FILE PHOTO: The logo of Itochu Corp is seen outside the company's headquarters in Tokyo, Japan, November 7, 2016. REUTERS/Toru Hanai/FILE PHOTOTOKYO : Japanese trading house Itochu Corp will study joint ownership and operation of ammonia-fuelled ships with Taiwan's U-Ming Marine Transport Corp, Itochu said in a statement, as Japan is bets on ammonia to cut emissions.
The International Maritime Organization has set a target of net-zero greenhouse gas emissions by around 2050, for which cleaner fuels such as ammonia are key. Across the Asia-Pacific region, countries from Malaysia and Indonesia to India and South Korea are conducting ammonia co-firing trials at power stations which use fossil fuels, with many projects involving Japanese investors.