COSCO Shipping Bulk Co., Ltd. has entered into a lease agreement with BHP for the acquisition of two Newcastle-class bulk carriers, which will operate on ammonia dual-fuel. These vessels are anticipated to be delivered in 2028 and will serve the crucial route of transporting iron ore from Western Australia to Northeast Asia. Notably, ships utilizing ammonia fuel can achieve a remarkable reduction in carbon emissions per voyage, ranging from 50% to 95%, when compared to traditional fossil fuel-powered vessels.