MOL reenters the ammonia trades

Japan’s largest shipowner in dwt terms, Mitsui OSK Lines, is reentering the ammonia trades after a five-year hiatus.

The company has bought the 11-year-old 35,000 cu m Green Pioneer, a ship capable of transporting both LPG and ammonia. The Japanese line has also signed a time charter contract with Trammo, an American ammonia trading firm.

MOL was previously active in the ammonia transport business through to 2016. MOL cited growing needs for fertilizer to feed the world’s increasing population and the potential for ammonia to be a fuel of the future as reasons why it has decided to get back into this trade in a release today.