Setting Sail Toward a Greener Future

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Marsh supports EXMAR‘s vision in Redefining Global Shipping

The recent delivery of EXMAR’s ANTWERPEN, the world’s first oceangoing vessel powered by a dual-fuel ammonia engine, is a historic milestone in maritime transport. This breakthrough highlights the vision and value proposition of ‘s operations, which Marsh is proud to support.

When marine innovation is backed by robust risk management, the results yield tangible benefits for the environment, the maritime industry and the global economy.

Driving Environmental Progress

The shipping industry is under immense pressure to decarbonize, and the ANTWERPEN is built specifically for where the sector is heading. Designed to transport up to 46,000 m³ of ammonia or LPG, the vessel has the unique capability to utilize low-carbon ammonia for its propulsion.

● Unprecedented Emissions Reduction: When operating on ammonia fuel, the vessel can reduce greenhouse gas (GHG) emissions by up to 90% compared to conventional ships.

● Fuelling the Energy Transition: Beyond being a cleaner ship, the ANTWERPEN acts as stepping-stone in the global energy transition, proving the commercial scaling of new, low-carbon fuels for the maritime industry.

Empowering Industry Innovation

Breakthrough vessels do not become commercially viable on technology alone. They require a foundation of confidence to operate, and this is where Marsh’s role as an insurance consultant comes into play. The long-term partnership between Marsh, EXMAR and its marine underwriters, ensured full confidence and support to provide solid marine covers for EXMAR’s next generation vessel.

EXMAR’s four decades of experience in safely transporting ammonia, combined with rigorous risk assessments, comprehensive crew training, and active collaboration with regulatory bodies, allowed Marsh to confidently support this venture. This successful placement proves to the broader maritime ecosystem that advanced, lower-carbon vessels have officially moved from theoretical concepts to commercial realities.

Insurance is often viewed as a safety net, but in this context, it is an enabler of progress. By successfully structuring the right insurance framework for the ANTWERPEN, Marsh helps securing the confidence of charterers, financiers, ports and other stakeholders.

Unlocking Economic Value

A lower-carbon ship is not just a win for the planet; it also offers a competitive advantage. As environmental regulations tighten and carbon pricing becomes a global standard, the ANTWERPEN offers a distinct economic advantage:

● Lower Voyage Costs: Up to 90% reduced CO₂ emissions mean less exposure to carbon taxes, penalties, and compliance charges.

● Better Freight Economics: For traders, reducing the carbon cost burden embedded in a voyage, translates directly to more competitive transport costs.

● Future-Proof Investments: By exceeding current International Maritime Organization (IMO) emissions targets, the ANTWERPEN protects itself from technological obsolescence, ensuring long-term relevance and bankability.

The Road Ahead

The delivery and successful insurance of the ANTWERPEN demonstrate exactly what the market needs right now: innovation with real substance. By working together, EXMAR and Marsh have effectively removed a major barrier to the adoption of ammonia as a marine fuel.

Their cooperation highlights a powerful truth: when industry pioneers and risk experts unite, they can chart a course that is environmentally responsible, industrially transformative, and economically superior.

The future of shipping has arrived, and it is ready to sail.

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Setting Sail Toward a Greener Future