Muscat – Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK Line) and the Port of Duqm Company (PODC), which oversees port management and terminal operations at Duqm Port, signed a comprehensive memorandum of understanding (MoU) at the Duqm Economic Forum 2025 to collaborate on the development and global connectivity of the Port of Duqm.

Through this agreement, NYK aims to advance concrete discussions with PODC across multiple domains, including support for the green steel industry, the development of alternative solutions for finished vehicle transportation within the Middle East, and the production and maritime transport of green energy such as hydrogen and ammonia.

In a press statement, Yuji Otsuka, General Manager of the Dry Bulk & Energy Business Co-ordination Group at NYK Line, said, “We are delighted to have signed an MoU with PODC, marking a new phase in our collaborative relationship following previous discussions. We will engage in concrete discussions with PODC to build a better supply chain, taking into account the geographical advantages of the Port of Duqm and the potential for hydrogen and ammonia production utilising renewable energy.”

Reggy Vermeulen, CEO of Port of Duqm Company, said, “We are very proud of our collaboration with NYK Line, one of the most respected and globally renowned shipping lines. The signing of this MoU is a testament to the strong alignment of vision between NYK and PODC. It reflects our shared commitment to unlocking new growth opportunities and establishing Duqm as a strategic maritime hub in the region.

“We are confident that this collaboration will make a significant positive contribution to the development and economic growth of Duqm and the Sultanate of Oman.”

NYK in its statement noted that the Port of Duqm is currently promoting direct reduced iron (DRI), a green steel product, and is expected to become a hub for the production and export of hydrogen and ammonia, leveraging abundant renewable energy sources such as wind and solar power.

The company has identified the Middle East as one of its key strategic regions. In April 2022, NYK established its Middle East regional headquarters in Dubai to strengthen its regional strategy and enable more agile business development across the area.

NYK said that while Oman is endowed with natural gas resources, it is also globally recognised for its strong potential in renewable energy, which could position the country as a producer of cost-competitive green hydrogen. In particular, the Port of Duqm – strategically located outside the Strait of Hormuz – offers significant geographical advantages due to its proximity to the Middle East, India, and East Africa. Furthermore, the area has been designated as the Special Economic Zone at Duqm (SEZAD), offering a range of incentives to attract both heavy and light industries, alongside ongoing infrastructure development, NYK added.