Advancing decarbonized fuel supply business at the world’s largest bunkering ports. NYK Bulkship (Asia) Pte. Ltd. (“NYK Line”), Golden Island Pte. Ltd. (“Golden Island”), and Yara Clean Ammonia Norge AS (“Yara Clean Ammonia”) have concluded a non-binding Term Sheet that paves the way towards a partnership to jointly explore the marketing and supply low-carbon ammonia as a marine fuel to maritime end-users in Singapore.
The partnership represents a major step in enabling ammonia as a zero-or-near-zero-emission (“ZNZ”) marine fuel, in line with Singapore’s broader ambitions to support the shipping community in meeting decarbonization targets.
The partnership combines key knowledge and expertise to form a synergetic foundation. NYK Line will fully leverage its expertise gained through LNG bunkering operations, as well as its operational and technical experience with ammonia carriers and ammonia-fueled vessel projects. Golden Island brings over 40 years of experience in Singapore’s bunkering industry, with a robust customer base and strong capabilities in scheduling and is an essential element of bunkering operations. Yara Clean Ammonia, as one of the global leaders in the ammonia field, possesses unparalleled expertise in ammonia production and handling with strong safety records.
NYK Line, Golden Island, and Yara Clean Ammonia began discussions in the beginning of 2024 to explore the launch of this business, aiming to commence operations within this decade.
“NYK group operates a fleet of more than 900 vessels and recognizes the transition to ZNZ marine fuels as a critical step towards achieving net-zero emissions by 2050. With its potential to significantly reduce greenhouse gas emissions, ammonia is expected to play an important role in the future marine fuel mix. NYK group’s primary objective is to safely establish the infrastructure required to accelerate the adoption and scaling of ammonia-fueled vessels, while taking a leading role through collaboration with experienced industry partners,” says Atsuya Nojiri, Managing Director, NYK Bulkship (Asia) Pte. Ltd.
“Golden Island is pleased to partner with NYK Line and Yara Clean Ammonia to advance the development of clean ammonia bunkering in Singapore. With more than 40 years of experience in Singapore’s bunkering industry, we bring a strong customer network and deep operational expertise in bunker scheduling and supply chain coordination. Over the years, we have supported the industry’s transition through initiatives such as the adoption of VLSFO, biofuels, methanol as marine fuel, and digitalization efforts including electric Bunker Delivery Note. Through this partnership, we look forward to contributing our operational capabilities and high safety standards to support Singapore’s development as a global hub for next-generation marine fuels,” says Johnny Tan, Managing Director, Golden Island.
“This partnership marks an important milestone in realizing our vision of a low-emission ammonia supply chain for new markets. Together with NYK Line and Golden Island, we are developing a last-mile ecosystem that will make low-emission ammonia bunkering available safely and reliably at one of the world’s most critical maritime hubs. Singapore’s leadership in maritime decarbonization makes it a natural starting point for scaling ammonia bunkering globally,” says Murali Srinivasan, SVP Commercial, Yara Clean Ammonia.
Ammonia is gaining attention as a ZNZ fuel that does not emit CO₂ upon combustion, making it a promising alternative marine fuel for the 2030s and beyond in alignment with the International Maritime Organization’s decarbonization goals. With its strategic geographic location, Singapore has established itself as a key maritime hub and the world’s largest bunkering port, supplying approximately one-fifth of the global marine fuel demand. The country has been working closely with industry to support the shipping community in meeting maritime decarbonization targets.
About Yara Clean Ammonia
Yara grows knowledge to responsibly feed the world and protect the planet. Yara Clean Ammonia is uniquely positioned to enable the hydrogen economy in a market expected to grow substantially over the next decades. We aim at significantly strengthening our leading global position as the world’s largest ammonia distributor, unlocking the green and blue value chains, and driving the development of low-emission ammonia globally.
Building on Yara’s leading experience within global ammonia production, logistics and trade, Yara Clean Ammonia works towards capturing growth opportunities in low-carbon fuel for shipping, power generation, low-emission food production and ammonia for industrial applications.
Yara Clean Ammonia operates the largest global ammonia network with 15 ships and has, through Yara, access to 18 ammonia terminals and multiple ammonia production and consumption sites across the world. Revenues and EBITDA for the FY 2025 were 1985 MUSD and 114 MUSD respectively. Yara Clean Ammonia is headquartered in Oslo, Norway.
