First International Shipping Company to Participate in Ammonia Bunkering Hub Initiative in Western Australia's Pilbara Region - Memorandum of Understanding Signed with NH3 Clean Energy and Oceania Marine Energy for Joint Development -

(Mitsui O.S.K. Lines (Google translation)) Mitsui O.S. K. Lines, Ltd. (MOL; President & CEO: Tsuyoshi Hashimoto; Headquarters: Minato-ku, Tokyo) today (October 7, 2025) signed a memorandum of understanding (MOU) with NH3 Clean Energy Limited (NH3) and Oceania Marine Energy (Oceania) regarding the development of a clean ammonia bunkering business in the Pilbara region of Western Australia. The MOU aims to promote collaboration with NH3 and Oceania in the Pilbara Clean Fuel Bunkering Hub (Note 1), Australia's first ammonia bunkering initiative announced by the Pilbara Port Authority in June this year, and marks the first time that MOL has become the world's first international shipping company to participate in ammonia bunkering in the region.

The Pilbara region of Western Australia is home to the world's largest iron ore shipping port and is a major port of call for capesize bulkers. To realize low-carbon ammonia bunkering in the region, Pilbara Ports Authority has signed a joint development agreement with NH3, which supplies blue ammonia, and Oceania, which operates a bunkering business, with the aim of starting a bunkering business for capesize bulkers at the ports of Dampier and Port Hedland by 2030.

The purpose of this MOU is for NYK, NH3 and Oceania to jointly propose ammonia bunkering to iron ore suppliers in Western Australia and to consider safety and other aspects of ammonia bunkering, with a view to transitioning iron ore carriers in the Pilbara region to ammonia fuel and realizing the WAH2 (pronounced: WAH2) project (Note 2).

NYK will jointly own and time-charter three ammonia dual-fuel Capesize bulk carriers with CMB.TECH NV (headquartered in Belgium), which are scheduled for completion (2026-2027) at China State Shipbuilding Corporation's Qingdao Beihai Shipbuilding Co., Ltd. (Note 3). The ammonia dual-fuel Capesize bulk carriers are expected to be deployed on the iron ore transport route between Western Australia and East Asia, and NYK is considering establishing safe ammonia bunkering operations and procuring ammonia on this route. Through this collaboration, NYK will use its position as an operator of ammonia dual-fuel vessels to ensure safety and consider procuring ammonia in the Pilbara region.

"We are extremely honored to have signed this memorandum of understanding with NH3 and Oceania today. The Pilbara region will be an important base for our ammonia dual-fuel Capesize bulker, which is scheduled to begin commercial operations in 2026. This collaboration marks an important step towards establishing a safe and reliable ammonia bunkering business in the Pilbara region. We will work closely with our partners to contribute to the establishment of a safe ammonia bunkering system and the promotion of sustainable shipping."

"We are very pleased to have reached this agreement with Mitsui O.S.K. Lines, which brings our clean ammonia bunkering business one step closer to reality. This new agreement demonstrates that the transition to low-carbon fuels is gaining momentum and builds on the existing joint development agreement between NH3, Pilbara Ports Authority and Oceania, with the aim of establishing an ammonia hub in the Pilbara region by 2030. We would like to express our sincere gratitude to Premier Cook and his team for their continued support in establishing this emerging clean energy industry, which will pave the way for a more sustainable future for our mining sector and energy exports."

"Our collaboration with MOL and NH3 demonstrates how partnerships between the energy and shipping sectors can deliver real greenhouse gas emissions reduction benefits to Australia's iron ore exporters and shipping industry. By combining NH3's clean ammonia production capacity, Pilbara port infrastructure, our bunkering services, and MOL's pioneering dual-fuel fleet, we are creating integrated end-to-end marine fuel solutions to help our customers achieve IMO decarbonization targets."

About NH3 Clean Energy Limited:
NH3 Clean Energy Limited (ASX: NH3) is an Australian company focused on developing new energy projects and exploring for and developing energy-related resources. Through its WAH2 project, NH3 is developing a business that utilizes renewable energy to supply low-carbon hydrogen (low-carbon ammonia) to overseas markets on a large scale. NH3 is a 100% owner of the Mackintosh nickel-copper-PGE project and the Halls Creek gold-base metals project in Western Australia. NH3 also has an earn-in agreement for graphite at Mackintosh.
Website: www.nh3ce.com

About Oceania Marine Energy:
Oceania Marine Energy is a privately held Australian company headquartered in Perth, Western Australia. The company is committed to developing safe and reliable clean ammonia bunkering in the Pilbara region. The company's bunkering vessel, Oceania Alpha, will play a vital role in connecting Dampier's low-carbon ammonia supply to ocean-going vessels operating on the Australia-Asia route, thereby enabling the decarbonization of the shipping industry in line with the IMO Net Zero Framework and Pilbara Ports' Clean Fuel Strategy.
Website: https://oceania.energy/

(Note 1) In a plan announced by the Pilbara Ports Authority in June this year to supply low-carbon ammonia produced in the Pilbara region as marine fuel, Dampier Anchorage or Port Hedland Anchorage are considered as possible bunkering locations.

(Note 2) Western Australia is well-positioned to meet growing demand for low-carbon energy as Asia's energy transition toward decarbonization progresses. The WAH2 project is NH3's flagship project, aiming to supply low-carbon ammonia from Western Australia to major economies in the Asia-Pacific region, including Japan and South Korea. The project will also provide marine bunkering for Capesize bulkers transporting iron ore from Western Australia to East Asia.

The MOL Group has identified "sustainability issues (materiality)" as key issues for achieving sustainable development together with society through the realization of its Group Vision. This project specifically addresses the five sustainability issues
: "Safety & Value - Providing added value through safe transportation and social infrastructure businesses," "Environment - Preserving the marine and global environment," and "Innovation - Advancing maritime technology." READ MORE