Current landscape The shipping industry has reached a pivotal point. While the International Maritime Organization (IMO) has adopted a net-zero greenhouse gas emissions framework in 2023 targeting 2050,41 the sector has had to confront significant challenges. Members continue to invest in battery, ammonia and methanol-ready dual-fuel vessels – a necessary step towards the adoption of zero-emission fuels. Transitioning to new fuel types requires major infrastructure changes and investment in compatible vessels, making early commitments critical.42 By organizing significant corporate demand for fuels and the cargo moved by lower- emission vessels, FMC plays an essential role in accelerating investments in ports, infrastructure and zero-emission shipping solutions. Impact highlights FMC members are speeding up maritime decarbonization with their demand signals, demonstrating how coordinated action across the value chain can turn ambition into operation. In May 2025, A.P . Møller - Maersk’s first methanol- enabled vessel, Laura Maersk, was fuelled with e-methanol from European Energy and Mitsui & Co’s new Kassø plant in Denmark. This marked one of the world’s first commercial-scale uses of green e-methanol in deep-sea shipping.43 Mitsui O.S.K. Lines’ subsidiary, MOL Switch, and its investment in U.S.-based Twelve further reinforce this momentum by supporting the scale- up of maritime e-fuels capable of significantly reducing lifecycle emissions across shipping.44 By uniting ship operators, fuel innovators and supply chain partners, FMC’s convening role makes breakthrough clean shipping projects possible, pushing the entire sector towards zero-emission maritime transport. Several major maritime players are progressing ammonia-fuelled shipping initiatives to help decarbonize their fleets. Höegh Autoliners is introducing four dual-fuel Aurora vessels capable of operating fully on ammonia, aiming for near-zero emissions by 2027.45 MOL plans to deploy nine ammonia dual-fuel ships – three bulkers and six chemical tankers – beginning in 2026.46 Trafigura has signed a contract for four ammonia dual- fuel gas carriers from Hyundai Mipo Dockyard.47 Meanwhile, BHP has ordered two ammonia dual- fuel Newcastlemax vessels from COSCO Shipping Bulk for 2028 delivery48 and is continuing its biodiesel pilot projects.49 These actions show how FMC members are taking action through vessel orders to send early signals for fuel supply, increasing the certainty required to help projects reach final investment decision. Outlook Shipping is already moving towards zero-emissions fuelling, with a rapidly expanding order book for methanol, ammonia and hydrogen-capable vessels and offtake agreements for the corresponding fuels. While the industry has made significant steps forward, global policy has taken a hit with IMO postponing a decision on global regulation. Some regional policies do exist, but it remains critical to ensure joined-up global policy frameworks. Continued progress will depend on coordinated action among shipowners, fuel producers and policymakers to harmonize standards, scale infrastructure and de-risk first-mover investments. Shipping Commitment in brief: By 2030, shipping companies will ensure at least 5% of their deep-sea operations use zero-emission fuels. Cargo owners will make sure at least 10% of their freight is shipped on vessels powered by zero-emission fuels. Read the shipping commitment in full.Commitment reviewed in 2025 First Movers Coalition Impact Brief 12

First Movers Coalition Impact Brief 2026