Ammonia’s share may be 40% of global bunker fuel demand by 2050 — Amogy CEO in International Shipping News 05/05/2026 US-based Amogy “deeply believes” that ammonia could account for as high as 40% of the global bunker fuel consumption mix by 2050 as decarbonization gains momentum, company cofounder and CEO Seonghoon Woo told Platts, part of S&P Global Energy. Amogy has already completed demonstrations of its ammonia-to-power technology on a drone, a tractor, a semi-truck and in 2024 on a tugboat, Woo said in an exclusive interview during the Singapore Maritime Week that ended April 24. The company has developed an ammonia-to-electrical power system that splits, or cracks, liquid ammonia into its base elements of hydrogen and nitrogen. The system then funnels the hydrogen into a fuel cell or hydrogen engine, generating high-performance power, according to Woo. Amogy aims to focus on ammonia-based stationary power applications over the next two-three years and then expand its capabilities into the maritime sector, Woo said. Amogy plans to replace conventional four-stroke diesel marine engines with its carbon-free ammonia modules by 2028-29, then scale up to the main engine replacement about 2033-2035, Woo said. The ammonia option “The beauty of ammonia is that its production is very scalable,” Woo said. Global ammonia production stands at about 200 million metric tons/year, meaning the output must be augmented by an additional 200 million-300 million mt/y for use as a marine fuel, according to Woo. India and China are already ramping up production of green ammonia, derived from renewable hydrogen, Woo said. Green ammonia production costs in some countries are about $500-$600/mt, much lower than a few years ago, when it was forecast to be about $800/mt, Woo said. “Lower green ammonia prices will drive its adoption even faster.” Stricter environmental regulations, including the EU ETS, the Fuel EU Maritime and the International Maritime Organization’s Net Zero Frame