Pherousa teams up with OSM Thome on ammonia-powered Ultramax newbuilds

Norwegian companies OSM Thome and Pherousa Green Shipping have signed a Letter of Intent outlining their collaboration on a series of 63,000 dwt Ultramax vessels about to be ordered by Pherousa.

The collaboration will involve three stages, the first stage being drawing approval, followed by stage two which will involve project development, and finally site supervision for six 63000 dwt Ultramax Bulk Carriers. Furthermore, OSM Thome will manage the crew and technical management of the constructed vessels.

Specifically, Oslo-based Pherousa Green Shipping AS, established in 2023, is in the process of initiating an order for up to six zero-emission Ultramax dry bulk carriers. These vessels are designed by Deltamarin in Finland. 

The initial ship design is derived from an existing Deltamarin Ultramax model, but it has been modified to include the ammonia cracking technology developed by Pherousa Green Technologies AS (PGT). This technology employs ammonia as a hydrogen carrier, facilitating true zero-emission propulsion.

“We are delighted to partner with the renowned shipmanagement group, OSM Thome, to assist us on finalizing our forthcoming fleet of true zero-emission Ultramax bulk carriers. Our early agreement with OSM Thome ensures that crew members will be prepared and trained well in advance of vessel delivery. This proactive approach guarantees the establishment of safety measures and protocols in accordance with the guidelines for safe handling at sea,” said Hans Bredrup, Chairman of the Pherousa Group.

The initial fleet of six Ultramax dry bulk carriers has a specific focus on serving the global copper industry. Given copper’s pivotal role in worldwide decarbonization efforts, the copper industry has set ambitious emission reduction targets, encompassing Scope 3 emissions which involve transportation to end users.

“The concept has garnered significant support, and we are actively engaging with key stakeholders in both ammonia supply and vessel end-users. This momentum is propelling us towards realizing zero-emission copper transportation, fostering a fully zero carbon supply chain from mines to destinations,” added Bredrup.

“We really appreciate the trust that PGS has in our abilities by signing this agreement. Since the merger of OSM Maritime Group and Thome Group was finalised in May this year creating the combined entity OSM Thome, we have worked hard to amalgamate and build on the best attributes and skills of all our employees to provide real benefits for our customers. We are looking forward to working closely with the team at PGS to ensure that this project is successfully supervised and managed to create sustainable transportation solutions,” said Tommy Olofsen, OSM Thome’s Chief Commercial Officer.