In a ground-breaking development, TECO 2030, the renowned Norwegian fuel cell manufacturer has joined forces with Pherousa Green Shipping, an eco-conscious shipping powerhouse also based in Norway. Their mission? To supply hydrogen fuel cells for a fleet of up to six zero-emission dry bulk carriers, each with 63,000 dwt capacity. Each of these impressive vessels is set to feature 12MW fuel cells for primary propulsion, a package totaling around a staggering €23m per ship.
Tracing the Journey Towards Emissions-Free Shipping
Marking a significant step towards creating a truly sustainable shipping industry, this unique collaboration seeks to ensure 100% emission-free operations. The first ship of its kind is scheduled to set sail in the first quarter of 2027. Indeed, TECO 2030 is expected to commence shipping a system of fuel cells to the shipyard as early as 2026, with complete delivery projected for mid-2026.
Bridging Innovation and Sustainability
The revolution does not stop here! The coming years will also see the fuel cell system enter the production stage, slated for the end of 2024. Additionally, this state-of-the-art fuel cell system will be coupled with an innovative ammonia-to-hydrogen converter, courtesy of Pherousa Green Technologies. This ingenious combination provides shipowners with the flexibility to begin with ammonia and transition to hydrogen when they see fit, thus mitigating investment risks.
Navigating the Financial & Contractual Mores
The agreement for this monumental supply is contingent on financing Pherousa’s new vessels and finalizing a supply contract that includes finalizing price negotiations in line with industry norms. The past month witnessed Pherousa signing a letter of intent with OSM Thome to manage the vessels—a partnership that covers drawing approval, project development, and site supervision for the six dry bulk carriers. OSM Thome will oversee the crew and technical management of these groundbreaking vessels.
Serving the Global Copper Industry: A Shared Vision
The focus for the initial fleet of six ultra-max ships is on servicing the global copper industry. Given copper’s crucial role in worldwide decarbonization efforts, this forward-thinking industry has set bold emissions reduction benchmarks. Notably, these goals include the reduction of Scope 3 emissions, which encompass transportation to end users. As we navigate through the 21st century, the shipping industry’s evolution towards sustainability is ever more pressing, and initiatives like TECO 2030 and Pherousa Green Shipping’s joint venture signal a promising future.
