ITT company Svanehøj, a designer and manufacturer of specialised cryogenic deepwell and submersible pumps for the marine sector, is to provide ammonia fuel pumps for eight bulk carriers owned by an unnamed shipping and logistics group.
The pumps will deliver a reliable supply of fuel and are fully compatible with all liquefied gas fuels, including LNG, LPG, methanol and ammonia. This will drive long-term growth as sustainable fuels are widely adopted to reduce GHG emissions. The first two Svanehøj pumps will be delivered in 2024 with the remainder of the order fulfilled in 2025.
The bulk carriers are the first commercial vessels of this size capable of being powered by ammonia. They will be equipped with a dual fuel system with the Svanehøj fuel pumps future-proofing the vessels to handle ammonia and other sustainable fuels.
ITT’s President and CEO Luca Savi said: “Svanehøj continues to build trust with its customers through its experience in green applications, its flawless execution and rapid response times. Awards like this one provide strong recurring business and will bolster ITT’s sales for green solutions, which today represents approximately 16% of total annual revenue. Svanehøj has booked orders into 2025 and we are well-positioned for the energy transition as we gain share in this segment and expand our already large and healthy backlog.”
The company is positioned for growth resulting from IMO emissions reduction ‘Net-zero by 2025’ strategy under which ship owners and operators are expected to upgrade their fleets and invest in clean fuel technologies to comply with regulatory requirements. The company is benefitting from a large backlog driven by new ship builds with fuel systems powered by clean fuels and strong aftermarket revenue visibility due to compulsory scheduled vessel maintenance.
Image: Svanehøj pumps (source: Svanehøj)
