Norway’s Amon Bulk is pushing ahead with plans to build three ammonia-fuelled kamsarmax bulk carriers after securing NOK 298m ($27m) in investment grants from state energy agency Enova.

The ships, each around 80,000–85,000 dwt, are designed to run on ammonia and to deliver high energy efficiency, positioning them for tightening emissions rules in Europe and beyond. Amon Maritime, which set up Amon Bulk earlier this year, said the vessels are aimed in part at European steelmakers facing growing pressure to cut the carbon footprint of their logistics chains.

The newbuilds will be compliant with the EU Emissions Trading System and FuelEU Maritime requirements, which the company says should help protect earnings as regulation tightens over the coming decade.

“This grant provides the foundation to move forward with three additional kamsarmax vessels,” said Amon Maritime chief executive André Risholm, adding: “It marks an important step for Amon Bulk and for the industry’s green transition.”

The latest award follows an earlier Enova grant of NOK253m that underpinned Amon Bulk’s initial plans for two ammonia-powered bulk carriers — a capesize and a kamsarmax. With the new funding, the group has now secured more than NOK552m in public support for a total of five ammonia-fuelled bulkers.

All five vessels are scheduled for delivery between 2029 and 2030.