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Fortescue and CMB.Tech ink ‘landmark’ ammonia deal after IMO agreement

TradeWinds · last updated

Fortescue, an iron ore giant owned by Australian clean fuel evangelist billionaire Andrew “Twiggy” Forrest, urged shipping regulators to show “character and leadership” in decarbonising shipping as it agreed to charter an ammonia-fuelled newcastlemax under construction for Saverys family-controlled CMB.Tech.

In a joint statement early on Monday, the two firms offered no details about how much money and for how long CMB.Tech’s