TradeWinds: ‘Wild card’ market: Why owners have ‘hedged their bets’ with very large ammonia carriers

February 18, 2025 In a conservative case, based on current policies, 222m tonnes are expected to be traded in 2030. In the most optimistic case, based on what countries would really need to do to achieve net-zero greenhouse gas emissions, 735m tonnes of ammonia demand is expected. “All this new demand is regulatory based,” Ingram said. “Our base case is driven by the nations’ pledges to meet net zero, which are quite under what is required to meet net zero by 2050. You’ve got some countries that do not pledge to meet net zero before 2060 or 2070.” Today, most ammonia is used where it is produced, with just 10% traded between regions, primarily transported on small or medium gas carriers. She said: “That’s about to change significantly because of the role of ammonia in the energy transition that we foresee.” In the near future, ammonia will be particularly needed in the power sector in North East Asia to help reduce CO2 emissions, Ingram said.

To read the full article, click here.