Fortescue Metals Group (FMG) plans to have the world's first ammonia-powered ship ready by the end of 2022.

Mining billionaire Andrew Forrest, the company's chairman and founder, told Bloomberg the small vessel will have about 1% of the capacity of the biggest ore carriers, suggesting something in the region of 4,000 dwt.

The project is part of an ambitious plan to run all the group's bulkers on the green fuel.