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SDG Namibia One Fund, Zhero Europe ink funding deal for Walvis Bay green ammonia plant

Once operational, facility is expected to produce 500,000 mt of green ammonia per year and the green ammonia produced is expected to serve decarbonisation markets, including maritime bunker fuels.

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SDG Namibia One Fund, Namibia’s dedicated energy transition and green hydrogen infrastructure fund, on Friday (19 December) announced the signing of a Development Funding Agreement with Zhero Europe, a clean energy projects developer, to advance the development of the Zhero Molecules Walvis Bay Project, an industrial-scale green ammonia facility near Walvis Bay in the Erongo Region on Namibia’s central coast.

SDG Namibia One Fund (also known as Climate Investor Three Namibia) is managed by Climate Fund Managers (CFM), a climate-focused blended finance investment manager, in partnership with Dutch development finance institution, Invest International, and the Environmental Investment Fund of Namibia (EIF). 

The Fund is backed by the European Union Global Gateway investment strategy and Invest International. It has committed up to USD 5.15 million in development funding to enable Zhero to complete the development and feasibility activities required to progress the project toward a final investment decision, targeted for 2027. Commercial operation is expected in 2030.

Zhero Molecule Walvis Bay is Zhero’s flagship project in green molecules. Once operational, it is expected to produce 500,000 metric tonnes (mt) of green ammonia per year, avoiding approximately 1.2 million mt of CO₂ emissions annually. 

Alongside its contribution to the energy transition, the project will support Namibia’s broader socio economic development – creating approximately 6,000 jobs during construction and around 500 permanent roles, while also generating opportunities for local businesses and service providers across the value chain.

The project will be powered by an integrated renewable energy system comprising 3 GW of solar PV, 2.2 GWh of battery energy storage, a 1.6 GW electrolyser system and 110 km of new transmission infrastructure. A desalination plant is planned as part of the project’s water supply solution. Green ammonia produced by the Project is expected to serve global decarbonisation markets, including fertilisers, maritime fuels and industrial feedstocks.

Green ammonia is produced by combining green hydrogen, generated through electrolysis powered by renewable energy, with nitrogen extracted from the air. It is a zero-carbon fuel and chemical feedstock with applications across sectors including fertiliser production, maritime shipping and industrial processes. Green ammonia is particularly important for decarbonising these hard-to-abate industries, where few alternative zero-carbon solutions currently exist.

Darron Johnson, Regional Head of Africa at Climate Fund Managers, said: “Zhero’s project aligns strongly with Namibia’s ambition to build a competitive green hydrogen and ammonia industry, as well as with the mandate of our SDG Namibia One Fund. The site benefits from exceptional solar resources, ample land and direct access to deep-water export infrastructure at Walvis Bay, making it well-suited for industrial-scale green ammonia production. 

“Through its blended finance structure, SDG Namibia One is providing early-stage development capital along side Zhero needed to de-risk the project and prepare it for financial close, creating the conditions for private capital to invest at scale in the construction phase. We look forward to working with Zhero to bring this important project from development, through construction and into operation.”

Paolo Gallieri, Chief Operating Officer at Zhero, said: “This development funding from SDG Namibia One will be additive to our own development funding investment. Given the deep understanding of the Namibian ecosystem that the team at the Fund bring and the blended-finance model they can augment, we very much regard this investment as pivotal to the success of this venture. 

“Namibia has the natural resources, strategic location and national vision to become a global leader in green ammonia and hydrogen. With this support, we are strengthening our ability to deliver a world-class facility that can attract long-term investment, create economic opportunities for the country and contribute to global decarbonisation efforts.”

European Commissioner for International Partnerships, Jozef Síkela, said: “During my mission to Namibia, I saw first-hand how Global Gateway cooperation in renewable energy can translate into real industrial value. This project shows what that means in practice: thousands of jobs in Namibia, sustainable industrial development and a new clean-energy supply that can support Europe’s decarbonisation efforts”

SDG Namibia One is a blended finance facility designed to mobilise public and private investment into Namibia’s green hydrogen and energy-transition sectors. It currently manages EUR 65 million in early-stage development funding from European donors and is raising additional capital to finance construction-phase investments.

 

Photo credit: Zhero
Published: 26 December, 2025

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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