Amon Maritime

What Amon Maritime does

Amon Maritime AS is a privately-held maritime project development company founded in September 2019 by André Risholm and headquartered in Sandefjord, Norway. The company develops ammonia-fuelled vessels across four segments: midsize gas carriers via the Navigator Amon Shipping JV with Navigator Gas (two 51,530 m³ carriers on order at CIMC SOE in China for ~$84M each, delivering June and October 2028 on long-term time charter to Yara Clean Ammonia); deep-sea bulk carriers through wholly-owned subsidiary Amon Bulk (one Capesize and four Kamsarmax vessels, deliveries 2029–2030); short-sea bulkers via the Viridis Bulk Carriers JV with Navigare Logistics and Mosvolds Rederi; and Platform Supply Vessels for the Norwegian Continental Shelf via Amon Offshore. Vessel designs integrate ammonia-capable dual-fuel main and auxiliary engines with exhaust gas after-treatment, deck-mounted ammonia fuel tanks, battery hybrid power, and shore power connection, targeting an 87% tank-to-wake GHG reduction versus conventional fuels.

The business model is asset-heavy and contract-based. Revenue will be generated through long-term time charters (5-year deals with Yara Clean Ammonia), ammonia bunkering services and infrastructure access fees via Azane Fuel Solutions/Azane Infrastructure, and ship management fees via the Ula JV with Bernhard Schulte Shipmanagement. Capital formation is dominated by Norwegian public funding — Enova grants totalling over NOK 1.5B across the Amon Gas MGCs, Amon Bulk bulkers, Viridis carriers and Azane Infrastructure terminals — supplemented by a $5.7M private round into Azane from Yara Growth Ventures and Navigator Holdings. The GTM motion is enterprise-direct and partnership-led: vessels are developed jointly with established shipowners (Navigator Gas, Navigare Logistics), financiers (Yara, Navigator) and technology providers (Kongsberg Maritime, ECONNECT Energy, Amogy), with offtake secured from blue-chip industrial charterers (Yara, Equinor, Elkem, European Steel Industries, BioMar, Stema Shipping).

The portfolio is structured as a vertically-integrated ammonia shipping platform: ship newbuilding (Navigator Amon Shipping, Amon Bulk, Amon Offshore, Viridis) + fuel supply (Azane bunkering terminals at Mongstad, Florø, Risavika) + vessel operations (Ula Ship Management). This architecture is intended to solve the chicken-and-egg problem of new fuel infrastructure and new vessels. Regulatory traction is a core differentiator: the company holds the world's first preliminary flag approval for an ammonia-powered ship (Norwegian Maritime Authority, 2022), DNV AIP for bunkering terminals (2022) and gas-fuelled notation (2024), Bureau Veritas AIP for a short-sea ammonia bulker (2023), and the world's first DSB safety permit for an ammonia bunkering terminal (2024).

Name

Amon Maritime

Legal name

Amon Maritime AS

Website

https://amonmaritime.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Amon Maritime is a Norway-based maritime project developer pioneering ammonia as zero-carbon marine fuel, building gas carriers, deep-sea bulk carriers, short-sea bulkers and PSVs through subsidiaries and JVs with Navigator Gas, Navigare Logistics and Yara, and supplying fuel through Azane bunkering infrastructure.

Ownership category

akta.pro rank

Product category

Zero-Emission Maritime Shipping

NAICS

Ship Building and Repairing (336611), Ship and Boat Building (33661), Support Activities for Water Transportation (4883)

SIC

Ship & Boat Building & Repairing (3730), Water Transportation (4400), Deep Sea Foreign Transportation Of Freight (4412)

akta.pro primary industry

Bulk Carrier Shipbuilding (Dry Bulk: Capesize/Panamax/Handysize) (IMAJAAAA)

akta.pro secondary industry

Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL)

Keywords

• Ammonia marine fuel
• Zero-emission shipping
• Ammonia bunkering infrastructure
• Maritime vessel chartering
• Ship project development

Headquarters

HQ city

Sandefjord

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Vessel chartering revenue: Amon Maritime generates revenue through long-term time charter agreements for its ammonia-powered vessels. Vessels are chartered to industrial companies and shipping operators, providing zero-emission transportation services.
2. Ammonia bunkering services: Through subsidiary Azane Fuel Solutions, the company provides ammonia bunkering infrastructure and services to ship operators, enabling fuel supply for ammonia-powered vessels.
3. Ship management services: Through Ula Ship Management joint venture with BSM, the company provides ship management services for ammonia-powered vessels and complex vessels in the Norwegian market.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Amon Maritime is a maritime project development company that conceives, designs, finances and operates ammonia-powered vessels across gas carrier, deep-sea bulker, short-sea bulker and offshore PSV segments. Revenue is generated primarily through long-term time charter agreements for its ammonia-fueled fleet, complemented by ammonia bunkering infrastructure and fuel-supply services via Azane Fuel Solutions and third-party ship management via Ula Ship Management.

Product overview

Amon Maritime is a maritime project development company pioneering ammonia as zero-carbon fuel across multiple vessel segments. The portfolio comprises Navigator Amon Shipping (ammonia-fueled gas carriers via JV with Navigator Gas), Amon Bulk (deep-sea Kamsarmax/Capesize carriers), Viridis Bulk Carriers (short sea bulk via JV with Navigare), Amon Offshore (PSVs for Norwegian Continental Shelf), Azane Fuel Solutions (ammonia bunkering infrastructure terminals), and Ula Ship Management (ship management JV with BSM). These interconnected units provide end-to-end ammonia-powered shipping from vessel construction to fuel supply and operations management.

Differentiator

Problem solved

Functional benefit

Brands

• Navigator Amon Shipping: Joint venture with Navigator Gas for construction and operation of ammonia-fuelled liquefied ammonia carriers and LPG carriers.
• Amon Bulk
• Amon Gas
• Amon Offshore
• Viridis Bulk Carriers
• Azane Fuel Solutions
• Ula Ship Management

Products and services

• Navigator Amon Shipping — Ammonia-fueled Gas Carriers Joint venture with Navigator Gas operating 51,350 m3 midsize gas carriers purpose-built for zero-emission transport of ammonia and LPG, powered by ammonia-capable dual-fuel engines and long-term chartered to industrial charterers such as Yara Clean Ammonia.
• Amon Bulk — Ammonia-fueled Deep-Sea Bulk Carriers Ammonia-fueled Kamsarmax and Capesize bulk carriers for zero-emission deep-sea transport of dry bulk commodities (iron ore, coal, grain), designed for European steel industries and other heavy-industry customers operating under EU ETS and FuelEU Maritime regulations.
• Viridis Bulk Carriers — Ammonia-powered Short Sea Bulk Carriers Ammonia-fueled short-sea bulk carrier service for North European trade, with vessels offering >3,000 nm sailing range and operated via charter parties with consortium partners including Elkem, Vestkorn, BioMar, Stema Shipping, Franzefoss Minerals and Viken AT Market.
• Amon Offshore — Ammonia-powered Platform Supply Vessels (PSVs) Platform supply vessel (PSV) service for offshore oil and gas operators on the Norwegian Continental Shelf, using ammonia-fueled propulsion to meet the Norwegian government's mandate for zero-emission PSVs by 2030 while maintaining conventional cargo capacities.
• Azane Fuel Solutions — Ammonia Bunkering Infrastructure Floating ammonia bunkering terminal infrastructure and fuel handling technology enabling safe, reliable and scalable ammonia fuel supply for ship operators; planned Scandinavian terminal network at Mongstad, Florø and Risavika with NOK 442 million Enova backing via Azane Infrastructure.
• Ula Ship Management — Ammonia Vessel Ship Management Services Ship management services for ammonia-powered vessels and other complex vessels in the Norwegian market, leveraging Bernhard Schulte Shipmanagement's experience in LNG dual-fuel operations alongside Amon Maritime's ammonia vessel design expertise, co-located with Amon Maritime in Sandefjord.

Quantifiable outcome

• 87% carbon emission reduction compared to conventional vessels from start of operations, with ambitions for further reductions towards 100%
• +3 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and major.

• Navigator Gas (Navigator Holdings Ltd.)coreStrategic or Co-development Partner · 19 September 2025Navigator Gas holds approximately 80% ownership in Navigator Amon Shipping AS joint venture, with Amon Maritime holding approximately 20%. Joint venture constructing two 51,530 m3 ammonia-fuelled gas carriers at CIMC SOE in China (deliveries 2028). Navigator also invested 14.5% in Azane Fuel Solutions and is a long-term time charter customer. Navigator is the world's largest fleet of handysize liquefied gas carriers.
• EquinormajorStrategic or Co-development Partner · 27 June 2023Joined AFBN (Ammonia Fuel Bunkering Network) as associated partner. Leading AFNO 2030 project study to evaluate clean ammonia as fuel for Norwegian offshore sector. Project covers logistical optimization, operational planning, and safety aspects for decarbonizing offshore logistics.
• Bernhard Schulte Shipmanagement (BSM)coreStrategic or Co-development Partner · 5 April 202250/50 joint venture Ula Ship Management established during Nor-Shipping in Oslo. Co-located with Amon Maritime in Sandefjord, Norway. BSM is world's third largest ship manager with experience in gas fuel operations including LNG dual fuel. Manages Amon Maritime vessels and competes in Norwegian third-party management market.
• Kongsberg MaritimemajorTechnology or Integration · 1 January 2022Leading marine technology group and offshore ship designer. Designs Amon Offshore PSV and Viridis Bulk Carriers vessels. Delivers fuel gas supply systems (FGSS), Ship Design team responsible for all aspects of next generation vessel designs including general arrangement, hydrodynamics, stability, safety, machinery and electrical.
• ECONNECT EnergycoreTechnology or Integration · 1 January 2021Co-founded Azane Fuel Solutions together with ECONNECT Energy. ECONNECT provides IQuay floating transfer terminal technology for ammonia bunkering. Independent Norwegian technology company assisting midstream, downstream and maritime markets.
• Navigare LogisticscoreStrategic or Co-development Partner · 1 January 2021Joint venture partner in Viridis Bulk Carriers. Founded in 1966, Navigare owns and operates 14 short-sea bulk carriers and provides complete logistical solutions. Brings shipping expertise and networks to ammonia-powered bulk carrier venture.
• Yara / Yara Clean AmmoniacoreStrategic or Co-development PartnerYara is world's largest ammonia distributor. Strategic partner in Azane Fuel Solutions with Yara Growth Ventures owning 14.5%. Yara Clean Ammonia pre-ordered 15 bunkering terminals from Azane. Provides clean ammonia fuel for Azane's bunkering units. Long-term time charter customer for Navigator Amon Shipping vessels.
• Fjord BasemajorStrategic or Co-development PartnerNorway's largest offshore supply base. Consortium partner in Ammonia Fuel Bunkering Network project. Location for planned ammonia bunkering terminal (Florø) approved by DSB.

Scale indicators13 records

Recent moves14 records

Expansion highlights6 records

Direct peers

• Navigator Holdings: JV partner in Navigator Amon Shipping and co-investor in Azane Fuel Solutions. World's largest owner/operator of handysize liquefied gas carriers; directly comparable as a gas carrier operator transitioning to ammonia-fueled tonnage.
• Berge Bulk: Independent dry bulk shipowner with a strong decarbonization agenda and carbon-neutral vessel targets. Most directly comparable dry bulk peer pursuing zero-emission newbuildings alongside steel and industrial charterers.
• Bernhard Schulte Shipmanagement (BSM): 50/50 JV partner in Ula Ship Management. World's third-largest ship manager with deep gas-fuel experience; directly comparable third-party manager for complex vessels including ammonia-fueled tonnage.
• Avance Gas Holdings: LPG and ammonia-capable gas carrier operator with overlapping vessel profile to Navigator Amon Shipping. Comparable in gas carrier asset class and shift toward cleaner fuels.
• Østensjø Rederi: Norwegian offshore PSV and tug operator pursuing low- and zero-emission tonnage for the Norwegian Continental Shelf. Directly comparable to Amon Offshore's ammonia-powered PSV strategy.
• ECONNECT Energy: Co-founder and JV partner of Azane Fuel Solutions, providing IQuay floating transfer terminal technology. Closely comparable as a small Norwegian technology company enabling ammonia and alternative fuel bunkering infrastructure.

Emerging players

• Flex LNG: Small-cap pure-play LNG carrier focused on fuel-efficient, low-emission vessels. Comparable as a focused, environmentally driven gas carrier project developer, though in LNG rather than ammonia.

Broad incumbents

• Stolt-Nielsen: Global operator of chemical tankers and tank containers with strong sustainability commitments. Comparable as a broader-incumbent chemical/clean shipping peer with overlapping customer base in industrial chemicals.
• Yara Clean Ammonia: Strategic partner, investor, and charterer of Amon's MGCs. World's largest ammonia distributor and a leader in clean ammonia production; closely linked commercially and a key external stakeholder for Amon's gas carrier business.
• Kongsberg Maritime: Marine technology partner designing Amon's PSV and bulk carrier vessels (FGSS, ship design). Comparable as an enabling technology incumbent in alternative-fuel vessel integration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/amon-maritime/?originalSubdomain=no

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Amon Maritime