CIMC Enric Signed Contract with Norwegian Shipowner Amon Gas for 2+2 World's Largest Ammonia-Fueled MGCs, Setting a New Industry Benchmark

HONG KONG, July 29, 2025 /PRNewswire/ -- CIMC Enric Holdings Limited and its subsidiaries (collectively, "CIMC Enric" or the "Company") (Stock code: 3899.HK) are pleased to announce that Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. ("CIMC SOE"), a subsidiary of CIMC Enric, has signed a shipbuilding contract with the Norwegian company Amon Gas for the construction of 2+2 51,000 m³ ammonia dual-fuel medium-sized LPG/liquid ammonia carriers (MGCs, Medium - sized Gas Carrier). This landmark cooperation marks a significant step forward for both parties in promoting green shipping and clean energy applications.

Signing Order for World's Largest Ammonia-Fueled MGCs

Amon Gas, a joint venture between Navigator Holdings Ltd. and Amon Maritime, specializes in building and operating ammonia-fueled gas carriers and is committed to significantly reducing greenhouse gas emissions in the shipping industry through innovative solutions. Its ammonia-fueled MGC project, launched in 2019, has received support from ENOVA, Norway's national agency for the development of sustainable energy technologies. The 51,000 m³ vessel type signed with CIMC SOE represents the further advancement and concrete implementation of this project. The new vessels are scheduled for delivery in 2028.

This vessel type is currently the world's largest medium gas carrier and the first MGC exceeding 51,000 m³ to adopt ammonia-fueled power, embodying a key development direction for future green shipping.

The design of the two newly signed 51,000 m³ ammonia dual-fuel medium-sized LPG/liquid ammonia carriers fully aligns with future green energy trends, particularly in reducing the carbon footprint of the global shipping industry. By utilizing green ammonia as fuel, these vessels will contribute to achieving the emission reduction targets set by the International Maritime Organization (IMO). Additionally, the vessels will be equipped with shaft generators and ammonia-fueled generator sets to optimize operational costs, enhance maintenance efficiency, and significantly reduce pollution and greenhouse gas emissions during operations, reflecting CIMC SOE's firm commitment to sustainable development.

Unlike existing MGC designs in the market that only feature ammonia-fueled main engines but lacking ammonia-fueled generator sets, the newly signed ammonia-fueled MGCs are the first in their class to integrate both ammonia-fueled main engines and on-board generator sets, setting a new benchmark for ammonia-fueled MGCs. Through the technical application and project execution of the ammonia-fueled main engines and generator sets, the Company will fully master system matching, safety control, gas supply design, and commissioning processes for ammonia fuel power systems on vessels. This capability will lay a solid foundation for subsequent R&D and market promotion of ammonia-fueled bunkering vessels, large ammonia-powered gas carriers, and related supporting equipment, further consolidating the Company's technological leadership in green shipping.

Annual new order intake for offshore clean energy business of the Company is expected to reach approximately RMB 8 billion (~USD 1.1 billion)

According to the Ammonia Energy Association (AEA), as of March this year, a total of 130 ammonia-fueled vessels have been ordered or announced globally, alongside an additional 225 ammonia-ready vessels in the pipeline. This demonstrates that ammonia fuel is moving towards larger-scale applications in shipping decarbonization.

Mr. Gao Wenbao, Vice President of CIMC Enric and General Manager of CIMC SOE, stated: "Despite facing numerous external challenges, CIMC SOE has maintained its leading position in the industry by leveraging its globally advanced technology and manufacturing strengths in liquefied gas carriers. The total value of this order exceeds USD 160 million. From the beginning of this year to the present, 12 vessels have been delivered, and the acquisition of new orders has accelerated significantly since May. It is estimated that new orders for related offshore clean energy businesses will reach approximately RMB 8 billion in 2025."

Mr. Yang Xiaohu, Executive Director and President of CIMC Enric, stated: "Securing this industry-leading order demonstrates that CIMC Enric's capabilities in clean energy shipbuilding have been highly recognized by international shipowners." He added: "The offshore clean energy business has become one of the important cornerstones of the Company's strategy to deploy international shipping clean energy solutions and comprehensive services. Building on its business capabilities and customer base, the Company has also established core competencies such as production capacity for biomass-based green methanol and core process solutions for green hydrogen/ammonia/methanol projects, including port bunkering. Assisting traditional industries in their green transformation through clean energy is a key vision and mission of the Company. We will forge ahead to create sustainable value for society."

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