maritime Organisation (IMO) is in the process of making the single most important regulatory change in shipping in our generation.
The early adoption of zero emission fuels such as green ammonia – and the bypassing of transitional fuels such as biofuels and LNG – would be a game-changer for global shipping.
It is an opportunity that cannot be missed.
Ensuring that policy addresses the twin goals of promoting both a timely energy transition and one that is equitable.
Without a clear and effective reward for e-fuels, there is unlikely to be significant investment in e-fuels before 2040.
A meaningful greenhouse gas (GHG) pricing mechanism that supports an accelerated transition.
A much more stringent global fuel standard that is applied to all ships (the IMO only regulates international shipping so this would apply to large vessels only).
Purposeful and meaningful promotion of the early adoption of zero emission fuels, critical to decarbonise global shipping now.
While clear, robust policies from the IMO will be vital in enabling the early adoption of zero emission fuels such as green ammonia, ports and the bunkering ecosystem that support them will be integral to these policies becoming a reality.
Port readiness – or the lack thereof – to store, handle and bunker zero emission fuels will have a significant impact on fuel prices and accessibility.
The Maritime Port Authority of Singapore set a high bar with its willingness to work together with Fortescue to safely conduct ammonia trials in March 2024.
It is now imperative that global ports demonstrate the same leadership and character.
Developed in collaboration with industry leaders, it has achieved key milestones in ammonia-powered propulsion, safety, training, and fuel transfer.
This initiative paves the way for a sustainable shipping future, validating green ammonia as a viable marine fuel and driving the global transition to cleaner energy.
Two of the four engines converted to operate on a dual-fuel ammonia and diesel mix, with conversion completed at Seatrium Shipyard’s Benoi facility in Singapore.
Faced with the reality of our ships pumping out more than 3mt CO2e per year, in 2021 our team got to work on developing a marine engine capable of running on green ammonia.
While Fortescue was ready to move towards a zero-carbon future, neither the technology nor the regulatory environment was ready for such fuels.
The dual-fuel engine we developed was retrofitted into our 75m vessel in the Port of Singapore.
To achieve this milestone, our team worked collaboratively with leading maritime engineers and innovators, and received the strong support provided by the Maritime Port Authority of Singapore, associated agencies and institutions.
In March 2024, the Green Pioneer successfully completed the world’s first dual-fuelled ammonia fuel load and trial in the Port of Singapore.
The vessel received flag approval from the Singapore Registry of Ships and a “Gas Fuelled Ammonia” notation by classification society DNV to use ammonia, in combination with diesel, as a marine fuel.
This breakthrough was the proof that safe, technical solutions for ammonia fuelled vessels existed, initiating and accelerating the development of an ammonia fuel market for maritime.
9 March 2025
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We have an industry-leading plan to decarbonise our iron ore operations (Scope 1 and 2 emissions) to Real Zero by 2030.
Real Zero means the complete elimination of fossil fuels without the voluntary use of offsets.
We are doing this not only because it is the right decision for the planet, but it is the right decision for our shareholders.