The Castor Initiative, a coalition of high-profile shipping industry players who intend to commercialise the development of the world’s first zero-emission tankers, has put pen to paper with an order for two ammonia-fuelled VLCCs.

Lloyd’s Register, Samsung Heavy Industries and MISC Berhad, via its tanker subsidiary AET, signed a memorandum of understanding (MOU) on Monday for the development and construction of the two tankers.