A Global Maritime Forum-led consortium will assess the development of an iron ore green corridor between Australia and East Asia. The consortium consists of BHP, Star Bulk Carriers Corp, Oldendorff Carriers and Rio Tinto, all of which have signed a letter of intent agreeing to assess this corridor.
“Zero-greenhouse gas emission pathways require the creation of a parallel value chain that involves new ways of working, new contractual relationships, and drives the development of decarbonised fuel production and infrastructure,” Johannah Christensen, CEO at the Global Maritime Forum, said.
“This new iron ore green corridor collaboration is an important step towards enabling zero greenhouse gas emission shipping from both the supply and demand side.”
Green corridors are becoming an increasingly viable solution as the industry attempts to reduce carbon emissions and meet the demand for green shipping within the maritime sector. The corridors provide specific trade routes that favour decarbonisation between major ports.
An iron ore route between Australia and East Asia was mapped out in a 2021 study for the Getting to Zero Coalition report. The study indicated that, based on production conditions, green ammonia would be the best fuel choice.
“This collaboration is another important step towards accelerating the delivery of our climate commitments on shipping, as part of Rio Tinto’s broader goal of net zero emissions by 2050 and a 50 per cent reduction by 2030, and supports efforts in providing our customers and partners with sustainable value-chain solutions,” Laure Baratgin, Rio Tinto’s Head of Commercial Operations, said.
The consortium will assess the feasibility of using green ammonia for this corridor. It will to investigate what conditions will be necessary to facilitate zero or near-zero emissions.
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