Page 106 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - SEPT 2025
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International waters
Founding participants include some of the In a groundbreaking that the joint venture will finance the
most prominent names in the industry, development for majority of the purchase price of the ves-
including Cargill, Frontline, Hafnia, Hap- the global marine fuels sels through commercial bank finance,
ag-Lloyd, Mercuria, Minerva Bunkering, industry, leading with the remainder sourced from capital
Oldendorff Carriers, GmbH & Co. KG, shipping and bunkering contributions by Navigator and Amon
Trafigura, TFG Marine, Unifeeder, companies have come Maritime. Navigator expects to finance
and Vitol, as well as other key players together to launch its share of the capital contributions
in the energy and shipping sectors. a Bunkering Services from available cash resources, and these
The concept is uniquely designed to Initiative focused investments are expected to be accre-
be self-regulating, leveraging powerful on solving the widely tive to the company’s earnings.
data-driven insights to monitor partici- reported issues of fuel
pant behaviour and adherence to stand- quantity shortages and CMA CGM invests in clean tech
ards – thereby advancing the objectives fuel quality opacity company
of regulatory authorities without requir- across the marine fuel Hycamite TCD Technologies Ltd
ing their administration. supply chain. Founding announced CMA CGM, a global player in
The initiative defines a new gold stand- participants include some sea, land, air, and logistics solutions, as a
ard of technology-enabled bunkering of the most prominent new investor.
operations, with seamless integration names in the industry, Hycamite, a pioneering clean tech com-
of mass flow meters, digitalised work- including Cargill, pany committed to decarbonizing indus-
flows over the blockchain, traceable Frontline, Hafnia, Hapag- try, is set to begin operations in 2025 at
fuel quality measurements throughout Lloyd, Mercuria, Minerva its recently completed industrial-scale
the supply chain, full accounting Bunkering, Oldendorff methane-splitting plant in Kokkola, Fin-
of quantity balances, and real-time Carriers, GmbH & Co. KG, land, the largest in Europe. This break-
reporting to participants. Trafigura, TFG Marine, through technology produces low-carbon
Unifeeder, and Vitol. hydrogen and high-value solid carbon
Navigator Gas announces products from methane. Scalable and
a joint venture with Amon adaptable to market needs, it enables
Maritime for the construction low-carbon production of critical materi-
of two new ammonia gas als and can be deployed globally, close to
carriers industrial end-users. Hycamite’s graph-
Navigator Holdings Ltd., the owner and ite production capability was recognized
operator of the world’s largest fleet of earlier this year by the European Commis-
Handysize liquefied gas carriers, has sion as one of 47 strategic projects under
entered into a joint venture with Amon the Critical Raw Materials Act (CRMA).
Maritime. “We are excited to welcome CMA CGM,
Pursuant to the joint venture, Navigator through its energy fund PULSE, as a
will acquire approximately 80% of the strategic investor. As a global player in
joint venture company, Navigator Amon container shipping with a diversified port-
Shipping AS, of Norway, with Amon Mar- folio, CMA CGM’s investment will accel-
itime holding approximately 20%, sub- erate Hycamite’s efforts to decarbon-
ject to the investment terms and condi- ize maritime transport and support the
tions. The joint venture aims to construct industrial scaling of our technology more
two new 51,530 cubic metres capacity broadly. Since 2022, Hycamite has been
ammonia-fuelled liquefied ammonia advancing its marine application through
carriers, which will also be capable of a development programme partly funded
carrying liquefied petroleum gas. by Business Finland. Now, with Kokkola
The joint venture has entered into con- CSF operations to commence shortly,
tracts with Nantong CIMC Sinopacific our innovative technology is poised to
Offshore and Engineering Co., Ltd. to transform maritime transportation and
build the vessels, with deliveries sched- other hard-to-abate sectors worldwide.
uled to take place in June and October CMA CGM’s investment signals growing
2028, respectively, at an average price international interest in our technology,”
of $84 million per vessel. Notably, each says Laura Rahikka, CEO of Hycamite.
of the vessel projects has been awarded “CMA CGM’s support will fast-track the
a NOK 90 million (approx. $9 million) development and adoption of our multi-
investment grant by the Norwegian gov- ple methane-splitting applications.”
ernment agency Enova. It is expected
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