Ma'aden adds four new vessels to its fleet to ship ammonia

RIYADH: Saudi Arabian Mining Company (Ma’aden), has signed agreements with Thenamaris LNG Inc. and Exmar Marine NV to hire a total of four vessels to transport ammonia produced by the company.

Ma’aden plans to increase the ammonia maritime transport fleet to 7 vessels, with an annual shipping capacity of around 2 million tons with these agreements.

 The shipping agreements will enter into force in the first quarter of 2022.

 “We started ammonia exports with just one ship back in 2016 and these new chartering agreements will strengthen our global logistics network and enable Ma’aden to serve its customers faster,” Ma’aden CEO Abdulaziz Al-Harbi said.