By Dominic Chopping

Singapore commodity trading firm Trafigura Pte Ltd and Norwegian fertilizer producer Yara International ASA said Monday that they have signed a memorandum of understanding to collaborate on the development and promotion of the use of ammonia as a clean fuel in shipping.

Under the deal, the companies will collaborate on the supply of clean ammonia by Yara to Trafigura group companies, explore joint research and development initiatives for clean ammonia application as a marine fuel, and develop new clean ammonia assets including marine fuel infrastructure and market opportunities.

Financial terms of the deal weren't disclosed.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

June 07, 2021 02:29 ET (06:29 GMT)

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